Wealth-Building Made Simple

Wealth-Building Made Simple

By Phillip Washington Jr.BusinessEntrepreneurshipInvesting
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Wealth-Building Made Simple episodes

  • Innovation: A Deep Dive into 3D Printing

    Summary notes: 

    The discussion centers on how decentralizing the truth can lead to more equitable distribution of resources. The example of 3D printing is used to illustrate how it can benefit manufacturing. 3D printing allows people to model up their ideas with free or inexpensive software and hardware, and make exactly what they want. It could lead to more people being involved in the manufacturing process and having a collective amount of money rather than it being accrued to the top.



    There are three types of manufacturing: craftsmen, small manufacturers, and large manufacturers. Craftsmen will still have a place, as they are able to create personalized items with skill. Small manufacturers are already somewhat decentralized, and they are able to respond to customization and personalization. Finally, large manufacturers are needed for scaling and reducing the price point. Additive manufacturing, automation, and other emerging technologies may make it easier for people to become craftsmen and small manufacturers. This would allow people to open an Etsy shop or begin printing items and let them run around the clock.



    Timestamps



    0:01:47 Discussion on Decentralizing Manufacturing with 3D Printing

    0:04:03 Exploring Decentralization in Manufacturing: Craftsman, Small Manufacturers, and Large Manufacturers

    0:05:58 The Benefits of Leveraging Technology for Manufacturing and Personalization

    0:11:35 Leveraging Additive Technology for Operational Efficiency

    0:13:46 The Benefits of Embracing Technological Progress

    University of Arkansas in Fayeville for college and studied industrial engineering. He originally wanted to design prosthetic limbs but changed his mind and decided to study industrial engineering because of its prestige. During college he got a couple of internships in an industrial setting and discovered that he enjoyed working with tangible things. He worked at Frito Lay's largest plant in the world as his first job.


    The conversation is about how emerging technologies are having an impact on the industrial industry.  Additive manufacturing is one of the biggest changes in the industry which is the process of starting with basic building blocks of material and forming it into the desired thing.  3D printing is an example of additive manufacturing, and that it can create incredibly complex and specific forms of material within a short amount of time. There are two dominant types of 3D printing machines (but many more), those that print with metal and those that print with plastic.

    3D printing is already used in many everyday objects, such as Invisalign braces and medical devices. Finally, the speaker noted that the best way to get in contact with them is on social media.

     

    Timestamps



    0:02:56 Exploring the Impact of Emerging Technologies on the Industrial Industry with

    0:08:36 Conversation about 3D Printing -Exploring the Process and Applications 

     

    Follow 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

    17 min
  • Real Estate: ”Interest rate hikes” for home buyers with good credit

    Summary Notes: 

    The Biden administration has recently announced a move to lower fees for borrowers with lower credit scores, which has been sensationalized by the media. This move is not raising rates on good credit borrowers, but rather reducing fees for those with lower credit scores. According to a report by the Urban Institute, lower fees could help increase access to credit for borrowers with lower credit scores and improve the overall health of the mortgage market. However, some experts have expressed concerns about potential risks associated with expanding access to credit for borrowers with lower credit scores.

    Phillip and Rob discuss this topic on today’s episode. 

     

    Timestamps



    0:01:13 Exploring the Biden Administration's “Interest Rate Hike” for Well Qualified Buyers

    0:03:20 FHA Loan Level Price Adjustment: A Step Towards Affordable Home Ownership

     

    Join the Wealth Building Made Simple Newsletter waiting list: 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.

    11 min
  • Replay: How to deal with people acting funny as your wealth grows

    Summary notes: 

    Everyone processes change at different rates of acceptance.  As wealth grows in our life, people in our life might project their relationship with wealth onto you and it can change the dynamic of your relationship for a time period...especially if they have a negative relationship with money.  

    Don't let it get you down.  Understand it for what it is energetically.  It's not about you, it's about them.  Give them grace and time to adjust.  Negative energy can only survive if it's reacted to.

     

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

     

    Powered by Stone Hill Wealth Management

    https://stonehillwealthmanagement.com/

     

     

     

    16 min
  • Wealth Mindset: The Universal Algorithm of Money (and Life)

    Summary Notes:

    Before scientists understood gravity and electricity, it seemed like magic, but what we call magic is just science (a process) we do not understand. The algorithm of the universe operates on  feelings, which is the same as belief, and that what we feel to be true gives birth to our experience.


    Our Emotions guide the chemicals that flow through our body.  As we learn to be in Harmony with our natural state of positive emotions, it improves the flow of chemicals through our bodies improving our long term health.  

    It’s no breaking news to state that governments use the media to control what people think.  Control of information flow is how religions also maintained power over society before the invention of the printing press. Social media works a bit differently than other systems because the user has more control over the algorithm based on what information the user pays attention to. 

    The same Universal Law applies to money.  How we Feel about money (abundance or lack) gives birth to our future experience with money.  

     

    Timestamps



    0:01:23 Exploring the Algorithm that Operates the Universe: Understanding the Power of Belief and Emotional Intelligence

    0:03:22 Exploring the Impact of Emotions and Beliefs on Our Lives

    0:09:05 Exploring the Science Behind Gentrification

    0:10:53 Exploring the Power of Emotions and Free Will to Achieve Success

     

    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.

    15 min
  • Business: Insights from studying Apple Computer as a start up

    Summary notes:

    This is part 1 of a 4 part series where Alison Reiff-Martin CPA and Phillip Washington, Jr. discuss their insights on the company Apple starting in the Start up Phase to Apple’s current phase after it reinvented itself.   

