This week, Buck and Zulfe discuss various topics related to wealth and finance. They start by talking about the mindset of the wealthy and the common denominators among successful people. They also discuss recent political events and their potential impact on the market. They then delve into the current state of interest rates and how […] The post 447: News of the Week 07/24/24 appeared first on Wealth Formula.

The idea that individuals gravitate towards their perceived financial worth can be observed in various real-world scenarios. Consider the case of lottery winners. Research has shown that a significant percentage of lottery winners eventually revert to their pre-lottery financial status within a few years.  Despite the sudden influx of wealth, these individuals often lack the […] The post 446: The Wealth Thermostat appeared first on Wealth Formula.

Buck recounts the time he met his hero through manifestation. The post How I Met Robert Kiyosaki appeared first on Wealth Formula.

This week’s episode explores the world of artificial intelligence as it relates to stock trading. While I’m not a stock trader, I find the use of AI in various aspects of finance fascinating. But before we do that, let’s take a step back for a moment and realize that sometimes you don’t need artificial intelligence […] The post 445: Using AI to Maximize Investment Gains? appeared first on Wealth Formula.

How do you measure your professional success? The post True Measures of Success appeared first on Wealth Formula.

Buck and Zulfe discuss the importance of teaching personal finance to children and share their experiences with their own kids. They emphasize the need to go beyond basic financial literacy and teach kids about debt, investing, and building wealth. They also discuss the power of compounding and the different ways to compound wealth. The conversation […] The post 444: News of the Week 07/10/24 appeared first on Wealth Formula.

My dad is a wise man. Like many teenagers, I didn’t always think he was. Growing up, he didn’t say much. He wasn’t the kind of dad who was keen to talk to me much about life. But when he did, I realized decades later, that he was usually right. I remember my dad buying […] The post 443: Teaching Personal Finance to Your Kids appeared first on Wealth Formula.

The first step to stop trading time for money and start building wealth is to figure out how to pay less taxes. Here are two real estate strategies to save on taxes for W-2 employees. The post Tax-Saving Strategies for High W-2 Earners appeared first on Wealth Formula.

What do you do when you’re not happy with the way things are? That’s a question I have been asking myself a lot lately. In my case, I’m talking about life outside of business and real estate. You see, I’ve been divorced for a few years now and I have still not really rebuilt my […] The post 442: Lane Kawaoka on Real Estate and Life appeared first on Wealth Formula.

Does it really? The post Does Money Buy You Happiness? appeared first on Wealth Formula.

In this weekly update, Buck and Zulfe discuss 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 […] The post 441: News of the Week 06/26/24 appeared first on Wealth Formula.

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 […] The post 440: What You Need to Know About Liability Insurance appeared first on Wealth Formula.

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 […] The post 438: Mark Skousen on Freedom and the Economy appeared first on Wealth Formula.

Thoughts on Sunday podcast on internet business investing: Latest on the economy and markets: New product to discuss: Mutual Funds versus ETF (Exchange Traded Funds) The post 437: News of the Week 06/12/24 appeared first on Wealth Formula.

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 […] The post 436: Should You Buy an Online Business? appeared first on Wealth Formula.

The post The #1 Trait Every Successful Entrepreneur Needs to Master appeared first on Wealth Formula.

Buck shares the similar path that almost every successful entrepreneur he knows took. The post How Most Entrepreneurs Get Rich appeared first on Wealth Formula.

Market Updates: Investment Topic: Private Credit Funds The post 435: News of the Week 06/05/24 appeared first on Wealth Formula.

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 […] The post 434: Another Perspective on Asset Protection appeared first on Wealth Formula.

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 […] The post 433: News of the Week 05/29/24 appeared first on Wealth Formula.

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 […] The post 432: Wealth Transfer to Gen Z: A Generation that Thinks Differently appeared first on Wealth Formula.

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. The post 431: Wealth Formula Banking Webinar Replay appeared first on Wealth Formula.

Takeaways The post 430: Velerity Wealth Update 05/22/24 appeared first on Wealth Formula.

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 […] The post 429: Taxocracy appeared first on Wealth Formula.

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 dataPoor use of policy toolsPolitical motivationNational Security interests Whatever the reason, the consequences of policy mistakes are real for investors.  For example, […] The post 428: Velerity Wealth Update 5/15/24 appeared first on Wealth Formula.

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? […] The post 427: A Libertarian Perspective on the Market Economy appeared first on Wealth Formula.

Regarding the recent Podcast: 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. As investors how do we position our investment portfolios for risks related to spiraling and unsustainable debt levels by our government: Current market trends The post 426: Velerity Wealth Update 5/8/24 appeared first on Wealth Formula.

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 […] The post 425: The US Government Ponzi scheme? appeared first on Wealth Formula.

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 […] The post 424: Richard Duncan: U.S. Strong China in Trouble appeared first on Wealth Formula.

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 […] The post 423: Campbell Harvey Says the Fed is WRONG on Inflation and Interest Rates appeared first on Wealth Formula.

The notion of moving wealth away from Wall Street into the hands of small private operators sounds great. However, it’s important to acknowledge some of the challenges of navigating these waters; challenges that many have witnessed first-hand in the podcast ecosystem over the past two years. First and foremost, let’s talk about vetting. Investing is […] The post 422: Avoiding Ponzi Schemes and Bad Actors appeared first on Wealth Formula.

As soon as I finished training, I opened up a cosmetic surgery business. When I say business, I mean a business not practice. From day one, it was my intention to create a brand that I could hand off or sell someday rather than to create a job for myself. I was also focused on […] The post 421: Turn Your Empty Space into a Self-Storage Business appeared first on Wealth Formula.

The cost of real estate transactions affects everyone regardless of whether you invest in real estate or not. Why? Because the cost of the transaction will ultimately be included in the price of the real estate. One of the biggest costs in a real estate transaction is the commission paid by the seller. In the […] The post 420: Realtors Make Legal Settlement: Changes Made to What YOU Pay! appeared first on Wealth Formula.

Last week I sent an update on the WF Velocity ATM Fund which currently has a live tranche. The email I sent, for reference, is below. The email prompted a number of questions that I answered and also thought it would be useful for my partner, Daryl Heller, who is also the majority owner of the […] The post 419: The Ins and Outs of ATM Investing appeared first on Wealth Formula.

In the long run, math is pretty much always right. That’s why insurance companies are so profitable. They make predictions using the law of big numbers. Math can predict pretty much anything. Even Sports! I just re-watched the movie Moneyball about how the Oakland A’s made an improbable run in major league baseball in 2002 […] The post 418: Using Math to Your Advantage appeared first on Wealth Formula.

I feel like I am going through another major transition in my life. I turned 50 last September—a fact that I deliberately chose not to publicize.  I hate to admit it, but much of my behavior is stereotypical divorced midlife crisis stuff. I got a Ferrari, I’ve been working out incessantly and…I’ve been considering adding […] The post 417: Market Update from a Former Sovereign Wealth Fund Manager appeared first on Wealth Formula.

