PODCAST

Wealth Formula Podcast

Buck Joffrey

Financial Education and Entrepreneurship for Professionals

business investing

All Episodes

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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39:30

335: How to Buy Expensive Toys and Profit!

Wealth Formula Podcast ·

2022/09/25

Have you heard of the Financial Independence, Retire Early (FIRE) movement? The movement is defined by extreme frugality and extreme savings and investments in hopes of retiring early and living on small withdrawals of accumulated funds. The general rule of thumb is to live on only 30 percent of your income and invest the rest. So, if you make $300K per year and are in a tax bracket of 40 percent you would be living on $54,000 (less than 5K per month) per year after taxes in hopes of retiring a few

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43:08

334: Cognitive Bias in Life and Investing

Wealth Formula Podcast ·

2022/09/18

First of all, if you have not signed up for the next , you should do so NOW. This is going to be a very cool event. We are going to do personal finance talks in the morning like we usually do with lessons on taxes, asset protection and real estate. We are also going to get a big-picture macroeconomics talk from a guy who ran a sovereign wealth fund in the Middle East and an MIT-trained electrical engineer will give us a preview of a very exciting wind energy play as it relates to bitcoin mining! The

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31:38

333: Congressman James Bacchus on the state of Free...

Wealth Formula Podcast ·

2022/09/11

When I was growing up, the Republican Party stood for small government and free trade. Democrats were apparently on the other side of the table. Maybe it is an incorrect generalization, but one thing is for sure…neither party supports real free trade anymore. Why? Well, I think it stems from an overriding trend towards nationalism. The problem is that free trade is actually very beneficial for economies. Over the past several decades no other country has benefitted more from free trade than the

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36:20

332: How to Use Tax Law to Benefit from the...

Wealth Formula Podcast ·

2022/09/04

We haven’t talked about cryptocurrency much lately. Admittedly, I am like everyone else who gets excited when the markets are going sky-high but quickly loses interest when markets are struggling. However, In times like these, regardless of asset class, it is critically important to stay rational. Let’s take bitcoin as an example. As I write this Bitcoin is sitting just under $20K. It could absolutely go lower. But…for those of us who believe bitcoin is here to stay, does it matter? If you believe

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36:51

331: Ask Buck Summer 2022 Part 2

Wealth Formula Podcast ·

2022/08/28

It’s time for another round of “Ask Buck”. This week’s episode includes questions on taxes, multifamily real estate investments and the Wealth Accelerator. Listen HERE!

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28:49

330: Ask Buck Summer 2022

Wealth Formula Podcast ·

2022/08/21

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 will be talking a lot about taxes and the real estate market. Make sure to tune in!

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40:43

329: The Untold Story of the World’s Biggest Con

Wealth Formula Podcast ·

2022/08/14

Investing is hard enough without worrying about all the crooked stuff going on out there. When you add that to the picture, it’s a miracle that most of us have actually made money investing. And if you think the nefarious activity is limited to the private space, you would be mistaken. Big money can manipulate public markets just as easily. Take Enron for example. The global financial collapse of 2008 exposed a lot of white-collar criminals. When the lending markets dried up it was like the tide

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26:29

328: The Emotionally Intelligent Investor

Wealth Formula Podcast ·

2022/08/07

This week’s episode of Wealth Formula Podcast is about emotional intelligence. Why would we talk about such things on a personal finance show? Well, let’s define emotional intelligence for a moment. We all have emotions. If you want to see emotions in their rawest form, look at a toddler. One minute you might have an angel and the next you might have a complete meltdown and a demon from hell. Adults are no different. Emotional intelligence is the ability to step away from those emotions and examine

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33:52

327: Real Estate and Taxes: What You Need to Know!

