Wealth-Building Made Simple

How to Manage Money Like the Wealth

Listen Later

Key Takeaways:

  • Financial Independence: True freedom comes from relying less on traditional banks and systems. Building your own financial structure gives you more control and flexibility over your money.
  • Using Assets Wisely: Wealthy people often borrow against what they own instead of selling it. This allows them to access cash while keeping their assets working for them.
  • Managing Risk: It’s important to protect your assets by not relying on just one company or institution. Spreading assets across different custodians helps reduce risk if one fails.
  • Preparing for Market Downturns: Having cash on hand and a backup plan is critical during market crashes. Liquidity gives you options when others are forced to sell.
  • Investing in High-Volatility Assets: Assets like Bitcoin can offer strong long-term returns, but they come with ups and downs. Smart investors balance the opportunity with careful risk management.


    • Chapters:

    Timestamp Summary

    0:00 Achieving Financial Sovereignty by Becoming Your Own Bank

    3:43 Becoming Your Own Bank Through Bitcoin and Financial Engineering

    8:51 Risk Management in Volatile Asset Investments

    10:16 Managing Debt and Cash Flow with Asset-Backed Strategies

    15:39 Building Financial Resilience Through Cash Buffers and Debt Management

    21:28 The Importance of Slow and Intentional Dating

    21:56 Strategies for Managing Investment Risks and Building Financial Independence

    30:07 The Role of Violence in Socializing and Building Respect

    32:28 Achieving Financial Security Through Strategic Asset Management

     

    Powered by Stone Hill Wealth Management

     

    Social Media Handles 

     

    Follow Phillip Washington, Jr. on Instagram (@askphillip)

     

    Subscribe to Wealth Building Made Simple newsletter

    https://www.wealthbuildingmadesimple.us/

     

    Ready to turn your investing dreams into reality? Our "Wealth Building Made Simple" premium newsletter is your secret weapon. We break down investing in a way that's easy to understand, even if you're just starting out. Learn the tricks the wealthy use, discover exciting opportunities, and start building the future YOU want. Sign up now, and let's make those dreams happen!

     

    WBMS Premium Subscription

     

    Phillip Washington, Jr. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.

    ...more
    View all episodesView all episodes
    Download on the App Store
    Wealth-Building Made SimpleBy Phillip Washington Jr.
    • 4.9
    • 4.9
    • 4.9
    • 4.9
    • 4.9

    4.9

    28 ratings