Wealth-Building Made Simple

By Phillip Washington Jr.Business Entrepreneurship Investing

Wealth-Building Made Simple episodes

June 21, 2023Financial Planning: ”How do we find the money to afford children?”
Summary

It’s important to have faith and adopt a mindset of knowing that things will work out when it comes to having confidence in affording children. It’s also important to be satisfied with what you have and appreciating the present moment, rather than focusing on what you don't have. That foundation keeps us from going outside ourselves to seek what we desire which leads to overspending and all kinds of other stress.

Things change over time, and you'll be able to provide more and more for your children as your resources expand. Breaking a generational curse is not about giving children material things, but rather passing along emotional intelligence.

Chapters

| **Timestamp** | **Summary** |
| ------------- | ----------- |
| 0:00:01 | Introduction to the podcast and topic of discussion |
| 0:00:30 | Disclaimer about investment risks and advice to consult a financial advisor |
| 0:00:46 | Emotional approach to affording children: having faith that things will work out |
| 0:01:55 | Practical approach to affording children: Warren Buffet's example of renting an inexpensive apartment and using a drawer as a crib |
| 0:04:54 | Having the mindset of knowing that things are going to work out and being willing to do what you need to do to make ends meet |
| 0:06:03 | Being satisfied with where you are today and allowing the picture to fill in through inspiration, ideas, and intuition |
| 0:06:52 | Focusing on the positive aspects of what you want and being satisfied with what you have |
| 0:07:29 | When you are not satisfied with where you are currently, you are shutting your mind down to ideas and opportunities that can make things better |
| 0:09:22 | Appreciating the beauty of the process of life and being easy about it |
| 0:10:27 | Making adjustments, passing emotional intelligence, and breaking generational curses |
| 0:11:01 | Disclaimer about Stone Hill Wealth Management and consulting a qualified financial advisor before implementing any strategy discussed herein |

Quotes

- "Once you have faith, which you can call it love, you can call it faith, you can call it feeling good, you can call it satisfaction, you can call it appreciation, I'm just going to call it faith… But when you have a confident feeling that things work out you open up your genius." (0:03:13)

- "If you can just be satisfied…be happy where you are today." (0:06:03)

- "The way you break a generational curse is not to give them (children) stuff. It breaks by passing along emotional intelligence." (0:10:27)

Social Media Handles
Follow Philip Washington, Jr. on Instagram (@askphillip)
Subscribe to Wealth Building Made Simple newsletter (https://wealthbuildingmadesimple.us)
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.
12 min
June 20, 2023Real Estate: Housing Affordability in the DFW Metroplex
Summary
In this episode of Wealth Building Made Simple, host Phillip Washington Jr. and Realtor Rob Lewis discuss the issue of housing affordability in light of higher interest rates. Rob emphasizes the importance of understanding reality and income limitations. Rob also believes that the easiest entry point to building wealth is through real estate, specifically one's primary residence, which serves as a savings account and forces individuals to save money. He acknowledges that higher interest rates may make it difficult for some to afford their dream home initially, but emphasizes the importance of building equity over time. He encourages individuals to live in a house they own for a few years, build up equity, and then move to a more comfortable situation.
Rob also challenges the mindset that may prevent individuals from pursuing homeownership, suggesting that if they are content in an apartment, there is no reason they cannot be content in a house. The conversation also touches on the idea of buying a home with roommates or friends.
Affordability is not as easy as it used to be if you’re buying the traditional way, so more people may start collaborating to buy a house and enter into an agreement where they will have the house together for a few years. After that, they can either sell it or one person can move out, pay the other their equitable interest in the property, and the other person can keep it as a rental.
There are still opportunities to purchase affordable properties in certain areas that are further out from current economic centers. Housing prices have declined nationally for three consecutive months, making it a good time to buy. Rob encourages listeners to take advantage of the current market and not be afraid to jump in, even if there is still competition for desirable properties.

