PODCAST

Wealth Formula Podcast

Buck Joffrey

Financial Education and Entrepreneurship for Professionals

business investing

All Episodes

33:28

Episode 300! ASK BUCK!

Wealth Formula Podcast ·

2022/01/23

This week’s show marks the 300th episode of the Wealth Formula Podcast. That means about six years' worth of shows. Wow! How did that happen? What started out as a little time to speak to myself (I had no listeners) has become a show with well over a million downloads and an extraordinary community. When I reflect over the last six years, I’m really encouraged. I see the incredible progress that I have made professionally within the financial space and I see how much smarter I have gotten. I am even

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24:25

299: The Lords of Easy Money

Wealth Formula Podcast ·

2022/01/16

Why is it that the rich get richer? Well, for one thing, they have money to invest. Think of how many people out there live paycheck to paycheck. Meanwhile, people with money like you and me are able to invest our money and get it working for us. Remember the mathematical Wealth Formula? Wealth=Leverage(MassXVelocity) Velocity is the rate that you get your invested capital back in your pocket to redeploy. Leverage is good debt. These variables are critical to the Wealth Formula but meaningless

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33:32

298: Is PRIVATE Debt the Real Danger?

Wealth Formula Podcast ·

2022/01/09

Okay—let’s talk about debt. I bet at some point in your life, someone has told you that you need to pay it all off. On TV, you see the likes of Suzie Orman and Dave Ramsey telling you that you have to get rid of it before anything else. They aren’t entirely wrong. They are just talking to the masses. The masses aren’t a group of sophisticated real estate investors like you, who are distinguishing between different kinds of debt. Robert Kiyosaki famously made this distinction between good debt and

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35:40

297: Another Look at the Real Estate Market with...

Wealth Formula Podcast ·

2022/01/02

Happy New Year! I don’t know about you, but I am looking forward to another profitable year in the roaring 20s. If you have been investing in real estate for the last several years, you are obviously doing very well. The big question on everyone’s mind seems to be whether or not the market is too hot to continue investing. There is no one right answer to this. In fact, when we talk about the “real estate market”, we aren’t even talking about one market. Real Estate investing takes many forms

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42:48

296: Investor Cybersecurity 101

Wealth Formula Podcast ·

2021/12/26

Technology is great but the burdens of technology are significant. Think of all your accounts and all your passwords. You may have cryptocurrency and might be trading on cryptic DeFi platforms. What if something happened to you today? How much of your money would be a giant mess to the family you left behind? There’s a New Year’s resolution for you. Make sure your house is in order! Meanwhile, while we want to make sure we don’t lock our loved ones out of the things we want them to have when we are

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32:08

295: The 900 Pound Gorilla in the US Economy

Wealth Formula Podcast ·

2021/12/19

Inflation is running at about 6-7 percent right now. That is significant. In fact, we haven’t seen those numbers in about 4 decades. On this week’s show, we will talk to an economist to explain what this means at the macro level and what may potentially be the long-term outcome. I’m not an economist. I am a professional investor and the way I see things right now is at that level. Let me tell you that, if you are investing in real estate with leverage, inflation is not really a bad thing. What

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37:28

294: Navigating the BOOM/BUST Cycle with Murray Sabrin

Wealth Formula Podcast ·

2021/12/12

A number of people told me that they really enjoyed last week’s podcast interview with William Green, who spoke about what we can learn from the greatest investors of all time. One line that still haunts me is Sir John Templeton saying that the four most dangerous words for an investor are “This time it’s different”. Why does it haunt me? Listen, the economy is in a massive boom right now. There is no doubt about that. Should you invest in a booming economy? What is the alternative? Right now

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46:10

293: Lessons Learned from the Greatest Investors in...

Wealth Formula Podcast ·

2021/12/05

Asset prices are booming. We have more than doubled price per door costs on acquisitions made in some markets just two years ago. That’s just what our has seen in real estate. To look at rising asset prices on steroids, just look to the crypto markets. A guy who works out at the place I work out bought $400K of gala token under 1 cent and is now sitting on a couple hundred million bucks. When you see that kind of stuff, it’s hard not to get FOMO. To be clear, I still truly believe we have

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46:34

292: Dave Liu on Using Psychology to Hack Life for...

Wealth Formula Podcast ·

2021/11/28

When you are trying to figure out how to become more successful in life, don’t try to re-recreate the wheel. Success stories aren’t all the same, but they often rhyme. My first two successful businesses were nothing other than me ripping off other successful business models and giving them a twist of my own. I knew the concepts already worked in other markets and there was, in my view, no reason why they wouldn’t work in mine. I was right. I now live in a place surrounded by entrepreneurs like me

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23:13

291: A Shot to Save the World: The Story Behind the...

