Wealth Formula Podcast

This week's episode features a discussion with Ian Kurth—radiologist and highly sophisticated investor. Ian is a member of Wealth Formula Network and one of its major assets. He is doing exactly what, in my opinion, every high-paid professional ought to be doing. He has really transformed himself into a sophisticated investor and thought leader on personal finance for our demographic. The current...

It's time for another round of "Ask Buck". This week's episode includes questions on Wealth Formula Banking, cryptocurrency, taxes and multifamily real estate investments. Listen HERE!

If you have been ignoring distributed ledger technology, you will regret it if you don't start paying attention. I understand why people get suspicious of the space. The cryptocurrency ecosystem is full of scammers and hype. Talk of "lambos" and "mooning" can hardly be taken seriously by sophisticated investors. But amidst the din, lies technology that will fundamentally transform the world. I see...

It's time for our next series of "Ask Buck" episodes. These shows have become extremely popular over the years and, if you are new to the Wealth Formula community, are particularly useful to "catch up" on recurring themes in our world. Tune in now for the first "Ask Buck" episode of Q2!

I'm always fascinated by stories of entrepreneurs showing early signs of interest in the world of business as children. Warren Buffett was apparently inspired by a book he checked out from the Omaha library at the age of seven called: One Thousand Ways to Make $1000. He went on to pursue several childhood business ventures such as selling gum and Coca-Cola bottles and, of course, the rest is histo...

In case you didn't notice, we are in the middle of a massive cryptocurrency bull market. We haven't been here since 2017 and who knows how long it will last. For those of you with solid positions, enjoy the run but don't get greedy! I certainly learned my share of lessons from the last cryptocurrency bull run. I could have come away from it with a lot more money than I did if I had done things dif...

What gives something value? Gold has been considered valuable since ancient civilization. It has been used as money, as a store of value, and as jewelry. Gold is also scarce and it is not easy to mine. But…at the end of the day, gold is valuable because of a social construct that says it is and that it will continue to be going forward. The longevity of gold's claim to value certainly adds to its...

The alternative investing podcast ecosystem is full of doom and gloom. It's always that way. Any time we get out of a recession and the economy gets a little hot, everyone's calling for the zombie apocalypse. They tell you to prepare for the worst because the zombies are coming. Start growing your own food and buy lots of precious metals. Because, of course, silver coins are the currency of choice...

"Everyone has a plan until they get punched in the mouth." -Mike Tyson Life is full of surprises…both good and bad. The last 12 months were, to say the least, unexpected. Everyone has a different story. Hundreds of thousands of people died from Covid-19 and left even more people behind to mourn their loss. Businesses closed, people lost jobs and some experienced poverty for the first time. Marriag...

Value is a social construct. Things have value because we, as a society, agree that they are valuable. That is the only reason that gold has the value that it does. Yes, it has unique metallic qualities and it is scarce, but there is no intrinsic quality that gives it the value it has in society. We have collectively assigned that value to it. And to be clear, this is not intended to be a knock on...

I am not an economist but I do recognize the importance of understanding a little bit of macroeconomics to guide me as an investor. After all, financial markets don't move in a vacuum. They are affected by all sorts of things including monetary and fiscal policy. As a reminder, monetary policy is dictated by the Federal Reserve. Essentially, they have two powers that they can wield to impact the f...

Life is not long enough to take advantage of the wisdom that comes with age. It's really kind of a cruel joke of nature if you think about it. You get smarter as the rest of your body becomes less functional and closer to death. This phenomenon really needs to be experienced in order to be believed. I recall listening to a young syndicator recently telling me that experience is over-rated. That's...

It's time for another episode of "Ask Buck"! This week, we field questions on the economy—inflation or deflation, interest rates, and cap rates. We also touch on two sides of the same concept—owning permanent life insurance either your own policy or one that you buy from someone else! Make sure you tune in!

Investing is hard. It's hard because you have to know what you are doing. But it's also hard because you have to be tough psychologically and sometimes do things that seem counterintuitive to your own emotions. Believe me, I'm not immune to psychological miscues. At one point, I owned about 100 bitcoin. But, during crypto winter, I needed some liquidity for another investment and sold most of it o...

A few weeks ago I had my CPA, Tom Wheelwright, on the show to discuss what's going to happen with taxes in the next year or two under the new administration. Of course, the news was generally bad for high-income earners. Taxes will invariably go up. The idea is that the rich can afford it and they ought to pay their "fair share". It drives me crazy when I hear people say that—after all, what's fai...

Nassim Taleb, author of the Black Swan, extrapolates his theories on unpredictable events by suggesting that perhaps the ideal way to allocate your capital is by focusing on the extremes. He says that perhaps the ideal portfolio is one where there is extreme safety on the one hand—US Treasuries for example—and extreme risk and upside on the other. The idea is that you put the money you absolutely...

It's been nearly 5 weeks since my Covid diagnosis. The good news is that my brain seems to be back. The bad news is, I still feel about 40 years older than I am. That said, at least the trajectory is in the right direction. And, as many well-meaning people have reminded me as of late, I'm not exactly a spring chicken anymore. Thanks again for all those who sent me well wishes throughout this time....

Political difference aside, I for one was relieved to see some order restored to the government last week. Whatever policy differences I have with Joe Biden, I believe him to be a man who cares dearly about his country and a man of integrity. As a person who loves this country first above any party, I wish him well and I hope that he can guide us through a difficult part of our history—one defined...

I'm still recovering from Covid so please excuse any typos and oddball things I might say. I am actually on steroids that do make people a bit different psychologically. As an update on my progress, I am about 10 days out from diagnosis. Overall I am relatively stable but have been dealing with something that many Covid patients call the cytokine storm period. At a high level, this means that the...

For those of you in our accredited investor club, you might have noticed an abrupt cancellation of our real estate webinar last Tuesday conveyed by a cryptic message from my assistant, Madalyn. Well, here's what happened. Sunday, I went on a hike with my daughter. She is 11 years old and has the lungs of a marathon runner. I do my best to keep up with her. We do this hike regularly and wanted to s...

When I just finished surgical residency, I took a job with a cosmetic surgery company for a few months before realizing that I was not employee material. It was a hodgepodge group of surgeons there. Some of us were younger guys who recently finished training and were looking for experience. There were also a couple of older guys who had failed in private practice and had become "journeymen" doing...

We are finishing the year off with one final episode of "Ask Buck". This episode has a wide variety of questions with issues ranging from cryptocurrency to child-rearing. Make sure to listen! P.S. Thank God 2020 is coming to an end!

Lots more questions to answer on this Christmas week episode of "Ask Buck"! We talk about real estate markets, equity vs debt in your home and lots more. In the holiday spirit, I even asked a couple of our Wealth Formula Network members to join! Lot's of fun as usual. Enjoy the episode!

It's time for another round of "Ask Buck". This week's episode includes questions on Wealth Formula Banking, cryptocurrency, gold and real estate markets. Listen HERE!

It's time for our next series of "Ask Buck" episodes. It used to be that we just did one of these every few months. But now we get so many questions that it has become a quarterly series! While all of our shows are educational in nature, the nice thing about the "Ask Buck" shows is that material is highly focused on practical information and strategy applicable to most investors. These shows have...