Chapters

| **Timestamp** | **Summary** |
| ------------- | ----------- |
| 0:00:01 | Introduction to the podcast and topic of housing affordability |
| 0:01:00 | Discussion of higher interest rates and their impact on affordability |
| 0:02:23 | The importance of real estate as an entry point to building wealth |
| 0:03:11 | Addressing the question of how to afford a home with higher interest rates |
| 0:04:24 | The importance of building equity in a home |
| 0:05:31 | Comparison to historical housing affordability in England |
| 0:06:10 | The role of mindset in home ownership |
| 0:07:10 | The benefits of owning a home vs. renting |
| 0:08:15 | The importance of working with a qualified financial advisor |
| 0:09:05 | Discussion of current housing market opportunities and the potential for buying a house with others |
| 0:11:39 | Discussion of buying a house with friends |
| 0:14:45 | Creative ways to make money with a jointly-owned property |
| 0:15:11 | Contact information for Rob the Realtor |
| 0:15:39 | Information about complimentary consults with Philip Washington, Jr. of Stonehill Wealth Management |

Quotes
"Real estate is the easiest entry point to building wealth."

"The best savings account that you could possibly have is your primary residence."

"If you're going to be content in an apartment, what's stopping you from being content in a house?"

"Go get your house. Go get your house. One of the best opportunities that I have seen personally in the last five years...."

"I think we're going to start seeing more people that like now let's say me and you are graduates. We're 30 years old and single. I'm like, hey, bro, let's go buy a house. I don't plan on getting a wife anytime soon. I don't want to miss out on this property. Let's just go buy a house together."

Social Media Handles
Follow Philip Washington, Jr. on Instagram (@askphillip)
Subscribe to Wealth Building Made Simple newsletter (https://wealthbuildingmadesimple.us)
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.
17 min
June 19, 2023Financial Planning: ”How do I support my aging parents, pay my bills, and save for the future?”
Summary

As people are living longer, many individuals find themselves in a position where they need to financially support their aging parents. While this can be a challenging conversation to have, it's important to approach it with empathy and understanding. Here are some practical tips for supporting aging parents financially while also managing your own finances:

1. Open and honest communication: It's important to have open and honest conversations with your parents about their financial situation. This can be a sensitive topic, so approach it with empathy and understanding. Listen to their concerns and work together to find solutions that work for everyone involved.

2. Explore financial assistance programs: There are many financial assistance programs available for seniors, such as Medicaid and the Supplemental Nutrition Assistance Program (SNAP). Research these programs to see if your parents are eligible and can benefit from them.

3. Downsizing: If your parents are living in a large home and struggling to maintain it, downsizing may be a viable option. This can help reduce their expenses and free up funds for other necessities.

4. Consider hiring a financial advisor: A financial advisor can provide guidance on how to manage your own finances while also supporting your aging parents. They can help you create a financial plan that takes into account your parents' needs and your own financial goals.

5. Set boundaries: While it's important to support your parents, it's also important to set boundaries. Make sure you're not sacrificing your own financial stability to support them. Have a frank conversation about what you can and cannot afford to do, and work together to find a solution that works for everyone involved.

Supporting aging parents financially can be a challenging and emotional experience, but with open communication, empathy, and practical solutions, it's possible to find a balance that works for everyone involved.

Chapters

| **Timestamp** | **Summary** |
| ------------- | ----------- |
| 0:00:01 | Introduction to the podcast and sponsor |
| 0:00:46 | Introduction to the topic of supporting aging parents, paying bills, and saving for the future |
| 0:01:10 | Introducing the Wealthbuildingmadesimple.us newsletter |
| 0:01:38 | The importance of managing emotions when dealing with financial stress |
| 0:02:30 | The burden on retirees due to rising costs and fixed incomes |
| 0:03:33 | The importance of maintaining a positive emotional state when helping aging parents |
| 0:04:05 | The need to see parents as equal and capable of providing for themselves |
| 0:04:51 | Communicating faith in parents' abilities to provide for themselves |
| 0:05:42 | Seeing parents as equal and maintaining a positive emotional state when helping them financially |
| 0:09:11 | Emotional state is 99% of the problem in financial planning; merging households is a good solution |
| 0:10:17 | Reminder to seek professional advice before implementing any strategies |

Quotes

- "You want to help your family, and there's a way to help your aging parents."
- "If you stay in the emotional state where you perceive your parents as needing you and you being their source of security, that's going to create an unbalanced relationship."
- "You can help your parents but also see them as equal and having the ability to provide for themselves."

