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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

14:00

Big Money, Less Taxes: Smart Ways to Handle One-Time...

Wealth-Building Made Simple ·

2025/05/23

Key Takeaways:Know When Money Comes and Goes Good money planning isn’t just about how much you make—it’s about when you make it and spend it. If you time it right, you can lower the taxes you owe. Retirement Plans = Double Win Using retirement plans like a SEP or solo 401(k) helps business owners save money for later and pay less in taxes now. It also makes workers happier! Spread Out Big Money Moments If you suddenly make a lot of money (like selling a business), you might have to pay a lot in

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21:10

From Dollars to Sats: The World Priced in Bitcoin

Wealth-Building Made Simple ·

2025/05/21

Key Takeaways:Money Should Move Like Information Think about how you can send a text or a video to anyone in the world in seconds. Money should work the same way—fast, easy, and without needing a bank or government in the middle. Bitcoin Has a Limit—That’s a Good Thing There will only ever be a certain amount of Bitcoin (just like there’s only one Mona Lisa). That makes it more stable and trustworthy than regular money, which governments can print more of whenever they want. Regular Money Can Lose

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13:55

How Risky Should You Be with Your Business Taxes?...

Wealth-Building Made Simple ·

2025/05/16

Key Takeaways:Look for Hidden Tax Treasures There are special tax “bonuses” for doing good things, like hiring veterans or creating new stuff (like inventions). These are called tax credits, and they can save your business a lot of money. Don’t Trust Every TikTok Tip Just because someone says something about taxes online doesn’t mean it’s true. Always double-check with someone who really knows—like a CPA (that’s a tax pro!). Keep Good Records—Always Save every receipt, bill, and note about what

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25:13

Commodities vs Credit: The Physics Behind Smart...

Wealth-Building Made Simple ·

2025/05/14

Key Takeaways:Gold = The OG Money For generations, people have used gold as a trusted way to measure value. It's like the solid rock that all other money stuff is built on — even credit and loans! Why Trust Matters in Money Money and investments work well when people trust them. If people believe something will keep its value (like a house or a bond), they treat it like it’s worth more. But if trust drops, so does its value. Markets Move in Cycles The market goes through ups and downs —

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10:49

Which Business Type Saves You More on Taxes? (LLC,...

Wealth-Building Made Simple ·

2025/05/09

Key Takeaways:LLC vs. S Corp vs. C Corp = Different Tax Rules Think of your business like a costume—it can dress up as different types (like LLC, S Corp, or C Corp). Each costume changes how much tax you pay and how your money is handled. How You Pay Yourself Matters If you run your own business, you can pay yourself like a worker (salary) or take money out like an owner (distribution). Each way has different tax effects, so you want to choose smartly. Keep Up With the Rules Tax laws can change,

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23:22

Monetary Overstretch: Debt, Inflation, and the Future...

Wealth-Building Made Simple ·

2025/05/07

Key Takeaways:What Is Monetary Overstretch? Imagine if someone kept borrowing money and never paid it back — eventually, things would fall apart. That’s what happens when the whole money system gets too deep into debt. It's like trying to build a tower too high on a shaky base. How to Spot the Signs Look out for: Super low interest rates (like banks making it cheap to borrow) Prices of things going way up (that’s inflation) Big bubbles in stuff like housing or stocks (prices that don’t make

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23:36

Bitcoin on the Balance Sheet: Inside the new Bitcoin...

Wealth-Building Made Simple ·

2025/05/03

Key Takeaways:What’s a SPAC? A SPAC (say it like “spack”) is like a shortcut for a company that wants to be listed on the stock market. Instead of going the long, hard way, they use a SPAC to skip some steps and get there faster. 21 Holdings Loves Bitcoin This company is collecting a lot of Bitcoin and using it as a key part of how they grow. It's kind of like saving up gold—but digital. They believe Bitcoin will make their business stronger. Big Changes for the Market If 21 Holdings successfully

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10:08

Roth Conversions: The Tax-Free Retirement Game Changer!

Wealth-Building Made Simple ·

2025/05/02

Key Takeaways: Pay Now, Save Later A Roth conversion means you pay taxes on the money now, but once it’s in the Roth account, it grows and can be taken out later with no taxes at all. That’s a big win for the future! Pick the Right Time Doing a conversion when you’re making less money (so your taxes are lower) or when you’re giving money to charity (which gives you tax breaks) can make it way cheaper to convert. Ask a CPA for Help A CPA (kind of like a tax coach) can help you figure out the best

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12:35

Understanding Markets: It's All About Ideas and Mindsets

Wealth-Building Made Simple ·

2025/04/30

Key Takeaways:The Market Is Built by People Every time someone starts a business, buys a product, or invests money, they’re helping shape the market. It’s not just Wall Street or big companies—regular people play a huge role too. Know Who’s Involved The market includes individuals (like you and me), businesses, and governments. Understanding how these groups act helps investors make better decisions. Change Is Constant Markets are always evolving because of new technology, cultural shifts,

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09:41

The Win-Win of Giving: Charity Donations & Tax...

