Wealth Formula

Wealth Formula

By Buck JoffreyBusinessInvesting
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Wealth Formula episodes

  • 128: The Roaring 2020S And The Depression Of 2030
    It is extremely difficult to predict the financial future but one private economic firm has done it with extraordinary accuracy since the 1940s during which time they have been right almost 95 percent of the time. They predicted the 2008 meltdown 3 years before it happened and they predicted all of the upside we have seen over the past decade.
    Want to know what they are predicting next? I sure do and I’m taking it very seriously. If you want to know why, make sure to listen to this week’s episode of Wealth Formula Podcast as I interview Dr. Alan Beaulieu of ITR Economics.
    45 min
  • 127: Tom Wheelwright and Tax Free Wealth 2.0
    Never try to convince a fool that he’s a fool. He won’t believe you anyway.
    I hate to say it, but that’s why I never talk money with people unless they bring it up with me first. That’s what’s great about being a podcaster. People CHOOSE to listen to you or to be on your email list.
    In fact, I recently invited people to attend a live webinar on some wealth strategies that I have studied extensively and am close to executing on. I thought it would be fun to have people see how I look at things in real time and add their feedback.
    After all, I don’t know it all. In fact, the reason I am as successful as I am is because I DON’T PRETEND to know it all. I try as much as possible to look at every opportunity with an open mind and poke holes in it.
    Curiously, last week, I got an email from someone in telling me that all of the things I was looking at were “garbage”. Of course I welcomed the dissent and invited him to join the webinar and explain why. He wrote back that he “espoused” the teaching of the White Coat Investor and Physician on Fire who did not like these products and, therefore, he would not attend.
    I wrote something snarky back which I should not have. Instead, I should have remembered, “never try to convince a fool that he’s a fool”. By the way, that product I was talking about is used by most of my nine figure net worth friends who might know a thing or two that doctors might not. It's similar to Velocity Plus.
    And to be clear, I’m not saying that disagreeing with me is tantamount to being a fool. What I am saying is that “espousing” others in the world of finance is stupid. I don’t want any of you to follow all of my words blindly. I want you to challenge it.
    If I say I don’t like something, tell me why I should. If I say something is a great deal, tell me why it’s not. Listen to what others have to say and process for yourself. If you don’t agree with me, don’t just say you play for a different team and send me an article that doesn’t even pertain to the product I’m talking about!
    I don’t want lemmings like this in my community. Please unsubscribe from my list! Go die broke like the rest of them. I didn’t come to you, you came to me.
    The stupidity drives me crazy I have to tell you. Unfortunately, it’s usually the doctors who think they know it all. It’s from all that positive reinforcement we got in school for getting A’s. It makes us believe we are smarter than we are. The truth is, when it comes to money, most doctors could use a boost to the old financial IQ.
    I get fired up about stuff like this. You know what else I get fired up about? Taxes! Just like financial strategies, everyone loves to tell you that you “can’t do that” when it is clear as day in the tax code that you can.
    I remember my first CPA out of residency who was supposed to be conservative and who most of the doctors I knew used. I might as well have used turbotax.
    Then I learned of Tom Wheelwright and it completely changed the way I view not only taxes, but business and investing and it is a pleasure to have him back this week on Wealth Formula Podcast. Don't miss it!
    Shownotes:
    [13:30] Buck introduces Tom Wheelwright
    [16:00] Employees got hammered
    [18:30] The 20% tax deduction for LLC
    [23:30] Tax your way to wealth
    [30:00] How it works for the bigger companies
    [34:00] Wealth Ability
    wealthability.com
    54 min
  • 126: Ask Buck
    Over the years, I have come to believe that most everyone can learn just about anything. Some of us might have a shorter learning curve for certain things and get labeled as “smart’ in school, but that doesn’t equate to mastery which can only be achieved through repeated practice.
    Money-talk is no different. It’s just a different language. The more you hear it, the more you eventually just know what’s going on. It’s not brain surgery.
    But, you gotta start somewhere and my podcast might be a good place to do that.
    In the spirit of that, we back up a little bit on Wealth Formula Podcast this week with another episode of AskBuck.
    57 min
  • 125: Wealth and the Deathbed Framework
    For me personally, some of the most vivid memories of childhood are going to professional hockey, football, and baseball games. I remember going to see the Rolling Stones and the Red Hot Chili Peppers. I remember very little about the stuff people gave me over the years.
    The experiences are what I will take to my deathbed and those are the things, in my opinion, that are important to splurge on a little bit and start collecting as they will always be with you.
    Experiences, in the end, are the ultimate currency of a life well lived.
    My guest on Wealth Formula Podcast today has had enough interesting experiences for multiple lives and has given others even more.
    His name is Steve Simms and on this week’s Wealth Formula Podcast we talk about how his company might be able to enrich your experiential life.
    51 min
  • 124: Real Estate Millions with Grant Cardone!
    https://www.wealthformula.com
    Leverage in the form of bank debt is a double edge sword.
    Using debt to buy cash flowing assets is perhaps the single most powerful weapon we can use to create wealth and the thing that makes real estate the asset of choice for the ultra-wealthy.
    The problem is that leverage is a tool that you must learn to use because, after all, a fool with a tool is still a fool.
    Leverage must be deployed carefully based on the asset and the market.
    This week on Wealth Formula Podcast, Grant Cardone is here to talk about building wealth by leveraging real estate, and he has made a few hundred million doing exactly that!
    48 min
  • 123: Invest Like a Centimillionaire with Richard Wilson!
    I'm always looking to see what the people with more zeros on their personal financial statement than me are doing.
    A good example of that is the family office industry.
    When you see what the family offices are doing, you are watching the centamillionaires investing habits.
    I am delighted to have Richard C. Wilson back on Wealth Formula Podcast this week. He is the founder of the Family Office Club and the guy to know in the industry if you want to know what is top of mind for the ultra-high net worth.
    46 min
  • 122: Cash Flow: Reality and Myth
    Buck Joffrey, host of Wealth Formula Podcast interviews MC Laubscher of Cash Flow Ninja Podcast. Buck and MC discuss issues around cash flow including things to look out for when investing. The Wealth Formula Banking (aka infinite banking) concept is also discussed as a potential cornerstone to any investing portfolio. Discussion also includes opinions on cryptocurrency and how to choose investments.
    53 min
  • 121: Harvard Professor Explains Libertarian Ideology
    Wealth Formula Podcast host Buck Joffrey discusses Libertarian philosophy with Harvard director of the department of Economics, Dr. Jeffrey Miron.
    Dr. Miron discusses both the financial and social aspects of libertarianism. He also discusses capitalism and why the United States is not a true capitalist society in the purist sense.
    Dr. Miron discusses some of the solutions to the national debt using Libertarian-influenced policy changes.
    36 min

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The Wealth Formula - by Buck Joffrey