Social Media Handles
Follow Philip Washington, Jr. on Instagram (@askphillip)
Subscribe to Wealth Building Made Simple newsletter (https://wealthbuildingmadesimple.us)
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.
12 min
June 16, 2023Innovation: Bitcoin at the Center of the New Financial System
Summary

In this episode of Wealth Building Made Simple, Phillip discusses the evolution of global economic systems and the potential for Bitcoin to become the foundation for a new financial system. He highlights successful components of past systems, such as the Venetian network's extensive trade network and innovative banking idea of double entry bookkeeping, the Dutch's use of joint stock companies and a stock market, the UK's successful management of currency and long period of low inflation due to their strict adherence to the gold standard, and the US's innovation in its democratic system, which fosters a culture of innovation and reinvention.

The new world being built is a globally connected internet economy, and the financial system of this economy is crypto, particularly Bitcoin. Bitcoin has the potential to become the gold of this system due to its transparency and decentralized nature. It incorporates the successful components of past systems, such as transparent bookkeeping and a lack of central authority, while also being limited in supply like gold. It’s Phillip’s belief that Bitcoin will be the anchor asset and the most creditworthy coin, serving as the pristine collateral of the digital financial system being built.

Bitcoin will operate as the gold to where, if different people trade in different currencies like ethereum, US dollars, Yuan, or whatever, and things out of whack, Bitcoin will be the asset that people are most willing to lend and settle against. Banks will lend in different currencies, but Bitcoin will be the most trusted currency. Understanding how the system works and the mechanisms behind it will reveal why so much building is going into Bitcoin. While Bitcoin won't be the only currency, it will play a role similar to gold as the pristine collateral of the digital financial system being built.

Chapters

| **Timestamp** | **Summary** |
| ------------- | ----------- |
| 0:00:01 | Introduction to the podcast and sponsor |
| 0:00:44 | Introduction to the topic of a world with bitcoin at the center |
| 0:01:18 | Explanation of emotional intelligence and promotion of Wealthbuildingmadesimple.us newsletter |
| 0:02:38 | Overview of global financial systems throughout history, starting with the Venetian network and double entry bookkeeping |
| 0:04:21 | Discussion of the Dutch and their extensive trade network and empire |
| 0:05:15 | Discussion of business competition and the evolution of innovation in financial systems |
| 0:05:59 | Explanation of the UK's management of currency and use of the gold standard |
| 0:07:02 | Discussion of the US's culture of innovation and democracy |
| 0:07:30 | Explanation of the hyperconnected internet economy and the innovation of crypto |
| 0:09:10 | Introduction to bitcoin as the epitome of transparency in the digital world |
| 0:10:26 | Discussion of Bitcoin as a credit-worthy coin and its role as an anchor asset |
| 0:13:10 | Bitcoin's role as the pristine collateral of the digital financial system being built |

Quotes

**(0:09:45)**
"Bitcoin, it's a super transparent system."

**(0:10:26)**
"It builds upon the lessons from all the previous generations into a currency, but it doesn't mean it's not going to be other currencies."

**(0:11:02)**
"And what's the most consistent currency to date? Gold, because it's lived through every economy, because it can't be changed. So then you go to internet currency and you go, all right…Which one has the biggest network and can be changed the least? It's Bitcoin."

**(0:12:35)**
"Because what ends up happening is if somebody wants to lend me money in whatever currency and they want collateral and I got Bitcoin, they'll lend me whatever currency I want against the Bitcoin because it will be the most trusted currency."