Wealth-Building Made Simple ·

2025/04/25

Key Takeaways:Giving Away Valuable Stuff Can Save You Taxes If you donate things that have gone up in value, like stock or a car, you won’t have to pay taxes on the money they’ve earned — and you get a tax break for giving them away! Use a Special Giving Account (Donor-Advised Fund) This is like a charity savings account. You can put money in now (and get a tax break), then give it to your favorite charities later. Super flexible! Work with a CPA (Money & Tax Expert) A CPA can help you come

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12:48

More Than Just Bitcoin: The Future of Internet Money

Wealth-Building Made Simple ·

2025/04/23

Key Takeaways:Different Types of Crypto (Like Different Tools) Think of Bitcoin like digital gold — it’s something people save because it holds value over time. Other coins like Ethereum and Solana are more like smart computers that let people build cool apps or make contracts without needing a middleman. New Kind of Money System (No Banks Needed) With something called DeFi (short for Decentralized Finance), you can borrow or lend money using apps like AAVE and Uniswap — no banks, no waiting in

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10:18

Health Savings Account: Your Tax-Free Medical Money...

Wealth-Building Made Simple ·

2025/04/18

Key Takeaways:Triple Tax Win! HSAs are awesome because you don’t pay taxes when you put money in, let it grow, or take it out for medical expenses. That’s like winning three times with one account! Covers More Than You Think You can use your HSA money for way more than just doctor visits. Need to make your bathroom safer or install ramps at home for medical reasons? That might count, too! Not All Insurance Plans Qualify Before opening an HSA, your health insurance has to be a high-deductible

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11:32

Bitcoin: The First Digital Money

Wealth-Building Made Simple ·

2025/04/16

Key Takeaways: Technology Always Changes the World From ancient farming tools to smartphones, every big invention has helped shape how people live and work. Now, digital currencies are doing the same by changing how we think about money. Bitcoin Started Something New In 2009, Bitcoin was created as a new kind of money that isn’t controlled by any one country or bank. It runs on a computer network that anyone can use and no one can shut down. Why People Like Bitcoin Many people are tired of

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08:44

Retire Richer: The Ultimate 401(k) & IRA Tax Savings...

Wealth-Building Made Simple ·

2025/04/11

Key Takeaways:Put As Much As You Can into Your 401(k) A 401(k) lets you save money before the government takes taxes out. That means you pay less in taxes now and get to save more for your future. Free Money from Your Job (Company Match!) Some jobs will match part of the money you put in — like if you put in $100, they might also add $100. That’s basically free money, and it helps your savings grow faster! Older = Can Save More When you get older, you’re allowed to put even more money into your

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10:22

Volatility is NOT risk

Wealth-Building Made Simple ·

2025/04/09

Key Takeaways: 1.Volatility Isn’t the Same as Risk Volatility means prices are changing a lot—up and down. Risk is the chance of losing money permanently. Just because something is bouncing around doesn’t mean it’s dangerous—it could be an opportunity. 2. Math Doesn’t Tell the Whole Story Many investors use formulas to try to predict risk. But markets are influenced by people’s feelings, news, and unexpected events—things math can’t fully capture. So, relying only on numbers can cause people to

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13:28

Navigating Trade Wars: Protecting Your Money in a...

Wealth-Building Made Simple ·

2025/04/07

Key Takeaways: What Happens in a Trade War? Countries charge extra taxes (tariffs) on imports from rival nations. This makes goods more expensive for businesses and consumers. Over time, it can slow down the economy and increase prices. Where to Put Your Money When Trade Wars Happen Some investments are safer during economic uncertainty: Gold: Holds its value when money loses purchasing power. Defensive Stocks: Companies that sell everyday necessities, like food and healthcare, stay

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10:06

Tax Time Made Easier

Wealth-Building Made Simple ·

2025/04/04

Key Takeaways:Keep Financial Records Organized – Keeping track of income and expenses throughout the year makes tax time easy and stress-free. No scrambling for receipts at the last minute! Bookkeeping is More Than Just Taxes – Good record-keeping isn’t just for tax season—it helps businesses understand their profits and plan for future growth. Be Strategic with Tax Deductions – While tax write-offs can lower your tax bill, they should fit into your bigger financial goals. Some deductions may not

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12:44

Decoding the Economy: Supply, Demand, and the Money Game

Wealth-Building Made Simple ·

2025/04/02

Key Takeaways:Why Prices Go Up and Down When lots of people want something but there isn’t much of it, prices go up (like when concert tickets sell out). When there’s too much of something and not enough buyers, prices go down (like when stores have sales to clear out old inventory). How the Federal Reserve Affects the Economy The Federal Reserve (or "the Fed") controls how much money is in the economy. It changes interest rates to make borrowing easier (low rates) or harder (high rates), which

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14:21

Balancing Savings, Credit, and the Economy

Wealth-Building Made Simple ·

2025/03/31

Key Takeaways:Saving Helps Everyone When people save money, it doesn’t just sit there—it gets used to help businesses grow and create jobs. This makes the economy stronger and more stable. Smart Borrowing Helps the Economy Grow Using credit (borrowing money) the right way—like taking a loan to buy a house or start a business—helps the economy grow. But if too many people borrow irresponsibly, it can cause financial problems. Inflation vs. Deflation Inflation means prices go up over time, making

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08:38

Practical Steps for Easy Business Financial Management

Wealth-Building Made Simple ·

2025/03/28

Key Takeaways:Track and Reconcile Finances Regularly – Just like athletes stick to a training schedule, businesses need to check their financial records often. Keeping track of income and expenses helps avoid costly mistakes. Plan for Taxes Year-Round – Instead of waiting until tax season, businesses should review their tax situation every few months. This helps them take advantage of tax-saving opportunities, like R&D tax credits. Analyze Financial Statements – Checking the income statement,

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216 results

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