Wealth Formula Podcast ·

2022/07/31

You’ve probably noticed that my emails have been pretty short the last few weeks. I’ve been in Europe so I’m letting the podcast speak for themselves for the most part. This week we go back to fundamentals. There’s a reason why real estate is the foundation of the Wealth Formula personal finance ethos. There is simply nothing comparable in terms of risk adjusted returns and tax benefits. To reinforce these concepts, this week‘s podcast features a conversation with a CPA specializing in real estate

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35:24

326: 200 Years of Financial Panics

Wealth Formula Podcast ·

2022/07/24

When I think about all of what has happened to our economy over the past two decades, it’s quite astounding. National debt has gone up by about 5x. Interest rates hovered at nearly zero for multiple years and we went through multiple shocks to the system like the 2008 meltdown and Covid. Again—all in the last two decades! This week’s guest on Wealth Formula Podcast has seen a lot more than I have as he served in the Reagan administration at a time when Paul Volker used significant interest rate

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35:55

325: No Pain…Plenty of Gain

Wealth Formula Podcast ·

2022/07/17

There is a fine line between being a “quitter“ and a pragmatic individual navigating life. Quitting has a very negative connotation in our culture. It’s un-American and is associated with weakness and lack of grit. In reality however, quitting is often the best thing you can do and the sooner that you do it the better off you are. I’m a good example of a guy who has quit quite a few times and is much better off for it. For example, when I was in medical school, I was a hardcore student. They used to

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31:03

324: Are We Running Out of Food?

Wealth Formula Podcast ·

2022/07/10

One of the consequences of inflation is increasing wealth disparity. Think about it for a moment. CPI indices only measure a basket of goods and services. But you and I know as investors that inflation helps us out with our investment portfolios as well. Asset inflation is a real thing. If you don’t have the money to invest, you only get the downside of inflation. Prices for everyday stuff go up and it becomes harder and harder to get by. How bad can it get? Well we already have food insecurity in

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31:24

323: Bringing Back Wonder to Your Life

Wealth Formula Podcast ·

2022/07/03

When was the happiest time of your life? I mean like inner-happy type happy? For me, it was definitely as a kid. My childhood was by no means all roses, but the little things in life brought me a ton of joy. I remember riding my bike to friends’ houses and knocking on their doors (that’s what we did in the 80s), getting together a group of friends for an impromptu baseball game or just riding around on our bikes and going places we shouldn’t have gone. School was fun during elementary school. It

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45:57

322: How Playing the Tax Game Can Be Profitable

Wealth Formula Podcast ·

2022/06/26

There is a major distinction between economists and investors. While most economists classify themselves with schools of thought such as Keynesian or Austrian, successful investors cannot afford to do so. I just spent a significant amount of time reviewing the work of Saifedean Ammous, the author of The Bitcoin Standard which has really become the bible for serious bitcoiners of the world. Ammous is an academic, trained at Columbia. I highly recommend you read his work. He’s very smart and when you

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49:18

321: Bitcoin Ecosystem and Infinite Fleet

Wealth Formula Podcast ·

2022/06/19

Big changes in the world seem to sneak up on you. One day you reflect on the way things used to be and wonder how the heck we got here. Anyone who has kids knows what I mean. My 13-year-old daughter is tall and beautiful and writes songs. I can remember the day she was born. How did that happen? I see her every day but I don’t see the changes happening in real-time. Technology does this kind of thing to us as well. I remember a time when there were no cell phones. But in a blink of an eye,

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42:27

320: The Soul of a Value Investor

Wealth Formula Podcast ·

2022/06/12

What makes a great investor? Genetics? Personality type? Luck? Probably all of the above. But one thing I’ve noticed is that all the best investors in the world are very curious people and they tend to read a lot. Apparently Warren Buffett was reading between 800 and 1000 pages per day in the early days of Berkshire Hathaway. He probably learned a thing or two along the way. Even now, approaching his ninth decade, 80% of his day is reportedly spent reading. Bill Gates apparently clocks in at about a

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38:03

319: Janet LePage on the State of the Real Estate Market

Wealth Formula Podcast ·

2022/06/05

Should you be investing in real estate now? After all, we have double digit inflation and rising interest rates. Well, let’s start with an even more basic question. Should you be investing in anything right now? What is the alternative? The alternative is to sit on cash while inflation erodes the value of your money by double digits. Would you invest in something today that would guarantee you a loss of 8-12 percent of your money year over year? I’m guessing the answer is no. But that is exactly

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