Social Media Handles
Follow Philip Washington, Jr. on Instagram (@askphillip)
Subscribe to Wealth Building Made Simple newsletter (https://wealthbuildingmadesimple.us)
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.
15 min
June 15, 2023Business: The Franchise Business Model
Summary

This conversation was focused on the advantages of investing in a franchise. This investment is not for the faint of heart and requires a significant amount of liquid cash. However, the payoffs are worth it if the franchise is a product that the investor is passionate about and the market desires.

Investing in a franchise is also kind of like investing in a bond portfolio. Additionally, they discussed some of the other advantages of franchising being, shared purchasing with other franchisees, access to technology, and assistance with finding the best locations for the business. Overall, investing in a franchise can be a great way to become an entrepreneur and have some back support while still having the freedom to be creative with the business.

Chapters

0:00:01
Heading: Exploring the Franchise Model with Smoothie King: Cool Drinks and Smoothie Bowls for Summertime
0:02:00
Discussion of Smoothie King Franchise Business Model
0:03:57
Conversation Summary: Investing in a Franchise Model
0:11:59
Heading: Leveraging Bank Money to Make Money with a Franchise Model

Powered by ReiffMartin CPA and Stone Hill Wealth Management
https://www.reiffmartincpa.com/
https://stonehillwealthmanagement.com/

Join the Wealth Building Made Simple Newsletter: https://www.wealthbuildingmadesimple.us

Social Media Handles
Follow Philip Washington, Jr. on Instagram (@askphillip)
Subscribe to Wealth Building Made Simple newsletter (https://wealthbuildingmadesimple.us/subscribe/)
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.
17 min
June 14, 2023Financial Planning: ”How am I ever going to save enough money to pay for a wedding?”
Summary
The cost of weddings has become exorbitant and often stems from a desire to recreate the feeling of other weddings the bride and/or groom previously attended. Before entering into such an emotionally charged expense, it's important to ensure that one's emotional state is in the right place. Rather than focusing on impressing others, focus on the feelings you want to experience during the wedding and own those feelings internally. By doing so, you can avoid becoming enslaved to debt and make financial decisions that align with your current financial resources.

The key is to own the feeling internally and not need a specific experience to fill an emotional void. The opposite creates unbalance, stress, and leads to debt or overspending. Meditation, visualization, and journaling help with the emotional balance necessary to keep those insecure (unbalanced) feelings in check. The ceremony has no impact on the ongoing feeling of a marriage, and overspending on a wedding can put unnecessary stress on a marriage.

Chapters

| **Timestamp** | **Summary** |
| ------------- | ----------- |
| 0:00:01 | Introduction to the podcast and topic of saving for a wedding |
| 0:00:29 | Disclaimer and investment advice |
| 0:01:15 | Introduction to Wealthbuildingmadesimple.us newsletter |
| 0:01:58 | Discussion of the high cost of weddings |
| 0:02:41 | Emphasizing the emotional aspect of weddings |
| 0:03:27 | Recreating the feeling of a wedding |
| 0:04:07 | Importance of owning the feeling before the wedding |
| 0:04:43 | Feeling beautiful and appreciating oneself |
| 0:05:16 | Owning the feeling and practicing it makes planning easier |
| 0:06:10 | The importance of owning the feeling and not the experience |
| 0:06:52 | Don't worry about what others think and focus on yourself |
| 0:07:28 | The ceremony has no impact on the ongoing feeling of marriage |
| 0:08:35 | Get the emotional state from owning the feeling, not the thing |
| 0:09:23 | Acting out of obligation creates stress and leads to debt |
| 0:09:57 | Information about complimentary consults for portfolio review |
| 0:10:33 | Disclaimer and investment advice |

Quotes

**(0:04:07)**
"If you just learn to just own the filling first, it lets you think clearly so that you can go the path that's right for you given where you are right now."

