Wealth Formula Podcast

By Buck JoffreyBusiness Investing

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Wealth Formula Podcast episodes

March 18, 2018 098: Monetizing What You Know with Jonathan Levi!
When I first learned about the concept of cash flow investing, it was like a religious experience. In my case, I went around everywhere proselyting the virtues of cash flow investing to my friends. I was so excited about the concept that I couldn't stop talking about it. In the process, I bored the heck out of a lot of people! But I couldn't help myself. The idea is so simple and elegant, right? Buy things that throw off monthly cash flow. When you have enough cash flow, you can "retire"! Indeed, all of this is true. But… over the years, I figured out that it's a little bit more complicated. It always cracks me up when I see someone have the cash flow revelation moment and the lights go on. They talk about their passive income goals and how they are going to retire in 5 years by buying real estate—even if they are currently broke! And the reality is that when you listen to a lot real estate podcasts out there, it might lead you to believe it is just that easy. Here's the problem though. In order to create passive income, you have to have money in the first place! It's math right? Remember, the Wealth Formula? Wealth= Leverage (Mass x Velocity). Let's just focus on mass for a second. Mass means how much money you have to invest. If you have no mass, it doesn't matter how much leverage and velocity you use. You still won't be able to create wealth. This issue isn't something that affects the broke either. I talk to plenty of high paid professionals who like the idea of replacing their W2 incomes with "passive" income. If you make $250,000 per year, that's not an easy feat! If you average 10 percent cash on cash, you have to get $2,500,000 into the machine to create that stream of income. Doable yes but most of us are not that patient. What if you want to move quicker? What are your options? Well—for one, understand that you have many options. If you want to move quicker, you might have to broaden your investing horizons beyond the real estate box. We might have to look into buying or starting businesses that produce a lot more income. These businesses can either serve as mass to accumulate more real estate or, like in my case, can serve to be stand-alone "passive" streams of income. Of course all of this can sound intimidating if you are a hard working professional already slugging it out for 50 hours per week. Who has time for all of this? But understand that in order to create more income, you really only have two options. Either you have to buy it (like real estate), or earn it with your time. If you can't afford to buy more, then you have to earn it and that will take more of your time. But taking more of your time doesn't mean that it has to be another full time job you add to your current busy schedule for the next twenty years. You can also invest a certain amount of time up front just like you put down a lump sum of money to buy a rental house. Then, you can leverage technology. Sound intriguing? Well, it should! My guest on this week's Wealth Formula Podcast is going to show us exactly how to do that. So…if you want to speed things up and get on the golf course, you won't want to miss this week's conversation with Udemy expert Jonathan Levi! Shownotes: [00:07] Introduction [08:59] Buck introduces Jonathan Levi [10:20] Jonathan's journey [15:57] What is Udemy and how does it work? [17:40] Jonathan's experience with Udemy [22:49] Is Udemy the an option for YOU as a stream of income? [28:39] What are the more appealing courses from the buyer's perspective? [33:30] How do I get started? (The Branding You™ Academy) [39:43] How to reach Jonathan Levi - jle.vi [42:45] Outro
43 min
March 11, 2018 097: Profiting from Broadway with Erica Schwartz!
If you're heading into a dark cave for the first time, bring someone who's been there before. That's sound advice--not only for exploring caves, but also for investing your money. In fact, when it comes to investing money, it would be even better if you brought a geologist with you who had previously studied that cave extensively and had a map of it along with a great big flashlight! You see...the mistake most people make is that they believe investing is unpredictable. They are brainwashed into believing that by Wall Street. "Invest for the long term in a portfolio of stocks, bonds, and mutual funds". What does that mean anyway? It means, "Give me your money so I can pull off a bunch of fees. And when you see your account go down by 30 percent in the next correction, it's not my fault. It's an act of nature." Are we really that helpless when it comes to controlling our financial future? God help us if we are! I can tell you from my own experience that we are, indeed, not helpless. If you feel that way, you have not tried hard enough. You have not spent any time on financial education or trying to build your network--your tribe. After all, your network equals your net worth. Indeed, one of the most profound discoveries I made during my quest to understand the way that the ultra-wealthy invest is this--it's not an accident that the rich get richer. The wealthy don't rely on luck--they engineer their wealth. Wealth is created, it does not spontaneously appear. You can't expect to get wealthy by simply hoping to get hit by it. Now listen, I'm not saying that the rich never lose money. They speculate sometimes and sometimes they lose. But the bets they make are asymmetric. Wins result in HUGE wins and losses are easily