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Wealth-Building Made Simple
Wealth-Building Made Simple episodes
- Innovation: Making money growing vegetables in your home
Summary Notes:
David Jones II (The Black Business Cowboy) and Philip Washington Jr. discuss how to make money off of growing produce in one's own home. David covers how to best get started, what type of produce grows well in various climates, and how to maximize profits from one's homegrown produce. They also discuss the importance of researching the right type of soil, fertilizers, and other necessary nutrients for successful plant growth. Additionally, they discuss the importance of investing in the right containers, planters, greenhouses, and other equipment that can help maximize the return on investment. Finally, they emphasize the importance of taking the time to properly nurture and tend to the plants in order to maximize the yield.
Urbanization has disconnected us from nature, but it can be a positive thing if we utilize it to its fullest capacity. Urban Grower Supply and Micro Farm (David’s company) offer solutions to this, providing products and information to help people grow their own food in their homes. Through Urban Grower, individuals can make $1,000 a week from just six square feet, providing supplemental or full-time income for their families.Timestamps
0:03:05 Urban Farming: Growing 20 Pounds of Food in 1,000 Square Feet0:08:18 Utilizing Indoor Spaces to Generate Supplemental Income Through Urban FarmingFollow David Jones II on IG: https://www.instagram.com/blackbusinesscowboy/
Join the Wealth Building Made Simple Newsletter: https://www.wealthbuildingmadesimple.us
Powered by Stone Hill Wealth Management
https://stonehillwealthmanagement.com/
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.
Powered by Stone Hill Wealth Management
12 min - Real Estate: Real estate as a currency alternative
Summary notes:
The conversation revolves around the relative value of currency and how the value of money is relative to the faith in the currency. Wise investors in countries with large debt problems convert their currency to a more stable currency or some other asset class that has a better relative value.People don’t tend to not think of assets as currencies, but a currency has two parts: store of value and medium of exchange. So by definition assets can fill the role of the store of value component of a currency that is no longer working as a good store of value even if it’s a phenomenal medium of exchange. The money that people move out of an unstable currency is the store of value part of their wealth.
Real estate (especially in Texas) is an asset class many investors are turning to as an alternative to store a good chunk of their wealth to protect its value.
Timestamps
0:01:37 Exploring the Relationship Between Currency and Real Estate in Texas0:07:58 Conversation on Real Estate as Currency in the Golden StateJoin the Wealth Building Made Simple Newsletter: https://www.wealthbuildingmadesimple.us
Powered by Stone Hill Wealth Management
https://stonehillwealthmanagement.com/
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 - Investing: How Money Thinks
Summary Notes:
Money is an eternal energy that has always been attracted to the same thing: new ideas, freedom, and beauty. Money is an energy force for an economy, and it needs to be infused into new life so that it can mature and grow. When forces try to stop the flow of money, it creates problems, which is why one should pay attention to new industries and new ideas, even if it means changing industries or leaving an organization.
Timestamps
0:01:16 Exploring the Universe: A Conversation on Math, Physics, and Quantum Physics0:03:54 Exploring How Money Thinks: A Discussion on the Universal Laws of Money and Innovation0:09:49 Exploring the Impact of Social Dynamics on Crypto Industry Evolution0:11:31 The Power of Change and Nature's InevitabilityJoin the Wealth Building Made Simple Newsletter: https://www.wealthbuildingmadesimple.us/subscribe
Powered by Stone Hill Wealth Management
https://stonehillwealthmanagement.com/
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.
14 min - Investing: The History of Currencies
Summary Notes:
Currency has been around since the beginning of mankind interacting with each other. It has been represented in difference forms, but the essence of currency is a medium of exchange and/or a store of value.
Understanding what currency is and how it works is important in wealth building because currency is the foundation of value that an economy builds onto. If that foundation is shaky or weakened through manipulation by those in charge then it effects the entire economic system built on top of it.