**(0:06:10)**
"Once you own the feeling, you can have your wedding in a shack or a big castle, it doesn't matter because it's going to be fun."

**(0:06:52)**
"Everybody who I have met that's been married, that look back and they go, man, the ceremony was good or it was bad, but with hindsight it wasn't as big of a deal (long term emotional high) as we thought it was going to be… As a matter of fact, depending on if we got into debt for it, it might have put some unnecessary stress that we had to overcome for years in the marriage. That pattern of thinking expressed itself in the marriage, then in the house that we bought, then in our monthly expenditures because we were always searching for the feeling in things versus owning the feeling and allowing, wherever we are in satisfaction to appreciate the feeling and allow it to expand because it's going to expand…it can't help itself."

**(0:08:35)**
"Get the emotional state from don't look for the feeling that you want in the thing because it's not going to come in a thing."

**(0:09:23)**
"I call it acting out of obligation. You “have to” have 300 people on the list, right? I feel if I don't invite these 100 people, they're going to be bad. Who gives a shit? You know what I mean? They will be mad for a day or two and then they'll forget about it."

Social Media Handles
Follow Philip Washington, Jr. on Instagram (@askphillip)
Subscribe to Wealth Building Made Simple newsletter (https://wealthbuildingmadesimple.us)
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.
11 min
June 13, 2023 Real Estate: Managing short term rental properties ”Airbnbs”
Summary

It’s important to catch small issues early on to avoid costly repairs in the future. With short term rentals, hosts have the opportunity to inspect the property after each guest leaves and address any issues before the next guest arrives. This is unlike traditional rentals where tenants may be less inclined to report minor issues, leading to bigger problems down the line. Hosts often charge a cleaning fee to guests, with some hosts charging the full fee while others charge a partial fee.

It is important to create a unique experience for guests. Finding a property with unique details that can be highlighted helps enhance that experience as well. There is no potential limit to what hosts can charge for their short term rentals as long as the experience matches the expense. Additionally, hosts can rent out rooms in their homes or designate a section of their homes for short term rentals, providing even more opportunities to earn extra income.

Chapters

| **Timestamp** | **Summary** |
| ------------- | ----------- |
| 0:00:01 | Introduction to the episode and sponsor |
| 0:00:28 | Disclaimer about investments |
| 0:00:45 | Introduction to the topic of maintaining a short-term rental |
| 0:01:20 | Comparison of maintenance for short-term rentals vs. standard rentals |
| 0:03:30 | Personal experience with maintaining short-term rentals |
| 0:04:43 | Cleaning process for short-term rentals |
| 0:05:28 | Importance of finding a reliable cleaning service |
| 0:05:30 | Charging cleaning fees to guests |
| 0:07:07 | Additional fees that can be charged on Airbnb |
| 0:07:29 | Potential for unlimited income with short-term rentals |
| 0:08:35 | Importance of finding unique details to enhance guest experience |
| 0:09:40 | Possibility of cities and HOAs changing to allow short-term rentals |
| 0:10:29 | Renting out rooms in your home as a short-term rental |
| 0:10:42 | Contact information for Rob, the Realtor |

Quotes

**(0:01:32)**
"With short term rentals, you have the ability to get in the house every time a guest leaves."

**(0:08:00)**
"There is no limit to what you can potentially charge for short term rentals. So if your experience matches the expense that you charge, people will pay it."

Powered by Robert Lewis, Jr. at Ink Realty and Stone Hill Wealth Management

https://ink-realty.com/
https://stonehillwealthmanagement.com/

Join the Wealth Building Made Simple newsletter:
https://www.wealthbuildingmadesimple.us

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.
12 min
June 12, 2023Wealth Mindset: ”How do I get out of living this paycheck to paycheck cycle?”
Summary

The way to break the cycle of living paycheck to paycheck by changing one's mindset. Living paycheck to paycheck is a feeling of insecurity and dissatisfaction with one's financial situation. The key to breaking this cycle is to first appreciate and own what you have and find satisfaction in it. By finding something positive in your job or situation, individuals can open themselves up to opportunities that will bring them more satisfaction and abundance in the future. Once you identify what you love about what you’re doing, it becomes easier to sort through options and find opportunities that will add to the feeling you already own.