In the latest surge of technological evolution, one titan stands out, reshaping our landscape with the silent swiftness of a revolution: Artificial Intelligence, or AI. It’s a term that sparks a spectrum of emotions, from exhilaration at the dawn of a new era to trepidation about the unknowns it brings along.  As we stand on […] The post 416: Artificial Intelligence: The Mother of All Technologies appeared first on Wealth Formula.

“I’m from the government and I’m here to help.” Ronald Reagan described those as the most dangerous words in the English language. I generally agree with the Gipper who I have fond memories of extending back to the 1980 presidential election that I watched with interest as a kindergartener. When the government gets too big, […] The post 415: Tax and Return: Judge Glock appeared first on Wealth Formula.

When I was fresh out of surgical residency and started to make some money, I started looking for advice on what to do with it.  One of the questions I had was about life insurance. I was a newlywed and had a baby on the way (now she’s in high school by the way). So, […] The post 414: The Safest Double Digit Returning Investment in History? appeared first on Wealth Formula.

Retirement means “ceasing to work”. In my case, retirement will describe me when I’ve died. I understand retiring from a particular activity. Like how I retired from the practice of surgery about eight years ago. But global retirement sounds dire. It is like admitting that you are of no real value to the world anymore. […] The post 413: Social Security Scams and “Retirement” Planning appeared first on Wealth Formula.

The two most powerful motivations for behavior are fear and greed. If you haven’t thought about that before paying attention to the kinds of messaging you hear especially in the alternative asset podcast ecosystem? At the risk of offending gold bugs, how many times have you heard someone who sells precious metals on a podcast […] The post 412: Dual Citizenship: Plan B? appeared first on Wealth Formula.

The challenge with investing is that you can do everything right and still lose. Unfortunately its supposed to be that way otherwise everyone would take the biggest bets possible all the time and always win. That’s just not reality. In good times, it is very hard to anticipate what could happen if the unexpected occurs. […] The post 411: Heads I Win Tales You Lose: The U.S. Banking System appeared first on Wealth Formula.

My social life sucks. I moved to Montecito in 2017 from Chicago a married man with 3 children. When we got here, I didn’t know anyone.  Luckily, I had my family and was plenty entertained by my three little girls. My now ex-wife also served as social coordinator to make sure we had things to […] The post 410: Is Ray Dalio Really Who He Says He Is? appeared first on Wealth Formula.

As you may know, I have three daughters aged 14,11 and 8. The oldest, Camilla, is now in high school. For those of you who have been listening for me for a while, yes, that was the little girl who did an introduction for episode 100. We are all getting older by the minute. Anyway, […] The post 409: You Will Own Nothing and You Will Like It: Carol Roth appeared first on Wealth Formula.

For those of you who have participated in our self-storage offerings in the past with Reliant Real Estate, you know that you can make a lot of money in this space. One of our deals, while not planned this way, nearly doubled investor equity in less than a year. Those kinds of returns are sexy […] The post 408: Boring is Good: The Case for Self Storage appeared first on Wealth Formula.

Wealth Formula Nation, Happy New Year! I have a feeling that 2024 is going to be a good year for us. I think we are going to pick up quality assets at a discount like it’s 2012 and liquidity will come back to the real estate markets. I’m also eager to develop our own investor […] The post 407: New Year, New Business? appeared first on Wealth Formula.

When I first started podcasting a decade ago, I was very anti-Wall Street. But what does that even mean? I guess I hadn’t really contemplated that. My show started not long after the financial meltdown of 2008-2009. For many of us, the greed that was unveiled during that period was eye-opening as we saw major […] The post 406: Wealth Without Wall Street appeared first on Wealth Formula.

During college, I spent a summer working in a laboratory at the University of Chicago where my biochemistry mentor did his PhD. The lab studied prostate cancer and was the legacy of Charlie Huggins, a surgeon who won the Nobel prize for discovering the testosterone dependence of most prostate cancers. The guy who took over […] The post 405: Another Perspective with the Cash Flow Ninja appeared first on Wealth Formula.

In this bonus episode of Wealth Formula Podcast, Jorge Newberry shares with us some background on what’s been happening with AHP as well as his perspective on real estate and the debt market. The post 404: An Update From AHP Servicing With Jorge Newberry appeared first on Wealth Formula.

You know what drives me crazy? Politicians talking about how rich Americans need to start paying their “fair share”. First of all, they aren’t really taking about the rich. They are talking about you—the high paid professional. To be clear, if you are making $400K-$800K per year as a W2 wager earner, you’re doing well […] The post 403: The Tax Case in the Supreme Court That You Must Know About appeared first on Wealth Formula.

As the end of the year approaches, many of us are thinking about ways to mitigate our tax liability for 2023. Unfortunately, this year there is not a whole lot in terms of options. The IRS has clamped down on syndicated conservation easements and anything resembling it. If you are being talked into something like […] The post 402: Investing with Benefits: Real Stories from Wealth Formula Nation appeared first on Wealth Formula.

When I moved to Montecito a few years ago, I was amazed at how many people didn’t seem to work. To be clear, we don’t have a homeless problem out here. We just have a lot of people who own businesses. And it’s not quite true that they don’t work. They just don’t have regular […] The post 400: Trying Not to Run Out of Gas in Your Tesla appeared first on Wealth Formula.

It’s NFL season and I’m still glued to the TV despite my team’s rough start and the fact that we lost our starting quarterback for the year. In case you don’t know, my team is the Minnesota Vikings and our starting quarterback was Kirk Cousins who just went down with a brutal Achilles tendon tear. […] The post 399: Tax Mitigation Strategies in Real Estate appeared first on Wealth Formula.

The world of real estate is kind of a cult. Members of this cult tend to think that pretty much anything outside of real estate is just a waste of money. I used to subscribe to this religion. And, for the most part, I still kind of do. My portfolio is largely real estate and […] The post 398: There’s More to Alts than Real Estate appeared first on Wealth Formula.

No one getting married thinks that they will ever get divorced. I can tell you that from personal experience. Yet over half of American marriages end up in divorce. I was lucky in that I had an amicable break-up. Most of the divorces I’ve seen in the past few years have been ugly. I have two friends finally get […] The post 397: Prenups and Postnups: Marital Finance 101 appeared first on Wealth Formula.

The financial meltdown of 2008-2009 feels like ancient history. And like tragedies that happened long ago, it feel more historical and less emotional.  I remember going to Pompeii several years ago and seeing people turned to stone from Mount Vesuvius erupting. It must have been horrific. But time has made it more of a museum […] The post 396: Preparing for 2010 appeared first on Wealth Formula.