Wealth Formula Podcast ·

2021/11/21

It’s been 2 years since Covid-19 first became the major global topic. I must admit, if you told me back then that we’d still be wearing masks and living our lives with Covid-19 precautions every day, I would have never believed you. So much about this period in time is extraordinary. It’s hard to really appreciate that as we continue to live in the moment while this chapter in history continues to unfold. We continue to see new variants pop up, we see ongoing restrictions to everyday life, and we

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36:14

290: What are the 7 Deadly Economic Sins?

Wealth Formula Podcast ·

2021/11/14

At the core of every individual’s subconscious there is a wealth thermostat. What sets the temperature is a combination of nature and nurture. Once it’s set, it’s difficult to change it. But if you know you have a thermostat, it’s a lot easier to change your mindset. What do I mean by this? Well, think about yourself for a moment. Are you $200K/year type? $500K or a million/year type? Now, try to imagine yourself with either one more or one less zero behind your yearly income. Does that fit with

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46:50

HNW Charitable Strategies that are PROFITABLE

Wealth Formula Podcast ·

2021/11/13

Last week I did an emergency podcast to make sure everyone is aware of an upcoming change related to the whole life policies we use inside of . It all revolves around recent changes made to IRC Section 7702, with is the IRS code that dictates how life insurance policies are taxed. Since the 1980’s, the code mandated insurance companies who offer whole life to offer a 4% guaranteed interest rate on the cash value. Well, as you know, interest rates have come a long way since then. In essence, the

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39:28

289: Is Bitcoin the Next Layer of Money?

Wealth Formula Podcast ·

2021/11/07

I began talking about cryptocurrency on Wealth Formula Podcast in 2017. Many joined the crypto world after that and have made a significant amount of money. If you are one of those people…you’re welcome! Those who stayed on the sidelines often felt, for good reason, that cryptocurrency was just a big digital fad and that it would probably die out like tulips of the past. Well, there was a deep frost that did kill many projects between then and now, but one thing is now very clear

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08:47

Urgent Wealth Formula Banking Announcement!

Wealth Formula Podcast ·

2021/11/02

This is a 5 minute update on Wealth Formula Banking changes that are occurring because of current tax legislation. PLEASE LISTEN NOW!

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35:06

288: Dennis Gartman: Inflation, the Fed and Trouble...

Wealth Formula Podcast ·

2021/10/31

It’s not easy becoming a physician. You have to be at the top of your class in college to get into medical school. Then medical school itself is a pretty big commitment. Of course, I’m one of those crazies who added 7 years of residency training to my education. But by the time you get done with all of that training, you really do get an opportunity to master a body of knowledge. And while medicine is always changing, what we know about human physiology doesn’t change much these days—at least

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53:24

287: Artificial Intelligence, the Robot Revolution...

Wealth Formula Podcast ·

2021/10/24

I am a natural entrepreneur. It’s not something I tried to be. I’m just wired this way. School does not teach you to be an entrepreneur. However, there is no doubt that certain subjects parallel my thinking as an entrepreneur. It may surprise you to know that the classes I took that most resemble my way of entrepreneurial thinking, were in the area of organic chemistry. Higher level organic chemistry relies on integrating the knowledge of how chemicals interact in order to create

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37:31

286: Ninja Tax Strategies with Tom Wheelwright!

Wealth Formula Podcast ·

2021/10/17

At our Wealth Formula meetup in Dallas a few weeks ago my CPA, Tom Wheelwright, got up on stage and surprised me. Tom is a very smart guy. He wrote one of the books that I consider a “must read” for personal finance called Tax Free Wealth. He is the Michael Jordan of CPA’s. He has several high profile clients including Robert Kiyosaki and is Robert’s Rich Dad Advisor on taxes. I thought I had read up on or been exposed to just about every strategy Tom taught, but then he got up on stage

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48:26

285: Chinese Evergrande and the state of the Global...

Wealth Formula Podcast ·

2021/10/10

Economics is a social science. While science is knowledge and application of existing aspects of the world and applications through physical laws, mathematics and research, social sciences deal with society and human behaviors. Certainly there is plenty of math involved in economics but the math is predictive insofar as the behavior is predicted correctly. That is not an easy task when trying to predict things like the way the Chinese government will react to an internal crisis. That’s why

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34:13

284: Jorge Newbery on the State of the Real Estate...

Wealth Formula Podcast ·

2021/10/03

“It’s tough to make predictions, especially about the future.” -Yogi Berra The residential real estate market is on fire. No doubt. We are seeing this across the board from single-family homes to massive apartment complexes. I’m not an expert on single-family home values. I don’t understand them as they are not rooted in cap rates etc. However, I can comment on larger residential real estate. Cap rates have gone down primarily because of mortgage interest rates being at historic lows. This is just

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32:14

283: Ask Buck 9/25/21

Wealth Formula Podcast ·

2021/09/26

Personal finance is personal. However, there is a type of conventional financial wisdom that leads us to believe that there is one right way of doing things. That becomes very confusing to people…especially in our alternative investment world. After all, financial advisors are the experts, right? In reality, financial advisors are usually most interested in your money going into traditional investments such as stocks, bonds and mutual funds so that they can charge you for assets under

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