Emotional intelligence is the key to filling the void that material possessions cannot fill. By teaching children to be emotionally intelligent, they can learn to become self-sufficient and happy throughout their entire lifetime. The combination of satisfaction, faith in the future, and intuition is the energy necessary to take the strong action needed to achieve one's goals with joy and ease.

Chapters

| **Timestamp** | **Summary** |
| ------------- | ----------- |
| 0:00:01 | Introduction to the episode and sponsor |
| 0:01:20 | Living paycheck to paycheck is a mindset of feeling insecure and unsatisfied |
| 0:02:14 | Breaking the cycle of living paycheck to paycheck by owning and appreciating what you have |
| 0:03:40 | Example of points of frustration that add up to living paycheck to paycheck |
| 0:04:20 | Finding something positive about your job to focus on |
| 0:05:29 | Find satisfaction first before seeking another job opportunity |
| 0:05:57 | Appreciate what you have to find satisfaction and opportunities |
| 0:07:02 | Animals communicate through feelings, humans should too |
| 0:08:05 | Doing what you love leads to success and wealth |
| 0:09:03 | Teaching emotional intelligence to children is more important than material possessions |
| 0:10:14 | Relying on intuition and feelings fine tunes opportunities for success |

Quotes

**B-(0:04:20)**
> "Because it appears that the job is the problem, but really the problem is your mindset."

**B-(0:05:29)**
> "Before you even try to effort your way into another job, first find satisfaction where you are."

**B-(0:07:33)**
> "We speak languages, we can write and read, so we ignore the feeling aspect of how we communicate. But most of communication is feeling. Most of the time when you do something, you don't know why, because a feeling triggers you, so what I'm saying in this example is once you get the feeling of how you want your dream job to feel, then it's easier to sort through all the options because you're just looking for something that feels like that."

**B-(0:08:05)**
> "Once you're doing something you love, the money will come because the level of whatever you need to do from an action standpoint becomes easier and lighter because you're loving every aspect of what you're doing. Then it doesn't feel like work. Whenever you're in a position where it doesn't feel like work, that's when the money starts really rolling in."

**B-(0:09:03)**
> "Instead of trying to fill their void (kids) with stuff, let me fill their void with emotional intelligence. It becomes more important to me to teach them to be emotionally intelligent, because that's what I've learned, provides the stuff."

**B-(0:09:36)**
> "And then your spouse who you're with. The good part about having a spouse is you learn more from each other, just from observation. You don't even have to teach your spouse anything. Just by the nature of how you feel, you begin to rub off on each other, and they will, over time, begin to see what's happening and feel the way you feel. Then all the need to keep up with the Joneses goes away."

Social Media Handles
Follow Philip Washington, Jr. on Instagram (@askphillip)
Subscribe to Wealth Building Made Simple newsletter (https://wealthbuildingmadesimple.us)
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.
13 min
June 09, 2023Investing: We are entering the Age (Era) of Women
Summary

Energy (and money) flows from areas of heavy concentration to areas of lower concentration on its path to find equilibrium. Phillip believes that one of the smartest things to do is to bet on women businesses, as women have been historically underfunded when it comes to money.

We are moving into the age of women and that women will be appreciated more as the world shifts its belief system and focus. This shift will likely bring balance to the underinvestment of energy or money for generations. This means that things will become more balanced, and it will get harder for those who rely solely on their identity. Moving forward, individuals will have to operate on merit because the playing ground is becoming more equal everyday.