I’m not a doom and gloom podcaster as a general rule. There are plenty of those out there predicting the zombie apocalypse. However, I have to say that I’m pretty sure I’ve been seeing some questionable zombiesque characters running around town lately. It has occurred to me, however, that most people are not seeing what […] The post 395: Tax Free Wealth and the Zombie Apocalypse appeared first on Wealth Formula.

My portfolio is not what most would call diversified. I am about 70-80 percent real estate, 10-15 percent permanent life insurance and about 10-15 percent higher risk stuff. My only stock exposure is only high-risk stuff like mining companies on the Toronto Stock Exchange. To be clear, I am not advocating for this approach. That’s […] The post 394: Beyond Real Estate: How to Cash Flow with Stocks appeared first on Wealth Formula.

The post 393:Economic Impact of Emerging Technologies appeared first on Wealth Formula.

The post 392: Back to School: Tax Mitigation appeared first on Wealth Formula.

Last week I did a back-to-school episode for you on asymmetric risk. I told you that my primary asymmetric risk related investments are in cryptocurrency. As a reminder, asymmetric risk investing means you throw in some money that, if you lose it, isn’t going to kill you. But on the other hand, if things go […] The post 391: Hedera/HBAR: My Asymmetric Dream appeared first on Wealth Formula.

The post 390: Back to School: Asymmetric Risk Investing appeared first on Wealth Formula.

So far in our back-to-school series, we have covered asset protection, estate planning and my capital allocation strategy. Wouldn’t it be great if you could hit all these important concepts with a single investment? Well, as it turns out, you sort of can. Let me back up and tell you a story. When I was […] The post 389: Back to School: Maybe This is All You Need? appeared first on Wealth Formula.

The post 388: Back to School: Buck’s Investment Philosophy appeared first on Wealth Formula.

Zulfe Ali is a broker dealer and investment advisor—but not your run-of-the-mill type in this field. He’s been in the middle of the action on Wall Street as a mergers and acquisitions guy for JP Morgan and Bank of America in the 90s and ran a multibillion-dollar sovereign wealth fund for over a decade. I’ve […] The post 387: Lessons from a Sovereign Wealth Fund Manager appeared first on Wealth Formula.

The post 386: Back to School: Estate Planning appeared first on Wealth Formula.

Those of you who have been listening to me for a while know that I am not really a precious metals guy. I know the arguments and I respect them. Gold has held its price over an unprecedented amount of time. An ounce of gold got a guy a nice toga and sandals in Roman […] The post 385: Should you buy Silver? appeared first on Wealth Formula.

I live in Montecito, CA. It’s a small beach town of about 5 thousand people at the southernmost part of Santa Barbara. I moved here from Chicago in 2017 and started living here as a renter. One thing I learned over the years is that whenever I move to a new area, I always end […] The post 384: High Mortgage Rates Does Not Equal Housing Crash appeared first on Wealth Formula.

I don’t know about you but my kids are about to head back to school. In this spirit of that, I thought it might be nice for us to get back to basics as well. For the next few weeks, I will be releasing at least one podcast that involves the basics of personal finance […] The post 383: Back To School: Asset Protection appeared first on Wealth Formula.

I have a medical degree and am a former board-certified surgeon. Yet that is not my identity. My identity is that of an entrepreneur and investor. This is an identify for which I did not go to school. Without trying to sound dramatic, I was born this way. I think it’s a genetic thing. You […] The post 382: Should You Consider Buying a Franchise? appeared first on Wealth Formula.

It turns out that the conversation about getting out of fossil fuels and into green energy is a lot more complicated than just energy. Of course “black gold” has literally fueled our society into its wealthiest state since the beginning of man. No one argues that. But there is a clear movement globally to try […] The post 381: Clean Energy Solves Only Part of the Problem appeared first on Wealth Formula.

It has been a tough year for real investors. Inflation and interest rates have created distress and uncertainty. But let me remind you of a few things. Investing isn’t for the faint-hearted. EVERYONE loses at some point. The idea that you can always win is a fallacy. Of course everyone would agree with that statement […] The post 380: Investing Through the Eyes of a Fighter Pilot appeared first on Wealth Formula.

I was in high school when the Berlin Wall came down. The ensuing decade was really like no other I have experienced in my life. It was the 1990s. There was no more cold war. Decades of fear of nuclear annihilation vanished into thin air. And 9/11 had not yet happened so we did not […] The post 379: Do Human Cycles Drive Economic Cycles? appeared first on Wealth Formula.

The post Bonus Episode: Breakthrough in Early Cancer Detection? appeared first on Wealth Formula.

Why is financial education not part of our school system? To understand that, you have to understand where our school system came from. Our educational system started during the industrial revolution and was influenced heavily by the Prussian system. What do you think of when you hear “industrial revolution?” I think of factories and conveyor […] The post 378: Forcing Schools to Teach Financial Literacy appeared first on Wealth Formula.

This week’s podcast is about energy. But before we do that I want to comment on a few things about our investing ecosystem. A decade ago when I first started playing around with this podcast concept I was very excited about a whole new world of investing that I was learning about. Why invest in […] The post 377: Why is Oil Still Expensive Despite Clean Energy? appeared first on Wealth Formula.

What a crazy ride it’s been. Despite Covid, plunging interest rates actually made home prices explode to new highs. In my own neighborhood, housing prices doubled. Then it started to look like the housing bubble had started to burst. There were mortgage companies in distress and laid off thousands. Economists warned the next housing recession […] The post 376: What Big Data Has to Say about Home Prices appeared first on Wealth Formula.

Last week I called the economy schizophrenic. Actually, that’s an insult to schizophrenics. This is simply a dysfunctional economy. It’s the product of a good idea called capitalism with excessive intervention—namely by the Federal Reserve Bank of the United States. Today’s economy reminds me a little bit of the movie, Jurassic Park. Altering the natural […] The post 375: Stalking Economists for Answers: Richard Duncan appeared first on Wealth Formula.

I am annoyed with this economy. That doesn’t seem like a very professional thing to say but I don’t know how else to express my feelings any better. You see, nothing really makes sense. Inflation has been as high as it has been since the 1980s. At first, the Fed didn’t think it was real […] The post 374: Trying to Understand a Schizophrenic Economy appeared first on Wealth Formula.

There is a significant amount of distress in the investor world right now. With inflation and interest rates climbing quickly, it has left the equity and real estate markets in shambles. We will get through this. And while I encourage you to fight against the fear of investing so that you can take advantage of […] The post 373: The Investment that Keeps on Giving (Even When You Die) appeared first on Wealth Formula.

With rising interest rates, I keep getting questions about whether value-add real estate is dead.  The answer to that question is a firm no. Remember, people have made money and lost money in all kinds of interest rate and cap rate environments. The interest rates we have right now aren’t even close to the highest […] The post 372: What You Need to Know About AI appeared first on Wealth Formula.

This week’s Wealth Formula Podcast features me trying to answer your questions. Make sure to tune in as I try to answer questions about interest rates, the state of value add real estate and Central Bank Distributed Coins! Listen HERE The post 371: Ask Buck June 2023 appeared first on Wealth Formula.