You don't need to be a currency expert to know when there's manipulation, nor do you need a degree in economics. Just follow inflation. Inflation is manifestation of currency manipulation. Even if the reasons are "noble".
Thank God we live in a time and a country where we have the freedom to store our value in a number of different currencies: stocks, bonds, USD cash, real estate, bitcoin, gold, art, Yen, Yuan, etc.
The currency you choose determines how much of your wealth grows or is taken away through inflation over time.
Join the Wealth Building Made Simple Newsletter: https://www.wealthbuildingmadesimple.us/subscribe
Powered by Stone Hill Wealth Management
https://stonehillwealthmanagement.com/
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.
20 min - Business: The Maturity and Decline Phase of Apple, Inc.
Summary Notes:
This is part 3 of our month-long series on lessons learned from Alison and Phillip studying Apple, Inc.
The Maturity and Decline phase of Apple occurs after it has reached its first peak in the 1980s and then began to decline. A company decline can be caused by a variety of factors such as changing consumer trends, shifts in the market, new competition, or the company’s product becoming outdated. It is important for entrepreneurs and businesses to recognize when their company is in the maturity and decline phase in order to adjust their strategy accordingly.
Steve Jobs and the CEO of Apple clashed, leading to Jobs leaving the company. The company lost their visionary and with that their ability to compete with IBM which caused Apple to lose the computer market and their products to become subpar. Steve's perfectionist tendencies made it difficult for management to run a successful company. Eventually, the company was desperate enough to invite Jobs back in the late 90s and early 2000s. He came back and helped turn the company around to become the successful business it is today.Steve Jobs was a visionary and innovator in the tech industry, and his impact on the world still resonates today. He created the iPod, iPad, and iPhone, which changed the way people interacted with computers and allowed for the spread of software across the world. After his death from pancreatic cancer in 2011, Tim Cook took over as CEO.Apple's current success is due to their focus on selling high margin products, using lean operations, and hiring the right people for the right roles. They also point out the importance of cutting out wasteful activities and being relentless in the pursuit of perfection.
Steve Jobs's legacy lives on in the products and services that have revolutionized the tech industry.
Timestamps
0:01:54 The Downfall of Apple and the Return of Steve Jobs0:04:24 Reflection on Steve Jobs' Innovations and Impact on the Computing Industry0:06:28 Steve Jobs and Apple's Financial Discipline0:13:00The Partnership Model and the Visionary LeaderPowered by ReiffMartin CPA and Stone Hill Wealth Management
https://www.reiffmartincpa.com/
https://stonehillwealthmanagement.com/
Join the Wealth Building Made Simple Newsletter waiting list: https://www.wealthbuildingmadesimple.us/subscribe
17 min - Innovation: Renewable energy in the future of manufacturing
Summary notes:
Renewable energy technology is making its way into the manufacturing business in a big way.
The cost of the technology used to harness renewable energy is coming down due to increased volume. Manufacturers are taking advantage of this opportunity as they can service more customers with lower energy expenses. Solar farms are a popular option as they provide income while reducing risk.In order to stay relevant, one has to adapt to the changing environment and not be left behind. Many wise business people are integrating bitcoin mining into energy input manufacturing operations, with an example of a man in Austin who partners with oil producers to mine bitcoin from the extra gas produced during digging.Timestamps
0:01:26 Renewable Energy in Manufacturing Processes0:03:28 Exploring the Benefits of Renewable Energy and Bitcoin Mining0:09:26 Exploring the Benefits of Utilizing Existing Resources for Manufacturing0:11:12 The Benefits of Acquiring Goods in a Preferred Currency in the Metal BusinessFollow David Jones II on IG: https://www.instagram.com/blackbusinesscowboy/
Join the Wealth Building Made Simple Newsletter: https://www.wealthbuildingmadesimple.us/subscribe
Powered by Stone Hill Wealth Management
https://stonehillwealthmanagement.com/
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.