Chapters

| **Timestamp** | **Summary** |
| ------------- | ----------- |
| 0:00:01 | Introduction to the podcast and sponsor disclaimer |
| 0:00:44 | Shoutout to the team and reaching 100,000 downloads |
| 0:01:56 | Purpose of the newsletter and emotional intelligence |
| 0:05:41 | Introduction to the topic of the podcast: The Age of Women |
| 0:06:22 | Explanation of energy and concentration |
| 0:07:35 | Money flows to lower concentrated areas |
| 0:08:08 | Bet on women businesses |
| 0:09:22 | Women have been underfunded |
| 0:11:01 | Moving into the age of women |
| 0:12:08 | Women in sports and investing against perception |
| 0:13:50 | The underinvestment of energy and money for generations will flow, but this is not a threat to men. The playing ground is becoming equal, and identity alone will no longer provide an advantage. |

Quotes

**B-(0:07:26)**
"Women are the new age. And I'm not saying that to be cute. I'm saying that because it's a fact."

**B-(0:08:38)**
"The way energy works is it's going to distribute and diversify and then keep rebuilding...Whether it's the (morally) right thing to do or the wrong thing to do, from your perspective, it's just a smart thing to do is to bet on women in my opinion."

**B-(0:09:01)**
"So if you're looking for where the money's going to be made, where the opportunities are going to be, it's going to be with women."

**B-(0:09:22)**
"Women have been underfunded when it comes to money for, like I mean, since, like, Cleopatra era."

**B-(0:14:24)**
"What that also means is if you're just a cog in the wheel and you were relying just on your identity, it's going to get harder for you. Meaning just because of your identity before, because you were a white Christian male in the Western world, at a macro level, gave you a leg up. That leg up is gone. Moving forward now, you have to actually operate on merit as the playing ground is becoming more equal."

Social Media Handles
Follow Philip Washington, Jr. on Instagram (@askphillip)
Subscribe to Wealth Building Made Simple newsletter (https://wealthbuildingmadesimple.us)
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.
17 min
June 08, 2023Business: Studying the Evolution of Smoothie King Management Team
Summary

Smoothie King is a successful franchise model that has been in business for over 40 years. The company has had two CEOs, with Wan Kim taking over in 2012 and driving the company's success. Kim's background in process efficiency and profitability has helped him to grow the franchise and make it the number one franchise in the US for ten years running. Kim has surrounded himself with a strong management team, including Camille Hymes, who will become the new chief operating officer in June 2023. Hymes has experience in food service and franchise models from her time at Starbucks and Jack in the Box.

Smoothie King's goal is to expand its presence internationally and improve the customer experience. The company is also looking to lower the barriers to entry for potential franchisees, making it easier for them to invest in the brand. Smoothie King may be working to become a hangout spot, similar to Starbucks, where customers can enjoy a healthy drink and spend time with friends. The company is also allegedly implementing automated drive-through models, which will make it more accessible to a wider range of people.

Smoothie King's success is also due to its focus on innovation. The company is always looking for ways to improve its products and services, such as introducing new flavors and ingredients. This keeps customers interested and engaged, and helps to differentiate the brand from its competitors.

Overall, Smoothie King's success is driven by a strong management team led by Wan Kim, who focuses on sales growth, franchisee growth, and profitability. By expanding internationally, improving the customer experience, and implementing drive-through models, Smoothie King can attract more customers and build brand loyalty. As the trend towards healthy options and socializing continues to grow, Smoothie King is well-positioned to capitalize on these trends and continue to be a successful franchise model for years to come.

Chapters

| **Timestamp** | **Summary** |
| ------------- | ----------- |
| 0:00:01 | Introduction to the podcast and sponsor |
| 0:00:48 | Introduction to the episode |
| 0:01:34 | Smoothie King's CEOs |
| 0:03:25 | Wan Kim's success and management team |
| 0:04:29 | New COO Camille Hymes and her background |
| 0:05:29 | Smoothie King's goal to make it easier to become a franchisee |
| 0:06:41 | The investment required to become a franchisee |
| 0:07:11 | Smoothie King's drive-through models |
| 0:08:25 | The potential for automation in franchises |
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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.
13 min

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