Joe Biden says the economy is “strong as hell” but he’s wrong. Interest rates increasing at the steepest slope in history over the last year have caused a serious problem for the economy and hell is about to break loose. I’m not the zombie apocalypse type but I have seen some shady-looking dead people walking […] The post 370: Psychological Components to Investing and Retirement When the Economy is Screwed appeared first on Wealth Formula.

I was a surgical resident for years. I started out as a neurosurgeon, moved over to Otolaryngology Head and Neck Surgery then ended up in cosmetics. During my training, it didn’t matter how much I worked. I would always get the same paycheck. I wasn’t lazy but I certainly didn’t enjoy working for what amounted […] The post 369: Big Government Craziness in a Troubled Economy appeared first on Wealth Formula.

When I was a kid, my dad deposited $1,000 for me and my two siblings at a local bank. I’m not exactly sure why he did that, but what I do recall is that my older siblings showed me that I could go into the bank every couple of months and ask for “interest.” I […] The post 368: Your Bank Probably Owes You Money appeared first on Wealth Formula.

When new listeners of Wealth Formula Podcast tell me they started from the beginning to catch up, I cringe a little bit. It’s not that the original material was bad. For me, it’s just like looking at pictures of guys in the 80s with feathered hair (Think Dukes of Hazard). Or guys with perms.  At […] The post 367: Is Buying Gold a Good Idea or Not? appeared first on Wealth Formula.

I used to be a guy who prided myself on being a minimalist. Despite doing pretty well for myself financially, I drove the same 2007 Prius I bought the day after residency until just a couple of years ago. My clothes often didn’t fit and I never shaved. Oh yeah—I was about 25 pounds heavier […] The post 366: Book Club: Die with Zero appeared first on Wealth Formula.

Government is a funny thing. It is an organization that makes and enforces rules and regulations. The more rules and regulations it makes, the bigger it gets. It’s a monster. Government is also a significant employer that doesn’t seem to care much about being lean and profitable. Instead, it thrives on making itself even bigger […] The post 365: Crisis=Opportunity for Governments to Seize Control appeared first on Wealth Formula.

You know the old saying coined by Ben Franklin, “Nothing is certain except death and taxes”. Longevity science might eventually prove that death is not inevitable but for the time being it is.  As for taxes? Well, I’ve spent a lot of episodes talking about tax mitigation while you live and I know for a […] The post 364: Death Without Taxes appeared first on Wealth Formula.

I have been at this alternate investment game since I finished surgical residency in 2009. Luckily, since then my wins have significantly outnumbered my losses and I have made a lot more money than I ever did as a physician. But It hasn’t always been smooth sailing. The first apartment building I bought for myself […] The post 363: Know, Like and Trust is Not Enough appeared first on Wealth Formula.

I am going to keep this brief because I have a cold and I don’t want to subject you to Sudafed altered commentary. This week’s Wealth Formula Podcast features an interview with Jay Parsons who is Chief Economist at RealPage. He is an authority on topics affecting multifamily apartments which, of course, is of significant […] The post 362: Multifamily Real Estate is STILL the Place to Be appeared first on Wealth Formula.

The Fed just raised rates another 25 basis points despite global banking instability and investor angst. This wasn’t a surprise. Curtailing inflation continues to be their primary motivation. How long will the Fed continue to raise rates? Well, inflation has to be clearly under control and/or there must be something else that happens that threatens […] The post 361: The Calm Before the Storm with Harry Dent appeared first on Wealth Formula.

Oh what a mess this economy is! Helicopter money during Covid and supply chain issues brought on inflation like we haven’t seen in decades. To respond to this self-inflicted predicament, the Federal Reserve began raising interest rates at an alarming pace. Never have we seen interest rates rise at this steep of a slope—even in […] The post 360: Real Estate Update with Jorge Newbery appeared first on Wealth Formula.

If you want to build wealth quickly, you have to learn as much about tax mitigation as you can. Most of these mitigation opportunities are in the world of real estate and business. However, there are creative (and legal) ways to mitigate taxes for W2 employees as well—just not that many. And sometimes it’s not […] The post 359: A Tax Update with Tom Wheelwright appeared first on Wealth Formula.

Why is decentralized finance advantageous? Let’s ask artificial intelligence. As you may recall from last week’s episode, ChatGPT is widely accessible to anyone right now. Here’s the explanation on the value of decentralized finance from the ChatGPT software itself: “Decentralized finance, or DeFi, is advantageous for several reasons: Overall, these advantages make DeFi a compelling […] The post 358: The Personalization of Personal Finance appeared first on Wealth Formula.

Ok, I know you keep hearing about how the world is going to look radically different soon. I have too.  But what is that radical change and when is it going to happen? I’m no expert in technology but it is clear that the radical changes we are expecting are coming from two emerging technologies: […] The post 357: Is Everything About to Change? appeared first on Wealth Formula.

The two most common mistakes I’ve seen people make in personal finance is to not think about asset protection and to not think about estate planning. Not thinking about estate planning is sort of understandable. Death is a topic that many try to avoid. Some are even superstitious in that if they set up an […] The post 356: Getting Your Assets in Gear with Garrett Sutton appeared first on Wealth Formula.

When you are in the alternate investment space like me, everyone assumes you are a gold guy. I used to be. The idea of gold holding its value over time is very real. An ounce of gold in the times Christ would buy you a nice toga and sandals. Now, an ounce of gold will […] The post 355: Should You Buy Gold? appeared first on Wealth Formula.

I’ve never spent much time on the concept of short-term rentals (Vacation Rentals) before because it didn’t sound particularly appealing to me. But after interviewing Tim Hubbard for this week’s podcast, I may have changed my mind. Here’s the deal. Unless you are a limited partner in a syndication, there is no such thing as […] The post 354: Short Term Rentals=Hidden Tax Gems appeared first on Wealth Formula.

Digital currency is not dead. But it was wounded pretty badly over the past few months. Paradoxically, the undoing of the decentralized world happened from centralized companies and individuals like Do Kwon of Terra Luna and Sam Bankman-Fried of FTX. Ultimately, the greed of both these individuals and the flawed platforms that they ran resulted […] The post 353: Updates from the Wild West of Crypto appeared first on Wealth Formula.

What is all this wealth stuff for anyway? I have spent the last 15 years trying to accumulate wealth. It wasn’t until about two years ago that I decided to start spending it. Why? Well, there were some major changes in my life and it made me think about mortality. Don’t worry…my health is great. […] The post 352: You Can Live A LOT Longer Than You Think appeared first on Wealth Formula.

If you read business or entrepreneurial books you are probably sick of people telling you that you have to take risks and get uncomfortable. I get it. But what are you doing to take risks and to get uncomfortable? After all, it’s really the only way to grow in your career or in your life. […] The post 351: Seeking Discomfort in Life and Business appeared first on Wealth Formula.