    Steve Jobs was the founder of Apple was founded in 1976 and achieved profitability relatively early.   Steve Jobs was relentless in his pursuit of perfectionism, understanding what customers wanted before they even knew they wanted it and delivering a delightful product was a big  key to Apple's success. He was focused on evolving and delivering unique products.


    Steve Jobs was a great example of a successful startup founder.  He was willing to take risks and absorb failure. He also had a team in place to help keep him from spending the company into oblivion. This is a great example of having boundaries in place to put oneself in check. It is important to recognize what is outside of one's area of expertise and to find help from those who are knowledgeable.

    Timestamps


    0:00:58 Conversation Summary: Apple's Early Financial Success

    0:03:43 Exploring the Success of Apple's Early Startup Phase

     

    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

     

    9 min
  • Innovation: The future of manufacturing

    Summary notes:

    David Jones is 34 years old from Jonesborough, Arkansas. He attended the University of Arkansas in Fayeville for college and studied industrial engineering. He originally wanted to design prosthetic limbs but changed his mind and decided to study industrial engineering because of its prestige. During college he got a couple of internships in an industrial setting and discovered that he enjoyed working with tangible things. He worked at Frito Lay's largest plant in the world as his first job.


    The conversation is about how emerging technologies are having an impact on the industrial industry.  Additive manufacturing is one of the biggest changes in the industry which is the process of starting with basic building blocks of material and forming it into the desired thing.  3D printing is an example of additive manufacturing, and that it can create incredibly complex and specific forms of material within a short amount of time. There are two dominant types of 3D printing machines (but many more), those that print with metal and those that print with plastic.

    3D printing is already used in many everyday objects, such as Invisalign braces and medical devices. Finally, the speaker noted that the best way to get in contact with them is on social media.

     

    Timestamps



    0:02:56 Exploring the Impact of Emerging Technologies on the Industrial Industry with

    0:08:36 Conversation about 3D Printing -Exploring the Process and Applications 

     

    Follow 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.

     

    12 min
  • Investing: Deflation trends towards abundance

    Summary notes:

    This episode discusses the concept of deflation.  Deflation runs counter to the current world's banking system that runs on inflation. The book "The Price of Tomorrow" by Jeff Booth explains that deflation is a good thing because it means the cost of living is going down over time. Technology is a manifestation of our understanding of the laws of the universe and as our knowledge of those laws expand, it should lower the cost of things. However, humans build their value structure on top of those old prices and resist those lower costs. Politicians pass legislation to regulate prices and keep them artificially high, which goes against the laws of nature, where the prices should be free and abundant.

    Whether you experience deflation or inflation comes down to where you keep your savings and where you deploy your talents.  

    Timestamps



    0:01:50 Exploring the Benefits of Deflation

    0:04:06 Exploring the Impact of Technology on the Economy and Cost of Living

    0:12:24 The Impact of the Gold Standard on the American Economy

     

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

    Powered by Stone Hill Wealth Management

     

     

    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
  • Investing: Why banks keep failing in this environment

    Summary notes:

    The current financial system is a fractional reserve banking system, which means banks lend out more money than it has in its reserves. If customers withdraw their money all at once, banks cannot cover the amount owed.


    With fears of financial instability in the banking system, wealthy people (who are aware of the banking system) are moving their money to too-big-to-fail institutions to protect it along with a slow drain of money from the banking system to alternative assets such as bitcoin, stocks, real estate, and gold. 

    Well known economic experts have been warning of a potential banking crisis, and now that it is here, people are scrambling to figure out what to do with their money long term to counteract the potential inflation that’s speculated will be needed to fix the current system. 


    Timestamps



    0:01:27 Overview of Fractional Reserve Banking System and Bank Failures

    0:03:43 Analysis of the Current Banking System and the Response from Wealthy Investors

    0:07:10 The Impact of Low Interest Rates and Money Creation on Investment Strategies

     

    Join the Wealth Building Made Simple Newsletter waitlist: 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.

     

    11 min
  • Investing: Buying Louis Vuitton as a bet on NFTs

    Summary Notes:

    There are so many ways to express investment trends.  Phillip thinks of investing in NFTs like investing in culture.  The digital culture in essence will be no different than the culture we understand in the physical world.  It will just be express different.  

    The idea is that strong brands from the physical world, will inevitably realize the profits in the digital world where their IP and Brand will value at a whole new level for generations to come.   

     

    Join the WBMS Newsletter waitlist: https://www.wealthbuildingmadesimple.us/subscribe

     

    Powered by Stone Hill Wealth Management

     

    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
  • Business: Embracing technology in your business

    Summary notes:

    Integrating technology into your practice can help you streamline processes and make your work more efficient.   There are various types of technology that can be integrated into your practice, such as software for financial planning, budgeting, and project management, etc. It’s important to  keep up with the latest developments in technology in order to stay competitive while also having processes set up to protect company and customer data. 


    Timestamps


    0:01:11 Conversation on Utilizing Chat GPT and Appropriate Safeguards

    0:03:17 Data Security Protocols for Chat GPT Platforms

     

    Join the WBMS newsletter:

    https://www.wealthbuildingmadesimple.us/subscribe 

     

    Powered by Reiff-Martin CPA and Stone Hill Wealth Management

    https://www.reiffmartincpa.com/

    https://stonehillwealthmanagement.com/

     

     

     

    7 min

About Wealth-Building Made Simple

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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.