absorbed. In order to make sure they have more wins then losses, they make sure they have insider information. I'm not talking about illegal stuff. I'm talking about being deeply connected with people who intimately know an industry or an asset class that have tremendous track records. Simply put…when they bet on something, they are right way more often then they are wrong. When you find people like this, you tag a long! Anyway, Broadway musicals are completely foreign to me. Yet, they can be incredibly lucrative if you invest in the right one. Frankly, I didn't even know you could invest in Broadway musicals until I met this week's guest on Wealth Formula Podcast: Erica Schwarz. When it comes to musicals, she is a true expert and she is going to illuminate this industry for us and how we can profit from it. She will be our guide into this dark cave of Broadway! Make sure to check out the show. Shownotes: [00:07] Introduction [09:41] Buck introduces Erica Schwartz [10:25] Erica's theatrical background [12:39] What does Erica's job entail [14:16] The history of Emerson Colonial Theatre [16:42] How does the theatre business function [27:43] How to approach the theatre business [44:15] Find out more about Erica and the theatre business [email protected] [46:32] Outro
47 min
March 04, 2018 096: Why Solar Might Start to Shine with Stephen Honikman
I don’t even watch the news anymore. The advent of the 24 hour news cycle combined with our reality television culture has changed what used to be “news” into entertainment. The fundamental problem with this juxtaposition of news and entertainment is that something that was supposed to be unbiased—just facts becomes something that has to […]
1 hr 3 min
March 04, 2018 096: Why Solar Might Start to Shine with Stephen Honikman
I don’t even watch the news anymore. The advent of the 24 hour news cycle combined with our reality television culture has changed what used to be “news” into entertainment.
The fundamental problem with this juxtaposition of news and entertainment is that something that was supposed to be unbiased—just facts becomes something that has to have an angle.
Plain old facts just aren’t that interesting anymore. They have to be layered in commentary—commentary that sells.
The reality television culture that we live in dictates that anything on TV must be controversial. If it’s not controversial, it’s not interesting.
Think about it. Why do people watch reality TV anyway? Because of the drama—we love to watch a car wreck when we can be safe from harms way.
Reality television allows for dramatic stories of love, hate and betrayal. That’s what makes it addictive. Facts are not addictive.
The irony of the times we live in is that reality TV culture has created a world in which there is, in fact, no reality.
You see this from the highest office in the land—Trump says everything is fake news!
Now, to be clear, I’m sure Donald Trump does not get the benefit of the doubt from the press but does that mean we throw out the baby with the bath water? In other words, if the news is fake, what’s left to believe.
Listen—this is not meant to be written as a political piece by any means. I’m a guy with strong libertarian views but I’m certainly not one to cast aspersions on politicians.
I just think we need to start to return to a fact based society. If we cannot at least establish facts, then how can we ever make meaningful decisions about our future?
This kind of discourse is probably no more important than on the subject of climate change. A few weeks ago, I had on Alex Epstein—author of the The Moral Case for Fossil Fuels.
A lot of you were not happy about that and some of you were quite happy that I had Alex on the show. I just wanted to hear his perspective.
What was funny about that show is that Alex did not actually say that climate change is not real. His thesis was actually whether or not fossil fuels are good for humanity. He also didn’t say that alternative fuels were bad.
But… it got people fired up on both sides—sort of like a reality show I guess.
Anyway, I’m a facts guy and that’s all I’m after. And my guest this week on Wealth Formula Podcast is a pretty hard core alternative energy guy although one who manages to keep his rationality.
You’ll learn all about the facts behind solar energy and alternative fuels and also how they might make sense to add to your portfolio.
So…if you are looking for some reality, make sure to tune in to this week’s show with Stephen Honikman!
Shownotes:
[00:07] Introduction
[11:37] Buck introduces Stephen Honikman
[14:55] Stephen’s counter argument to Alex Epstein
[18:54] The economic argument for alternatives over fossil fuel
[24:29] Alternative vs fossil fuel – Dollar for dollar
[35:22] Why solar?
[38:38] Solar energy and tax
[51:09] Investing in solar energy
[01:00:47] Get in touch with Stephen: https://wisercapital.com
For Solar energy inquiries, email Stephen at: [email protected]
For other inquiries, email Stephen at: [email protected]
1 hr 3 min
February 25, 2018 095: Untold Secrets of the Successful: Jorge Newberry
“Sexual transmutation is the most powerful tool in existence when it come to creation, invention, accomplishment, creativity, advancement, and achievement.” – Napolean Hill, Think and Grow Rich This is a quote from one of my favorite books. It’s in the chapter than no one talks about on sexual transmutation. If you have read the book, […]
46 min
February 25, 2018 095: Untold Secrets of the Successful: Jorge Newberry
“Sexual transmutation is the most powerful tool in existence when it come to creation, invention, accomplishment, creativity, advancement, and achievement.”