We are in a unique period of time with the economy. We know something is going to declare itself soon enough but have no idea when or what it will look like. This time it’s not just the contrarians. Everyone is predicting some kind of trouble in the coming months ranging from a mild recession (Biden) to […] The post 350: Reagan’s Budget Director Forecasts Rocky Roads Ahead appeared first on Wealth Formula.

The new year makes me think about how things keep changing so rapidly (including my age). For those of us who went to high school in the era of pay phones, it is a truly remarkable trajectory and it makes me wonder what the next few decades will unfold. There are so many technological advances […] The post 349: The Next BIG Technology appeared first on Wealth Formula.

I hope you all had a wonderful Christmas! As we head into the last week of the year there is much to reflect upon. The last few years have been absolutely bonkers. If someone had told me in mid-2019 that a global pandemic would happen, and the world would be practically paralyzed for the next […] The post 348: Jim Rickards: Inflation, Interest Rates and the Supply Chain appeared first on Wealth Formula.

As you know, we have an Automatic Teller Machine offering and you can take a look at it at WFVelocity.com I’ve personally been invested for 6-7 years without issue. That’s not surprising as the use of cash continues to increase in the US. The biggest risk to investing in this type of asset is obvious—the end […] The post 347: China is Cashless…Are We Next? appeared first on Wealth Formula.

The cryptocurrency markets have been crushed and don’t be surprised if they go even lower once the full extent of the FTX meltdown is realized. However, it’s clear to me that this in no way is the end of cryptocurrency. Believe me, I’ve been around crypto long enough to have seen it declared dead several […] The post 346: What’s the Big Deal about DeFi? appeared first on Wealth Formula.

It’s cold outside…even in Santa Barbara. The real estate markets are especially frozen now and will continue to be at least for the next couple of months into the new year. Why is this happening? Real estate, more than any other investment, is highly dependent on interest rates. Right now, there is simply too much […] The post 345: Should You Consider Buying Franchises in this Economy? appeared first on Wealth Formula.

Happy Holidays everyone. I’m very thankful for you Wealth Formula Nation! It is a great pleasure for me to serve you as clarifier-in-chief at Wealth Formula. Listen in to this week’s edition of Ask Buck. We talk about real estate depreciation issues, asset protection and more! Don’t miss it! The post 344: Ask Buck: 11/27/22 appeared first on Wealth Formula.

It’s been a while but this week’s episode of Wealth Formula Podcast is the latest “Ask Buck” episode. As you know, most of the time I interview other people so I don’t get a chance to talk to you directly. These episodes are great for learning. In fact, go back and listen to the last […] The post 343: Ask Buck: November 2022 appeared first on Wealth Formula.

Warren Buffet talks about being greedy when others are fearful. I think it’s fair to say that there is a great deal of fear in the financial system right now with interest rates climbing as quickly as they are. Eventually, this will lead to distress in all financial markets. The stock market is already down—especially […] The post 342: Blockchain is Not Dead appeared first on Wealth Formula.

As we get closer to the end of the year, I know a number of you are trying to figure out how to deploy capital. We will have some opportunities that are not real estate oriented.  I also believe that it is a surprisingly good time to consider various life insurance strategies that we have […] The post 341: Why Now Is The Perfect Time For High Cash Value Life Insurance Strategies appeared first on Wealth Formula.

What makes for a highly successful entrepreneur or investor? It is the appetite for calculated risk. As Bruce Arians, coach of the Tampa Bay Buccaneers famously says, “No risk it, no biscuit”. In entrepreneurship this might be more obvious. You probably know entrepreneurs who took risks by leaving their day job and pursuing a business […] The post 340: No Risk It, No Biscuit appeared first on Wealth Formula.

The last 15 years have been a game of chicken between the Federal Reserve and the financial markets. Think about the old movies where the kids would speed in their cars towards each other until someone decided to quickly turn out of the way and avoid collision and certain death. Similarly, the financial markets and […] The post 339: The Great Distortion: Dr. Nomi Prins appeared first on Wealth Formula.

If you made it out to our event last weekend I want to thank your for taking the time to prioritize our meetup. And if you were there, I’m guessing you were not disappointed. We had a few familiar faces in the morning talking about taxes and asset protection and some great presentations around asset […] The post 338: The Road Less Travelled with Dr. Irene Lambiris appeared first on Wealth Formula.

Boring is Good when it comes to investing. I’ve started hearing others echo that sentiment lately. I’m not sure if I had something to do with it but I’m glad that message is spreading in the podcast ecosystem. A decade ago, I used to be perhaps the busiest cosmetic surgeon in Chicago. I worked hard […] The post 337: Computer Chips are Sexy and Profitable (Well Maybe not Sexy) appeared first on Wealth Formula.

I guess by now you’ve heard—we’ve got some inflation problems in the United States and globally and Central Banks are going to continue to ratchet up interest rates in attempts to reverse the tide. But wait a second. Why inflation now? Didn’t we print billions of dollars over the last 15 years or so? Why […] The post 336: We’ve Had High Inflation for YEARS and Didn’t Know it appeared first on Wealth Formula.

Have you heard of the Financial Independence, Retire Early (FIRE) movement? The movement is defined by extreme frugality and extreme savings and investments in hopes of retiring early and living on small withdrawals of accumulated funds. The general rule of thumb is to live on only 30 percent of your income and invest the rest. […] The post 335: How to Buy Expensive Toys and Profit! appeared first on Wealth Formula.

First of all, if you have not signed up for the next Wealth Formula Meetup, you should do so NOW. This is going to be a very cool event. We are going to do personal finance talks in the morning like we usually do with lessons on taxes, asset protection and real estate. We are also […] The post 334: Cognitive Bias in Life and Investing appeared first on Wealth Formula.

When I was growing up, the Republican Party stood for small government and free trade. Democrats were apparently on the other side of the table. Maybe it is an incorrect generalization, but one thing is for sure…neither party supports real free trade anymore. Why? Well, I think it stems from an overriding trend towards nationalism. […] The post 333: Congressman James Bacchus on the state of Free Trade and the WTO appeared first on Wealth Formula.

We haven’t talked about cryptocurrency much lately. Admittedly, I am like everyone else who gets excited when the markets are going sky-high but quickly loses interest when markets are struggling. However, In times like these, regardless of asset class, it is critically important to stay rational. Let’s take bitcoin as an example. As I write […] The post 332: How to Use Tax Law to Benefit from the Cryptocurrency Bear market appeared first on Wealth Formula.

It’s time for another round of “Ask Buck”. This week’s episode includes questions on taxes, multifamily real estate investments and the Wealth Accelerator. Listen HERE! The post 331: Ask Buck Summer 2022 Part 2 appeared first on Wealth Formula.

