Wealth Formula Podcast

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!)

Lane is your classic highly educated, high wage earning professional. However, he doesn't throw his hard earned money into the stock market. Lane uses his money to buy houses and is gradually phasing out his own need to have a boss. At the age of 30, he's already more than half way to replacing the income generated by his engineering job. The best thing about Lane is that he knew NOTHING about rea...

This week's episode of Wealth Formula features the first of many episodes of "Ask Buck" where you, my fellow professionals looking to transform into entrepreneurs and sophisticated investors, ask me the questions that are on your mind. This week's topics include questions about cash flow versus cash reserves, topics in real estate LLCs, flipping versus cash flow investing and more. Ask your questi...

I approach everything in life similar to the way I approach business. One of my cardinal rules as an entrepreneur is to avoid working IN a business so much that I stop working ON it. For example, if you have a bakery, you don't want to be the one who is baking, doing accounting, and sales at the same time. If you do that, you become too busy to do anything else but daily tasks and, as a result, yo...

Wealth Formula podcast is not a real estate show. However, we do love real estate! Why? Because real estate is real. It's not a piece of paper and it's not a digital equity that you trade on Ameritrade that goes up and down with the whims of global emotion. It is an investment that allows us to own something that has nothing to do with Wall Street. We also love it because it can provide us with on...

Over the last several podcasts I have been impressed by the increasing number of listeners that are tuning in to the show and am really excited about the community we are growing together. For that, I thank you. This week I'm traveling but thought it would be a great opportunity for me to share more about myself with you. A few weeks back I was interviewed by Lane at "Simple Passive Cashflow Podca...

Solving the wealth formula is dissociating time from money. In other words, you no longer need to actively work in order to maintain a particular lifestyle. It is important to know that entrepreneurship is not required in order to get to this point. In fact, if you already have a high-paying job, your quickest way for you to gain financial independence may be to keep your job and focus your attent...

Ask any tax professional about the tax code and they will tell you that it is 90 percent gray. Then why is everyone being so conservative? Well, professionals have a terrible fear of being audited. They have a terrible fear of breaking the law. I get it. No one wants that kind of stress in their life. However, let's talk for a second about how the government creates the tax code and what it is mea...

To be a successful investor, you must have a personal investment philosophy. You need to think about not only the deal but whether or not it fits in with your own goals and your view of the world. In this week's episode of Wealth Formula Podcast, I give you my own framework for investing that has served me well for the last 7-8 years. As a reminder, you can leave questions for me by going to wealt...

I am not your typical physician if you have not figured that out. I am more of a "raging entrepreneur". That doesn't mean I've had only success. In fact, without question, I've failed lots of times but the difference between most people and me is that I keep trying until something sticks. I've used this same approach in brick and mortar multimillion dollar business enterprises, real estate, and…in...