– Napolean Hill, Think and Grow Rich
This is a quote from one of my favorite books. It’s in the chapter than no one talks about on sexual transmutation.
If you have read the book, you know why. It’s kind of a weird chapter in the middle of the most mimicked book in Self-Help history.
In a nutshell, Napolean Hill says that harnessing sexual energy is the most powerful and efficient means of accomplishing our platonic goals.
It took me a little while to understand what he was saying, but here is how I interpret this.
If you have ever been a teenage boy, you know there is a period of time, for most, where little else seems to matter than teenage girls. I certainly remember that.
I’m not talking about anything necessarily seedy. I’m just saying that there is a certain obsession that accompanies that special time in life.
It’s hard to think about anything else other than the girls you wish would be your girlfriend or, at least, give you the time of the day.
Of course most people eventually find a way to balance these thoughts with other important details in life. However, it’s hard to argue that there is anything more powerful than that kind of obsession.
Now hold on to that feeling of obsession that I’m talking about and now… take the sex reference out of the equation. Have you ever been so obsessed with something in your life that you can’t stop thinking about it?
I have. When I was a kid growing up in Minnesota, ice hockey was on my mind ALL THE TIME and had it not been for a career ending back injury, I would have played college hockey and who knows how far I could have gone.
The funny thing is that by Minnesota standards, I started playing organized hockey a little late. I was 9 years old. When I first started skating I couldn’t even stop. But four years later, I went from the worst guy in the park to one of the best guys on one of the state’s best teams.
I was obsessed. I ate, breathed, and slept hockey. That made up for a lot of my other shortcomings.
Over the years, I have felt similar obsessions at times in my life. For example, when I decided I wanted to be a doctor, I was obsessed with how I was going to get into medical school. And finally, as an entrepreneur, I have been obsessed with the creation of various businesses throughout my career.
The one thing that drives obsession of all kind is the desire for some kind of accomplishment. When it comes to teenage boys, we know what that is. For the entrepreneur, it is something very different.
The most successful entrepreneurs I know are not, in fact, driven by money. They are driven by the idea of creating something out of nothing and seeing it come to life. Money…is just a way to keep score.
I use the example of entrepreneurship here but it really applies to just about anything. Napoleon Hill’s sexual transmutation is nothing more than a reference to the power of being obsessed with something. Olympic athletes, world class chess players, musicians, you name it. The highest achievers in the world harness that obsessive energy to do extraordinary things.
My guest on this week’s Wealth Formula Podcast is a kindred soul. He is as much of a raging entrepreneur as I am and he’s one of the most interesting people I have ever met. DO NOT MISS this week’s show as I discuss the spirit that drives entrepreneurs with Jorge Newberry.

Shownotes:
[00:07] Introduction – Obsession
[09:53] Buck introduces Jorge Newberry
[11:14] Jorge’s story
[13:19] It’s NOT about making money
[14:48] The entrepreneur gene
[19:16] American Homeowner Preservation
[27:09] Jorge’s next step
[30:22] Note Buyer Bootcamp
[37:33] How much do I need to get into this business?