It’s been a while but this week’s episode of Wealth Formula Podcast is the latest “Ask Buck” episode. As you know, most of the time I interview other people so I don’t get a chance to talk to you directly. These episodes are great for learning. In fact, go back and listen to the last […] The post 330: Ask Buck Summer 2022 appeared first on Wealth Formula.

Investing is hard enough without worrying about all the crooked stuff going on out there. When you add that to the picture, it’s a miracle that most of us have actually made money investing. And if you think the nefarious activity is limited to the private space, you would be mistaken. Big money can manipulate […] The post 329: The Untold Story of the World’s Biggest Con appeared first on Wealth Formula.

This week’s episode of Wealth Formula Podcast is about emotional intelligence. Why would we talk about such things on a personal finance show? Well, let’s define emotional intelligence for a moment. We all have emotions. If you want to see emotions in their rawest form, look at a toddler. One minute you might have an […] The post 328: The Emotionally Intelligent Investor appeared first on Wealth Formula.

You’ve probably noticed that my emails have been pretty short the last few weeks. I’ve been in Europe so I’m letting the podcast speak for themselves for the most part. This week we go back to fundamentals. There’s a reason why real estate is the foundation of the Wealth Formula personal finance ethos. There is […] The post 327: Real Estate and Taxes: What You Need to Know! appeared first on Wealth Formula.

When I think about all of what has happened to our economy over the past two decades, it’s quite astounding. National debt has gone up by about 5x. Interest rates hovered at nearly zero for multiple years and we went through multiple shocks to the system like the 2008 meltdown and Covid. Again—all in the […] The post 326: 200 Years of Financial Panics appeared first on Wealth Formula.

There is a fine line between being a “quitter“ and a pragmatic individual navigating life. Quitting has a very negative connotation in our culture. It’s un-American and is associated with weakness and lack of grit. In reality however, quitting is often the best thing you can do and the sooner that you do it the […] The post 325: No Pain…Plenty of Gain appeared first on Wealth Formula.

One of the consequences of inflation is increasing wealth disparity. Think about it for a moment. CPI indices only measure a basket of goods and services. But you and I know as investors that inflation helps us out with our investment portfolios as well. Asset inflation is a real thing. If you don’t have the […] The post 324: Are We Running Out of Food? appeared first on Wealth Formula.

When was the happiest time of your life? I mean like inner-happy type happy? For me, it was definitely as a kid. My childhood was by no means all roses, but the little things in life brought me a ton of joy. I remember riding my bike to friends’ houses and knocking on their doors […] The post 323: Bringing Back Wonder to Your Life appeared first on Wealth Formula.

There is a major distinction between economists and investors. While most economists classify themselves with schools of thought such as Keynesian or Austrian, successful investors cannot afford to do so. I just spent a significant amount of time reviewing the work of Saifedean Ammous, the author of The Bitcoin Standard which has really become the […] The post 322: How Playing the Tax Game Can Be Profitable appeared first on Wealth Formula.

Big changes in the world seem to sneak up on you. One day you reflect on the way things used to be and wonder how the heck we got here. Anyone who has kids knows what I mean. My 13-year-old daughter is tall and beautiful and writes songs. I can remember the day she was […] The post 321: Bitcoin Ecosystem and Infinite Fleet appeared first on Wealth Formula.

What makes a great investor? Genetics? Personality type? Luck? Probably all of the above. But one thing I’ve noticed is that all the best investors in the world are very curious people and they tend to read a lot. Apparently Warren Buffett was reading between 800 and 1000 pages per day in the early days […] The post 320: The Soul of a Value Investor appeared first on Wealth Formula.

Should you be investing in real estate now? After all, we have double digit inflation and rising interest rates. Well, let’s start with an even more basic question. Should you be investing in anything right now? What is the alternative? The alternative is to sit on cash while inflation erodes the value of your money […] The post 319: Janet LePage on the State of the Real Estate Market appeared first on Wealth Formula.

Nothing saddens me more than to see my fellow physicians and other highly trained professionals who spend their youth studying hard for the promise of a fulfilling career that will take care of them financially only to realize that they have been sold a false bill of goods. Physicians in particular have gotten really screwed. […] The post 318: The Wealth Accelerator appeared first on Wealth Formula.

No matter how open-minded you think you are, you are always going to approach things with a certain bias. And it only takes being completely wrong about something that you would have bet your life on to realize that. My perspective on Covid-19 in the early days is a good example. Now I know there […] The post 317: The Financial Cold War with China appeared first on Wealth Formula.

When times get tough, it is always easier to have a scapegoat. After all, it is easier to blame an enemy than an unfortunate circumstance. The enemy can be punished and held responsible. Circumstances cannot. The most extreme example of this in modern history is the vilification of Jews during World War 2. Reparations for […] The post 316: The War Against the Wealthy appeared first on Wealth Formula.

The post Bous Episode: How to Become an Accredited Investor without the Money appeared first on Wealth Formula.

I don’t know about you but sometimes I have so many different things cycling through my brain at the same time but it’s hard to keep track of any one of them. I’m not talking about just work or personal finance related issues. I’m also talking about trying to keep my kids’ schedules straight. I’ve […] The post 315: The Monkey Mind appeared first on Wealth Formula.

The hardest part about understanding economics is terminology. In reality, economics really just comes down to understanding human behavior based on incentives. Let’s take for example the Cobra Effect. This is a term coined by economist Horst Siebert to describe a time in India under British rule when the local governor was trying to figure out […] The post 314: Is Economics Just Common Sense? appeared first on Wealth Formula.

As I write this email, I’m on my way to Phoenix for our biannual meetup. So…I’ll keep it short.  Coming up Covid and in the midst of a war in Europe we are experiencing unusual inflation forcing the Fed’s hand at raising interest rates.  Over the last several weeks, we have had several economists and […] The post 313: Is There Such Thing As Economic Truth Anymore? appeared first on Wealth Formula.

The most common question I get from investors these days is how increasing interest rates will affect the performance of our real estate holdings. There is often concern, for good reason, that as rates go up our net operating income will go down. The good news is that things aren’t that simple. Rate increases don’t […] The post 312: Should Real Estate Investors Be Worried About Inflation? appeared first on Wealth Formula.

I have started a number of small businesses over the past decade. I know that a number of you run your own business or are thinking about some kind of new entrepreneurial endeavor. So, let me tell you about some of the things that I have learned. First, fewer variables make businesses easier to run […] The post 311: Walmart’s Chief Economist on Inflation, War and What it Takes to Scale a Business appeared first on Wealth Formula.

My kids are little. My oldest is 12 and her sisters are 9 and 6. Admittedly, I’ve spent no significant amount of time trying to teach them about money as of yet. If anything, I have taught them a little bit about the burden of taxes by eating half of the cupcakes and ice cream […] The post Bonus Episode: Financial Education for Kids appeared first on Wealth Formula.