Powered by Stone Hill Wealth Management
15 min - Real Estate: The Gift and the Curse of Gentrification
Summary Notes:
The conversation discusses the gift and the curse of revitalization in older neighborhoods. When abandoned structures are torn down and replaced by higher-value homes, the tax base increases but the people living in the area can suffer. The people may struggle to keep up with their increased tax bills and they may not be able to afford to stay in their homes. The people may get offers from buyers that are over market value, but the buyers may not have anywhere else to go with their fixed incomes. Solutions include providing education to those affected as a way to help, as well as programs through the city that can help fix up their homes. Ultimately, there is no one-size-fits-all solution for those affected by gentrification.
Timestamps
0:00:58 Revitalization of Established Neighborhoods: The Gift and Curse0:03:25 Discussion on the Impact of Revitalization on Low-Income Homeowners0:08:43 Conversation on Home Ownership and Income ChallengesJoin the Wealth Building Made Simple Newsletter: https://www.wealthbuildingmadesimple.us/subscribe
Powered by Stone Hill Wealth Management
https://stonehillwealthmanagement.com/
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 - Wealth Mindset: How to change your relationship with money
Summary Notes:
In order to change our reactions to money we have to first become aware and then change our current beliefs and feelings about money.
Our beliefs are determined by our feelings and emotions. From a scientific standpoint, we are all just energy vibrating at a lower level so that it can be perceived with the five senses. The way we communicate with our energy is through our feelings, which is what e-motions are…energy in motion.Our perspective attracts our feelings, and in turn, affects our beliefs. A perspective of lack can prevent someone from experiencing abundance. If a person has a lot of money, but they don't have the emotional feeling of abundance and satisfaction, they won't feel content.
Use the feeling of what we desire to attract the circumstances and conditions we envision. That’s the “secret”.
Timestamps
0:01:12 Exploring the Science of Beliefs and Emotions0:03:45 Exploring the Impact of a Lack Perspective on Money0:07:26 The Power of Thinking from Abundance: How to Increase Money Flow in Your LifeJoin the Wealth Building Made Simple Newsletter: https://www.wealthbuildingmadesimple.us/subscribe
Powered by Stone Hill Wealth Management
https://stonehillwealthmanagement.com/
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 - Investing: The basic building blocks of an economy
Summary notes:
The basic building blocks of an economy include:
- Production
- Distribution
- Consumers
- Money
Technology is not just a term that refers to software and hardware, but rather a concept that describes the force behind an economies increase in productivity which leads to a higher overall quality of life.
Asset returns are made up of three components: productivity, inflation, and market sentiment (emotion). Investors can make money by understanding the impact of productivity and inflation has on their choice of investments while managing their emotions when the market is either too hyped or too pessimistic.
Timestamps
0:03:53 Exploring the Impact of Technology on Economic Productivity0:06:20 Exploring the Impact of Productivity on Asset Returns0:11:19 The Decline of America and the Possibilities of Web 3.00:15:28 The Impact of Internet and AI on Production and Distribution CostsJoin the Wealth Building Made Simple Newsletter: https://www.wealthbuildingmadesimple.us/subscribe
Powered by Stone Hill Wealth Management
https://stonehillwealthmanagement.com/
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.
20 min - Business: The Growth Phase of Apple, Inc.
Summary notes:
In the growth phase of a company, it's important to make sure to have a the right team in place. A fast growing company encounters unnecessary resistance when it doesn't have the right person in the right seats. No matter how intelligent the entrepreneur, they can't do it all by themselves.
Powered by ReiffMartin CPA and Stone Hill Wealth Management
https://www.reiffmartincpa.com/
https://stonehillwealthmanagement.com/
Join the Wealth Building Made Simple Newsletter waiting list: https://www.wealthbuildingmadesimple.us/subscribe
10 min
About Wealth-Building Made Simple
From the publisher's feed
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.