[41:08] Take the opportunity to receive 12% return on AHP before May 24th
[42:22] Get your $200 coupon from wealthformula.com and attend the Note Buyer Bootcamp
[45:13] Outro
46 min
February 25, 2018 Untold Secrets of the Successful: Jorge Newberry
"Sexual transmutation is the most powerful tool in existence when it come to creation, invention, accomplishment, creativity, advancement, and achievement." - Napolean Hill, Think and Grow Rich This is a quote from one of my favorite books. It's in the chapter than no one talks about on sexual transmutation. If you have read the book, you know why. It's kind of a weird chapter in the middle of the most mimicked book in Self-Help history. In a nutshell, Napolean Hill says that harnessing sexual energy is the most powerful and efficient means of accomplishing our platonic goals. It took me a little while to understand what he was saying, but here is how I interpret this. If you have ever been a teenage boy, you know there is a period of time, for most, where little else seems to matter than teenage girls. I certainly remember that. I'm not talking about anything necessarily seedy. I'm just saying that there is a certain obsession that accompanies that special time in life. It's hard to think about anything else other than the girls you wish would be your girlfriend or, at least, give you the time of the day. Of course most people eventually find a way to balance these thoughts with other important details in life. However, it's hard to argue that there is anything more powerful than that kind of obsession. Now hold on to that feeling of obsession that I'm talking about and now... take the sex reference out of the equation. Have you ever been so obsessed with something in your life that you can't stop thinking about it? I have. When I was a kid growing up in Minnesota, ice hockey was on my mind ALL THE TIME and had it not been for a career ending back injury, I would have played college hockey and who knows how far I could have gone. The funny thing is that by Minnesota standards, I started playing organized hockey a little late. I was 9 years old. When I first started skating I couldn't even stop. But four years later, I went from the worst guy in the park to one of the best guys on one of the state's best teams. I was obsessed. I ate, breathed, and slept hockey. That made up for a lot of my other shortcomings. Over the years, I have felt similar obsessions at times in my life. For example, when I decided I wanted to be a doctor, I was obsessed with how I was going to get into medical school. And finally, as an entrepreneur, I have been obsessed with the creation of various businesses throughout my career. The one thing that drives obsession of all kind is the desire for some kind of accomplishment. When it comes to teenage boys, we know what that is. For the entrepreneur, it is something very different. The most successful entrepreneurs I know are not, in fact, driven by money. They are driven by the idea of creating something out of nothing and seeing it come to life. Money…is just a way to keep score. I use the example of entrepreneurship here but it really applies to just about anything. Napoleon Hill's sexual transmutation is nothing more than a reference to the power of being obsessed with something. Olympic athletes, world class chess players, musicians, you name it. The highest achievers in the world harness that obsessive energy to do extraordinary things. My guest on this week's Wealth Formula Podcast is a kindred soul. He is as much of a raging entrepreneur as I am and he's one of the most interesting people I have ever met. DO NOT MISS this week's show as I discuss the spirit that drives entrepreneurs with Jorge Newberry. Best Regards, Buck Joffrey Shownotes: [00:07] Introduction - Obsession [09:53] Buck introduces Jorge Newberry [11:14] Jorge's story [13:19] It's NOT about making money [14:48] The entrepreneur gene [19:16] American Homeowner Preservation [27:09] Jorge's next step [30:22] Note Buyer Bootcamp [37:33] How much do I need to get into this business? [41:08] Take the opportunity to receive 12% return on AHP before May 24th [42:22] Get your $200 coupon from wealthformula.com and attend the Note Buyer Bootcamp [45:13] Outro
46 min
February 18, 2018 094: The ONE thing with Jay Papasan
Are you a great multitasker? Are you sure about that? After all, it's impossible to think about two different things simultaneously (I am a former brain surgeon, I know). So, what does it mean to be a multitasker anyway? Well, I think most people loosely define this term as being able to get a bunch of stuff done at the same time. But for those of us who do get a lot of stuff done at once are we multitasking or do we just have good time management skills? I have to tell you that I have always fancied myself a great multitasker as well. I have warn that badge with pride. In retrospect, however, I'm not really at my best when I multitask. I'm at my best when I "serial task". In recent years, I have started to realize that multitasking might actually be SLOWING me down. How many times have you been working on something, shifted your thoughts to work on something else, and then come back to the original project—all within a few minutes? Do you not think that you are losing some efficiency when you transition your brain from one task to the other? Of course you are. It's inefficient. You are losing precious time and energy. In fact, I have come to HATE the idea of multitasking. I still find myself doing it sometimes and it drives me crazy! Not only does it make you less efficient, but it also lends itself to what Zen Buddhists call "monkey mind"—the tendency of thoughts in your head to fling around like drunken monkeys jumping up and down and chattering nonstop. Do you really think this is a good psychological state to be in? I don't. Recently, I read a book from a guy by the name of Jay Papasan—he has cowritten several books with Gary Keller of Keller Williams fame. The book is called, The One Thing, and really crystalized for me what I had suspected all along. Multitasking is not good. In fact, it's actually a consequence of simply not understanding what is important for you to get done in the first place. Multitasking is a bandaid for poor time management skills. And, if you want to underachieve in life, keep multitasking. Don't get me wrong, there is certainly ways of getting multiple things done in short period of time, but there is a way to do it that will take your productivity to the next level. The One Thing is the best book I read last year because it defines what creates that increased level of productivity. Make sure to tune in to this week's Wealth Formula Podcast where I interview author Jay Papasan. This conversation was extremely thought provoking. Don't miss it! Shownotes: [00:07] Introduction [07:49] Buck introduces Jay Papasan [09:00] The motivation to write The One Thing [12:12] Common mistakes to setting goals and prioritizing work [16:25] The Myth of Multitasking [23:44] Meditation [25:09] The art of saying NO [32:00] A straight line to achieving your ultimate mission in life [37:30] Learn more about Jay - theonething.com [40:19] Outro
41 min
February 11, 2018 093: Self Storage is Sexy and Profitable!