You would think from the vilification of capitalists in recent years that we are nothing but a waste of space on earth. “Pay your fair share capitalist pig!” That’s what you hear these days from popular politicians on the left. Of course, in reality, without us, the government would be broke. What makes America great […] The post 310: What’s the Big Deal about Venture Capital? appeared first on Wealth Formula.

Money has taken on many forms throughout history. In the last couple of centuries gold has been the dominant form of money recognized globally. In 1912 J.P. Morgan himself said, “Money is gold, and nothing else”. Yet the relevance of gold has really come into question since Nixon took the dollar off the gold standard […] The post 309: A Money Revolution? appeared first on Wealth Formula.

I write this on the “Ides of March” one day before the Federal Reserve meets to discuss the economy and its plans for the near future. The 900-pound gorilla in the room is inflation although the war in Ukraine may be a mitigating factor for the impending hawkish moves anticipated. By the time this post […] The post 308: Interest Rates, Inflation and Cryptocurrency! appeared first on Wealth Formula.

Americans have always enjoyed the advantage of geographic isolation from much of the Western World. It has allowed us, in many ways, to look at many of the world’s conflicts from a relatively disinterested distance. Who knows if we would have gotten involved at all in World War 2 if not for the bombing of […] The post 307: What does the War in Ukraine Mean for You? appeared first on Wealth Formula.

In June of 2008, I graduated from my surgical residency program, got married and discovered Robert Kiyosaki. 14 years later, I’m no longer a practicing surgeon nor am I married anymore. However, the impact of Robert’s books defined the course of my life. It’s really extraordinary when I think about how a single book that […] The post 306: Robert Kiyosaki on Vietnam and the Politics of Money appeared first on Wealth Formula.

Distributed ledger technology is revolutionary and creates some problems for the old guard—specifically banks and the traditional financial markets. The young guns creating all of this technology are really shaking things up. But you can bet that the traditional guys who have been making millions of dollars off the old system aren’t giving up easily. […] The post 305: What is Decentralized Finance? appeared first on Wealth Formula.

Disruptive technology always creates casualties. I still remember a few years ago walking in a city with my oldest daughter who was about five or six at the time. We passed an old phone booth and she asked, “Daddy what’s that?”. Think of all the technological dinosaurs that have been forgotten in your lifetime. Records […] The post 304: Will Crypto Kill the New York Stock Exchange? appeared first on Wealth Formula.

If you were an alien from another planet visiting who got stuck on earth and had to figure out how to get by you would quickly realize that you would need some money. This would probably lead you to a job which would not be difficult given your extraordinary intelligence. In fact, it might land […] The post 303: ALIEN Thinking for Profit appeared first on Wealth Formula.

I still remember listening to the Peter Schiff podcast seven years ago when I lived in Chicago. I was at the tail end of my Austrian Economic phase and so I believed in everything Peter had to say. One day I was sitting there at my computer listening to him make fun of something called bitcoin which […] The post 302: The Next Crypto Revolution? appeared first on Wealth Formula.

People listening to the show for the first time often feel a little overwhelmed by the basic terminology and concepts that we use as the basis of our conversations. We throw words like bonus depreciation and cost segregation analysis around like everyone knows what we are talking about. The Ask Buck shows that we have a great place to […] The post 301: Ask Buck? 1/29/22 appeared first on Wealth Formula.

This week’s show marks the 300th episode of the Wealth Formula Podcast. That means about six years’ worth of shows. Wow! How did that happen? What started out as a little time to speak to myself (I had no listeners) has become a show with well over a million downloads and an extraordinary community. When […] The post Episode 300! ASK BUCK! appeared first on Wealth Formula.

Why is it that the rich get richer? Well, for one thing, they have money to invest. Think of how many people out there live paycheck to paycheck. Meanwhile, people with money like you and me are able to invest our money and get it working for us. Remember the mathematical Wealth Formula? Wealth=Leverage(MassXVelocity) Velocity […] The post 299: The Lords of Easy Money appeared first on Wealth Formula.

Okay—let’s talk about debt. I bet at some point in your life, someone has told you that you need to pay it all off. On TV, you see the likes of Suze Orman and Dave Ramsey telling you that you have to get rid of it before anything else. They aren’t entirely wrong. They are […] The post 298: Is PRIVATE Debt the Real Danger? appeared first on Wealth Formula.

Happy New Year! I don’t know about you, but I am looking forward to another profitable year in the roaring 20s. If you have been investing in real estate for the last several years, you are obviously doing very well. The big question on everyone’s mind seems to be whether or not the market is […] The post 297: Another Look at the Real Estate Market with Jorge Newbery appeared first on Wealth Formula.

Technology is great but the burdens of technology are significant. Think of all your accounts and all your passwords. You may have cryptocurrency and might be trading on cryptic DeFi platforms. What if something happened to you today? How much of your money would be a giant mess to the family you left behind? There’s […] The post 296: Investor Cybersecurity 101 appeared first on Wealth Formula.

Inflation is running at about 6-7 percent right now. That is significant. In fact, we haven’t seen those numbers in about 4 decades. On this week’s show, we will talk to an economist to explain what this means at the macro level and what may potentially be the long-term outcome. I’m not an economist. I am […] The post 295: The 900 Pound Gorilla in the US Economy appeared first on Wealth Formula.

A number of people told me that they really enjoyed last week’s podcast interview with William Green, who spoke about what we can learn from the greatest investors of all time. One line that still haunts me is Sir John Templeton saying that the four most dangerous words for an investor are “This time it’s […] The post 294: Navigating the BOOM/BUST Cycle with Murray Sabrin appeared first on Wealth Formula.

Asset prices are booming. We have more than doubled price per door costs on acquisitions made in some markets just two years ago. That’s just what our investor club has seen in real estate. To look at rising asset prices on steroids, just look to the crypto markets. A guy who works out at the […] The post 293: Lessons Learned from the Greatest Investors in History with William Green! appeared first on Wealth Formula.

When you are trying to figure out how to become more successful in life, don’t try to re-recreate the wheel. Success stories aren’t all the same, but they often rhyme. My first two successful businesses were nothing other than me ripping off other successful business models and giving them a twist of my own. I knew the […] The post 292: Dave Liu on Using Psychology to Hack Life for Success and Wealth appeared first on Wealth Formula.

It’s been 2 years since Covid-19 first became the major global topic. I must admit, if you told me back then that we’d still be wearing masks and living our lives with Covid-19 precautions every day, I would have never believed you. So much about this period in time is extraordinary. It’s hard to really […] The post 291: A Shot to Save the World: The Story Behind the Covid Vaccine! appeared first on Wealth Formula.

At the core of every individual’s subconscious there is a wealth thermostat. What sets the temperature is a combination of nature and nurture. Once it’s set, it’s difficult to change it. But if you know you have a thermostat, it’s a lot easier to change your mindset. What do I mean by this? Well, think […] The post 290: What are the 7 Deadly Economic Sins? appeared first on Wealth Formula.

