Wealth Formula Podcast

I don't know about you, but I love the 4th of July holiday. I love getting together with family and watching fireworks—that's for sure. But the 4th of July, to me, reminds of the greatest advantage with which I was born—the opportunity to grow up an American. I am two generations away from poverty in India. My dad came this country in the late 1960s on an engineering scholarship. Before long, he w...

I've really been thinking about this thing lately that they call the law of attraction. I'm sure you've heard of it. Remember a few years back when that book, "The Secret" came out and they made a movie of it as well? Actually, that book was sort of a rip-off of "the secret" that Napolean Hill talks about in Think and Grow Rich which was written about eighty years earlier. The concept is simple—yo...

As you know, I left medicine entirely about a year ago. I still have a couple of medical-related businesses but that's about it. Without question, I have moved on. All of my physical and emotional energy are devoted to things outside of medicine. Why? Well, I used to think it was a touch of attention deficit disorder. Sort of that—"been there done that" attitude. The thing is, when I think back to...

Everywhere I turn, it seems like someone is talking about how the market could crash any day. As I write this, I see that the Dow has taken a beating today because of the Trump "tough on China" rhetoric. Tariffs, rising interest rates, ballooned asset prices—is this baby going to blow or what? I don't know the answer to that. Last week, we had the Chief Economist of Fannie Mae on the show. He didn...

If you listen to Wealth Formula Podcast, there is a good chance you listen to other shows with similar themes and opinions. In my niche, the one on-going theme is that the zombie-apocalypse is just around the corner. The zombie apocalypse is of course another financial meltdown reminiscent of 2008 or worse. And to be fair, it could be on its way. The problem is that people started saying that almo...

Robert Kiyosaki told me that Rich Dad Poor Dad was written to be a promotional piece for his Cash Flow board game. He really did not write it with the intent of making money on the book itself. Well, that little promotional piece ended up being the number one best selling financial book of all time—not bad! Countless people that I know have been touched by Rich Dad Poor Dad and credit it with tran...

Why is it easier for the rich to get richer? Why is it that the "first million" is the hardest? Well, there's lots of reasons for that and I go through them in some detail in Your Roadmap to Real Wealth. But one very important reason that the rich get richer is because they have more money to invest. I know what you're thinking right now, "Wow, Buck, you are a genius!" Ok it sounds really simple....

Some times when I go back and listen to my podcasts from when I first started this show, I think to myself, "This guy is clueless." Of course I wasn't clueless. I still knew more than most about investing but man have I evolved. The key to that evolution has been my ability to not be dogmatic about anything. That's tough—especially in the investing world. The paper people think that real estate in...

I am proud to say that I have overcome a major handicap to become a successful entrepreneur. It took me 33 years to figure out how to get past this obstacle… but I did it. I'm proud of that fact because very few people with this fate in life become successful business people and even fewer become successful investors. What was this handicap you ask? Well, you see…I was born an A student. I got goo...

It's actually not that hard to make money. Yes... I said that. And, I mean it. You see, everywhere I turn, I see opportunity. Why am I seeing things that others aren't? Well, I think it's because I'm not looking the same place that most people are. You see, there is a herd mentality amongst investors. We see what others are doing and we want to do the same. The problem is that when a lot of people...

We are living in a world that is technologically transforming at light speed and distributed ledger technology is on the cusp of that metamorphosis. Most people think of distributed ledger technology in terms of bitcoin—but bitcoin only scratches the surface of what will be the most important technological advancement since the internet. That is the reason that when my cryptocurrency portfolio dro...

I know I'm always ranting and raving about the evils of Wealth Advisors but the reality is that I have learned a great deal from some of them. You see, there is a difference between Wealth Advisors who work for you and those that live OFF of you. There is also a big difference between Wealth Advisors who actually work with WEALTHY people compared to those who work with your typical professional wh...

When I was a kid, $20 dollars seemed like A LOT of money. When I was a surgical resident making less than $50,000 per year in San Francisco, making $300,000 like my professors sounded like A LOT of money. Since embarking on my entrepreneurial and professional investing journey, I have had $300,000 MONTHS on multiple occasions. But making $10 million dollars in one year still sounds like A LOT of m...

One of the reasons I don't like investing in the New York Stock Exchange is that buy the time a stock become publicly traded, most of the upside is already gone. Let's take Square, Inc. for example. This is the mobile payments firm with that software that allows pretty much anyone to take credit card payments. Nice idea…sure and I don't doubt that this company has a bright future. But when you loo...

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...

Before I had a clue on how to invest, I thought I could just figure it out on my own. How hard could it be? After all, it's not brain surgery right? And to a certain extent that is true. The math is quite easy. And yes, there is a simple equation. Wealth=leverage(Mass x Velocity). But the problem is, you have to believe the numbers that you plug into that equation in order for you to invest with c...

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? B...

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...

"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...

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 m...

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...

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...

The Chinese word for crisis and opportunity is one and the same. I know this from personal experience. My entrepreneurial career was launched because of a crisis. It was 2009 and I had my first job out of training at a company called Lifestyle Lift. You may recall late night infomercials showing miraculous rejuvenation of aging faces. As it turns out, Lifestyle Lift was basically a facelift mill....

Why the heck did I start a podcast anyway? A lot of people ask me that. Well, it went something like this. I used to listen to podcasts all the time—most of them real estate related. But after a while, I realized a few things. First of all, even if I liked a particular podcast, a good chunk of the shows really didn't relate to me at all. For example, the shows about making a few thousand dollars f...

I don't have an IRA or a 401K. In fact, most people I know who are higher net worth do not. You see, what I'm realizing more and more as I continue to gradually climb up this wealth ladder is that there seems to be a separate set of rules at each stop. Don't get me wrong. I don't think there is anything wrong with the traditional retirement account paradigm. It's just that there are so many other...