Funny thing happened over the last few weeks—I learned how much people love the idea of getting rich fast! I'm sort of half way joking about this but we had two funds—both Reg D 506c offerings so I'm legally clear to talk about them. Anyway, one was a highly speculative crypto fund. I emphasized several times that you could lose all your money but that you could also potentially make a lot. After all, I 10X'd in 4 months! Despite the risk associated with the crypto fund, I had soft commitments of over $2 million dollars within four hours of the presentation! The second fund was a value add real estate deal—double digit returns, real property, great tax advantages and recession proof. In many ways, what I consider to be the ideal core portfolio investment. 12 hours later, we had soft commitments of about $1 million dollars. Now don't get me wrong. That's still pretty good but it tells us a little bit about our own human nature doesn't it? I also want to emphasize that it takes a lot of self-control for me, personally, to not preferably reach for the shiny object over the slow and steady one. Obviously I'm doing a crypto fund so I'm not against this kind of speculating. I just want to remind you, and myself, that we also need to focus on our core investing principles: real assets, cash flow, etc. Make sure you don't ever speculate with money you can't lose. Of course any investment comes with the risk of losing money but some are obviously less risky then others. For example, I have recently become quite interested in the self-storage industry. Frankly, I had no idea how it performed in recessions and it's consistent track record over the last 3 decades. It also has some market indicators that suggest that this area of real estate is only going to get hotter and might be the best way to both maximally capitalize on an up market and survive in a down market. Much of what I learned about this area was from my guest on this week's Wealth Formula Podcast:Lew Pollack, managing director of Reliant Real Estate Management. It may not sound sexy, but one thing I have learned over the past several years is that some of the most profitable businesses are the ones that kind of sound boring. Self-storage is a great example of that. Make sure you listen to the show! Shownotes: [00:00] Introduction [11:41] Buck introduces Lew Pollack [12:45] Lew's adventure in self-storage [15:37] How does self-storage stand out from other asset classes [19:07] Why is self-storage recession resistant [21:45] Demographic driver in self-storage [25:50] Tax benefits [26:57] Cost segregation Analysis [19:19] Reliant Real Estate Management, LLC [33:24] Lew's investment strategy [40:55] Outro: Email [email protected] for more information on this self-storage opportunity!
42 min
February 04, 2018 092: Gold, Crypto, and AI with Kenneth Ameduri
Ray Dalio, legendary Hedge Fund Manager and over-all smart guy has been talking about the coming “financial winter” for the last few years. He’s looking at the same things we talk about on this show all the time–near zero interest rates for a decade, ballooning asset prices, quadrillion dollar derivative markets, etc.
Neither Ray Dalio nor I are doom and gloom guys–we were just talking about the facts.
But then…something happened. America got TRUMPED. The stock market took off again and asset prices got even fatter. To top it off, the new tax bill created the biggest tax cut for corporations and wealthy individuals since 1986.
The result–we ain’t going to be seeing winter anytime soon. We’ve got global warming! That is unless there is a black swan event like nuclear war for example.
I saw Ray Dalio on TV the other day and he echo’d that sentiment. He said over the next two year if your money is on the sidelines, “you are going to feel pretty foolish.” the floodgates just opened to massive economic growth and optimism.
So what am I doing? Well, I’m investing and trying to find solid opportunities for my investor club. I’m never sitting on the sidelines anyway. Something is always for sale. And if you want no correlation with the markets at all, there is always life settlements.
But market exposure isn’t so bad right now. Put double digit gains in a product like Velocity Plus that allows you leverage your gains but take no downside and BOOM! You’re going to make some money.
Anyway, we live in interesting times (isn’t that a Chinese curse?)
So, for better or worse, make it work for you.
Kenneth Ameduri has been doing just that as a professional investor an entrepreneur. On this week’s Wealth Formula Podcast, we will discuss everything from gold to cryptocurrency so make sure to tune in.
Shownotes:
[00:40] Introduction
[08:11] Kenneth’s story
[13:30] 2018 in Kenneth’s eyes
[15:55] Politics and the economy
[22:35] The precious metal market
[24:45] The interplay between cryptocurrency and precious metal
[31:57] Artificial intelligence technology
[36:14] Investing in the booming of AI
[38:21] Kenneth’s Crush The Street (https://crushthestreet.com)
43 min