Wealth Formula Podcast

I have said on a number of occasions that Wealth Formula Podcast is NOT a Real Estate Show. So why do we talk so much about real estate? Well, for people who want to grow their wealth, there simply is no other asset class with a better track record and more upside than real estate. The Wealth Formula Principles for Wealth Creation are: 1) Invest in tangible things, not paper. 2) Invest in cash flo...

I have arrived to Southern California and I am now writing to you from my new office which, for the first time in Wealth Formula Podcast History, is NOT a part of my home. This time away from the show has given me some time to reflect. I do have a lot to say to you myself and sometimes the interview format does not allow me to do that. So, I have made a decision that I will do more podcasts in a f...

When I was in high school, I used to BLAST Led Zeppelin on my drive to school. My favorite album was Led Zeppelin IV. My music tastes haven't changed much since then. In fact, my music repertoire pretty much ends 1992--the year I graduated high school. Even '92 is a bit late for most of my favorite music though. My wife, on the other hand, generally likes the newer stuff. But last month, I convert...

Several weeks ago, I sent out a "Weekly Wealth Widget" about BASIC estate planning--the stuff you absolutely have to have to protect your family in case you die. I was amazed at the high percentage of people who did not already have this information. That's downright scary. Listen--no one likes to think about dying much less planning out what happens when you die. Hopefully, you live to be 120 but...

I have been on a real anti-conventional wisdom kick lately if you haven't noticed. You see, I think that conventional wisdom in personal finance is a big Wall Street scam! Invest in stocks, bonds, and mutual funds for the long run? Why is that conventional wisdom? Well, who benefits if you continuously dump money into the equity markets? The market MAKERS of course! Make no mistake, conventional w...

If you haven't figured it out yet, I believe strongly that investing is a team sport. Like team sports, it can be fun and rewarding--especially when you win. I talk to investors in Wealth Formula's Accredited Investor Club all the time and often hear the frustration of those interested in investing outside of the equity markets--they have no idea where to turn. They know they want something differ...

As many you know, I will be leaving Chicago in August to move to Santa Barbara, CA. For the last 5 years, my family and I have gone to the same beach house every August. It always ends up being the best couple of weeks of the year. So last year in August, I did a podcast from that beach called, "What is your dream and WHY aren't you living it???" It was episode 14. I was in an aspirational mood. W...

I have a lot of people in Investor Club who lend to flippers. These notes pay pretty well--I hear over 12-15 percent on a regular basis. These investors ask why they would ever invest in anything with less return. It's a fair question but there is a very good answer. When you lend to people who flip homes, you are investing in a business NOT in an asset. Investing in businesses is inherently riski...

In 1789 Benjamin Franklin wrote, "Our new constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes." Well, if you have paid attention to any of my emails and posts in the last couple weeks urging you to download a report and watch a webinar from my friend, Tom Wheelwright, then you know that stateme...

The other day, I was speaking with a member of investor club and he said that it was very hard for him to look around and see funds (like AHP) that were offering double digit returns and take them seriously. He was comparing them to the low single digits of dividends in the equity markets. If double digits were available to people outside of the markets, why in the world would people buy bonds, he...

Last week, my wife and I took our daughters to a town fair. We stayed until the end and as we were walking out were offered free cases of blueberry yogurt drinks and bottled ice coffees--whatever was left over from what they couldn't sell at the fair. At my urging, my eight year old daughter Camilla accepted all the free inventory and decided to put up a stand outside the house selling the stuff--...

I keep reading about how the equity markets are bracing because of all of the things going on in the news--senate hearings on Trump and Russia, the referendum in the UK, and the fed about to raise rates again. People are worried about how these national and global events will affect their retirement money. Never mind the fundamentals and that price to earning ratios are at record highs for no appa...

I used to be a neurosurgery resident--at least for a couple years before I realized that brain surgery did not suit my lifestyle. Actually, brain surgery was not really compatible with having a lifestyle at all! Anyway, I moved on but I sure did love neuroscience and the brain. When you operate on the brain, it gives you a little bit of a different perspective on what it is to be alive. You realiz...

I'm writing this the day after Memorial day. First of all, I want to take this chance to thank all of you veterans out there for putting your life on the line so that we can live the relatively carefree life that we do. Compared to the rest of the World, we've got a pretty darn good. In my view, we are still the greatest country in the world and I don't see that changing anytime soon. There is no...

It is route important to remember that when I have people on the show, it is purely for educational purposes. I want to expose you to asset classes and hopefully open up a new way of thinking. However, I want to make sure you understand that it does not mean I am endorsing those particular offerings. To be clear, I do my best to only allow people on the show who I have vetted to some degree. Eithe...

Everyone grows up with some kind of belief system that is an amalgam of religion, culture, and life circumstances. These beliefs influence how we see the world and how we behave within it. Make no mistake, belief systems have a lot to do with how successful or not successful you are in life. I am the child of Indian American immigrants. My dad, like many men who immigrated to the United States fro...

Last week's show with Chris Martenson was very popular and for good reason. Chris has done his research and thinks we are in trouble. He also gives us some solutions about how can potentially approach the world that he sees coming. For me, the biggest takeaways were related to some of his incites on social and cultural capital. Even if the world does not end up going to hell in a handbasket, we ca...

I have spoken in the past about how I believe that time is the currency of wealth. In other words, it's not dollars or euros that most of us are after, but rather time. We want to be able to do what we want, when we want. Some of us love our careers and wouldn't change that part of our lives. Some of us would absolutely love to eliminate our careers and do something completely different. What woul...

Should you always invest in things with the highest returns? Well? That's an interesting question. When I first started investing, that's all I cared about. When I bought my first apartment building, I did the numbers and looked at the tax returns. It looked like I was going to get over 25 percent cash on cash. It didn't turn out that way though. It was a D class apartment building that I couldn't...

I just got back from the Real Estate Guys Summit at Sea. Wow!!!--those guys know how to deliver. If you don't listen to their podcast, by the way, you should. It's the Real Estate Guys Radio Show. There are lots of copy cat real estate shows out there but only one Robert and Russ! I learned so much and have so much to tell you that it will have to be split up over the next few weeks. As many of yo...

What is leverage? The action of a lever by definition is to gain some kind of advantage. It can be physical like when you are using a tool or, in finance terms, it is the use of borrowed money to enhance buying capacity (and hopefully increase return on investment). A few shows ago I emphasized that my belief was that coveted currency for most, whether realized or not, is time. I equate wealth wit...

We learn to walk by repeatedly falling down. We learn to talk by first making unintelligible noises. We are hard wired to learn through trial and error but are brainwashed by an educational system that teaches us that doing things a different way is wrong and that failure is bad. The reality is that any great entrepreneur or investor must take chances repeatedly to learn and to succeed.

Buck Joffrey's Wealth Formula Podcast Episode 7 Release date: Fri, 24 Jun 2016

Interview with Jorge Newberry, Director of American Homeowner Preservation LLC. http://www.ahpinvest.com Call: (800) 555-1055

In this episode of Wealth Formula Podcast, we talk with Dr. Eric Tait, MD, MBA about his transformation from an internist to founder and president of Vernonville Asset Management LLC. Dr. Tait gives his insight into the economy and ideas about how to invest your hard earned money (hint: NOT the stock market!)