Wealth Formula Podcast

Does it really?

In this conversation, Buck and Zulfe Ali discuss various topics including liability insurance, the economy, and money market funds. They highlight the importance of reviewing and updating insurance policies, the impact of consumer confidence on the economy, and the rising prices in the residential home market. They also explain the difference between money market funds and money market accounts, a...

Oh man…we are getting really sexy with topics on this show! On this week's episode of Wealth Formula Podcast, we are going to talk about liability insurance: malpractice insurance, property insurance—all that kind of stuff. I know this doesn't sound exciting, but do you know the five different parts of an insurance policy and what part is generally the one that will screw you over? I didn't think...

Dr. Jonny Kim managed three impressive career changes going from Navy Seal, to doctor, to NASA astronaut and he did it all by the age of 37. What's your excuse?

Commentary on Sunday Podcast – Mark Skousen from FreedomFest General Overview: Mark Skousen made various comments on different topics, some of which were agreeable, while others were debatable. Inflation: Agreed: Different people experience different levels of inflation depending on their basket of goods and services. Disagreed: Inflation is not at a 10% rate, even considering shadow inflation (re...

This week's guest on Wealth Formula Podcast is Mark Skousen. He is the producer of FreedomFest which has become an extremely popular annual gathering every year that deals with not only money but other lifestyle topics as well. What is freedom anyway? To me, It's the ability to choose what you want to do with your life. Indeed, freedom is the ultimate prize in life and can only be achieved through...

This week's guest on Wealth Formula Podcast is Mark Skousen. He is the producer of FreedomFest which has become an extremely popular annual gathering every year that deals with not only money but other lifestyle topics as well. What is freedom anyway? To me, It's the ability to choose what you want to do with your life. Indeed, freedom is the ultimate prize in life and can only be achieved through...

If Buck could restart his life, would he have gone to medical school or straight into finance?

Thoughts on Sunday podcast on internet business investing: Seems like a platform really suited for people with e-commerce expertise I wouldn't know how to evaluate or run an Internet business Investing under a manager who knows what they're doing might make sense, but we'd need to see the track record I tend to think this is an area where you need to have operating expertise to be successful, even...

After finishing residency and swallowing the purple pill (reading a Kiyosaki book), I found my entrepreneurial self for the first time. I was a like a kid in a candy store looking for any business opportunity I could think of. My initial foray into the entrepreneurial world related to my background—as a surgeon. I started with medical businesses. I say businesses here to make the distinction that...

Market Updates: Economic data since last week's update: Core PCE Price Index rose 0.2% in April, in line with expectations Job openings decreased in April, indicating a cooling labor market Equity markets have been a bit volatile recently, down a couple of percentage points Ongoing volatility is expected as we move through the summer and elections However, the economic and inflation backdrop shoul...

This week's episode on Wealth Formula Podcast is a primer on asset protection. One of the things that I learned a few years back is that asset protection and estate planning are not one and the same. Asset protection is simply protection against creditors. An offshore trust in the Cook Islands, for example, is a rock solid way to protect your assets but it is not an estate planning vehicle. Since...

Buck shares the similar path that almost every successful entrepreneur he knows took.

The upcoming wealth transfer from Baby Boomers to younger generations is a significant and unprecedented event in history, often referred to as the "Great Wealth Transfer." Research indicates that about half of this $100 trillion transfer will go to Gen X, with the other half going to Millennials and Gen Z. This generational shift is interesting, as Gen X has been described as less altruistic, pre...

The Baby Boomer generation (born 1946-1964) was historically the largest, peaking at around 78.8 million in 1999 when they were in their prime working years. However, the current Baby Boomer population in the U.S. as of 2019 is estimated to be 71.6 million, having declined due to mortality exceeding births as this generation ages. The Millennial generation (born 1981-1996) has now surpassed the Ba...

Buck Joffrey is joined by Rod Zabriskie and colleagues of Wealth Formula Banking to discuss this powerful financial tool that leverages your savings to invest the same money at two places at the same time.

Takeaways Tax policies can have a significant impact on businesses and individuals, and it's important to plan and adapt accordingly. The depletion of social security funds is a concern, and solutions need to be implemented to address this issue. The stock market has been performing well, with the Dow Jones hitting all-time highs and the S&P and NASDAQ showing significant gains. Diversification is...

Tom Wheelwright, my friend and author of Tax-Free Wealth, describes the US tax code simply as a series of government-sponsored incentives. As someone who hates paying taxes, this fact has made me extraordinarily patriotic. The problem is, that sometimes incentives backfire. Case in point—during the British Raj rule in India, there was a proliferation of venomous cobras in Delhi. To deal with this...

My key takeaway from our guest (Ryan Bourne from the Cato Institute) on this week's episode is that policy mistakes that adversely impact the free markets happen for a variety of reasons: Misread of data Poor use of policy tools Political motivation National Security interests Whatever the reason, the consequences of policy mistakes are real for investors. For example, the FED let inflation run to...

I have frequently described myself as most aligned with libertarian thought when it comes to my own politics. In terms of the economy, libertarians believe in the concept of a free market. Libertarians argue that a truly free market fosters prosperity, innovation, and individual liberty. But that doesn't really describe the American economy, does it? Over the years, the American economy has seen a...

Regarding the recent Podcast: US debt fears overblown US debt is high, but not unsustainably so (compared to global economies) A more relevant concern may be focused on the appetite or ability of investors to buy the quantum of debt being issued by the US government. Foreign investment in US debt has declined China and other central banks have been buying gold US treasury auctions are historically...

Is it me or is no one talking about high U.S. debt levels anymore? Conventional wisdom has always been that high debt levels lead to inflation and the destruction of currencies, and money printing conjured up images of wheelbarrows full of worthless bills and economies in freefall. Then one day, the political party that used to care about fiscal responsibility stopped caring and now no one talks a...

I have been asked by many to give my opinion on where the economy is headed and what to do. I have been reluctant to do so because I am not an economist and I do not want to give investment advice. However, I do think I owe it to you to let you know where my head is and what I am doing based on these thoughts. Last week and this week's podcast have convinced me that rates are going to fall signifi...

Even really smart people are wrong on a regular basis. I see this all the time in health and longevity-related issues on my other podcast, Sapio with Buck Joffrey. In case you are wondering…yes, I have become one of those middle-aged California guys trying to stay young at all costs. Not easy. But, I have to admit, the nerdy physician scientist type in me is having lots of fun with the science and...