Last week I did an emergency podcast to make sure everyone is aware of an upcoming change related to the whole life policies we use inside of Wealth Formula Banking. It all revolves around recent changes made to IRC Section 7702, with is the IRS code that dictates how life insurance policies are taxed. Since […] The post HNW Charitable Strategies that are PROFITABLE appeared first on Wealth Formula.

I began talking about cryptocurrency on Wealth Formula Podcast in 2017. Many joined the crypto world after that and have made a significant amount of money. If you are one of those people…you’re welcome! Those who stayed on the sidelines often felt, for good reason, that cryptocurrency was just a big digital fad and that […] The post 289: Is Bitcoin the Next Layer of Money? appeared first on Wealth Formula.

This is a 5 minute update on Wealth Formula Banking changes that are occurring because of current tax legislation. PLEASE LISTEN NOW! The post Urgent Wealth Formula Banking Announcement! appeared first on Wealth Formula.

It’s not easy becoming a physician. You have to be at the top of your class in college to get into medical school. Then medical school itself is a pretty big commitment. Of course, I’m one of those crazies who added 7 years of residency training to my education. But by the time you get […] The post 288: Dennis Gartman: Inflation, the Fed and Trouble Ahead! appeared first on Wealth Formula.

I am a natural entrepreneur. It’s not something I tried to be. I’m just wired this way. School does not teach you to be an entrepreneur. However, there is no doubt that certain subjects parallel my thinking as an entrepreneur. It may surprise you to know that the classes I took that most resemble my […] The post 287: Artificial Intelligence, the Robot Revolution and the New World Order! appeared first on Wealth Formula.

At our Wealth Formula meetup in Dallas a few weeks ago my CPA, Tom Wheelwright, got up on stage and surprised me. Tom is a very smart guy. He wrote one of the books that I consider a “must read” for personal finance called Tax Free Wealth. He is the Michael Jordan of CPA’s. He […] The post 286: Ninja Tax Strategies with Tom Wheelwright! appeared first on Wealth Formula.

Economics is a social science. While science is knowledge and application of existing aspects of the world and applications through physical laws, mathematics and research, social sciences deal with society and human behaviors. Certainly there is plenty of math involved in economics but the math is predictive insofar as the behavior is predicted correctly. That […] The post 285: Chinese Evergrande and the state of the Global Economy! appeared first on Wealth Formula.

“It’s tough to make predictions, especially about the future.” -Yogi Berra The residential real estate market is on fire. No doubt. We are seeing this across the board from single-family homes to massive apartment complexes. I’m not an expert on single-family home values. I don’t understand them as they are not rooted in cap rates […] The post 284: Jorge Newbery on the State of the Real Estate Market! appeared first on Wealth Formula.

Personal finance is personal. However, there is a type of conventional financial wisdom that leads us to believe that there is one right way of doing things.  That becomes very confusing to people…especially in our alternative investment world. After all, financial advisors are the experts, right?  In reality, financial advisors are usually most interested in […] The post 283: Ask Buck 9/25/21 appeared first on Wealth Formula.

When I first read The Cash Flow Quadrant by Robert Kiyosaki (the purple pill), I was fascinated by the concept of using earned income to produce streams of passive income, that would eventually become a great river that would replace ones earned income all together. That concept is what I now call Wealth 1.0. You […] The post 282: The Cash Flow Ninja! appeared first on Wealth Formula.

There is a saying, “People grossly over-estimate what they can accomplish in a year and grossly under-estimate what they can accomplish over five years.” As I write this to you on my 48th birthday (September 8th), I look back on the last 5 years and it’s hard to argue the point. Five years ago, this […] The post 281: Should We Be Buying Hotels Yet? appeared first on Wealth Formula.

As a flaming entrepreneur I had a serious problem when I was a young man: Shiny Object Syndrome. After surgical residency, I had a couple of major business successes. Having never failed in business before, I kept pushing the limits. It wasn’t about the money back then. You see, natural entrepreneurs like me enjoy money—no […] The post 280: Angel Investing and Shiny Objects! appeared first on Wealth Formula.

Henry Ford once said, “Whether you think you can or think you can’t, you’re right”. The older I get, the more I am convinced that he was right! I believe that mindset is the single most important element to success in life—be it financial or otherwise. Mindset is a broad term but the way I […] The post 279: Should You Buy a Franchise? appeared first on Wealth Formula.

Once you realize how much you don’t know, you always feel like you’re playing catch up. At least that’s how I feel when it comes to personal finance. Wealthy families often implement family offices to help keep things straight. Theoretically, that’s a great solution. However, from what I’ve seen, family office structures often leave clients […] The post 278: Asset Protection: Everything You Need to Know! appeared first on Wealth Formula.

Over the last three weeks, you have heard actual members of our Wealth Formula Community talk about their financial journeys. A recurrent theme through these interviews was the concept of Wealth Formula Banking. In case you didn’t notice, all three of these individual investors are essentially using Wealth Formula Banking as the cornerstone of their […] The post 277: Investor Roundtable on Wealth Formula Banking appeared first on Wealth Formula.

In June of 2008, I had just completed my surgical residency and gotten married the day after graduation. There was already quite a bit of change in my life. On the way back from my honeymoon, I looked for something to read at the Puerto Vallarta airport—not many choices as you can imagine. Most people […] The post 276: The Purple Pill appeared first on Wealth Formula.

“Coming out of left field” is a slang derived from baseball which basically references something unexpected. What does that equate to in personal finance? Well, the opposite of something unexpected would be something expected or… conventional. Conventional financial wisdom includes stocks, bonds, and mutual funds as the foundation of a solid, responsible portfolio. Conventional finance […] The post 275: What’s a Left Field Investor? appeared first on Wealth Formula.

In the last few episodes of Wealth Formula Podcast, we have had some serious specialists in the area of Real Estate and Natural Resources.  These shows are important because you, as an investor, need to know what’s going on out there so you can make educated decisions about where to deploy your capital. Solid information from […] The post 274: How to Become a Prolific Investor! appeared first on Wealth Formula.

We talk about a lot of concepts on Wealth Formula Podcast related to personal finance and sometimes it can be overwhelming: especially for the newbies in our community. So let me summarize the basics.  First, make sure you are protecting your family against the economic fall out of unexpected death. Estate planning, including life insurance, […] The post 272: Dave Steele on Why NOW is the Time to Buy Real Estate! appeared first on Wealth Formula.

In recent years, I have made some pretty darn good bets that have made me a lot of money. Now I know you are thinking that I am referring to my investments. And you are correct. But I am not referring to financial investments.  The investments that have made me the most money over the […] The post 270: Is a Wave of Mortgage Defaults Coming? appeared first on Wealth Formula.

I remember when I got out of surgical training and started my new life as an adult (at 33 years old), I was terrified by anything related to audits or legal issues. Any time I got a letter from the IRS about anything, I broke out into cold sweats. Every time I got a letter […] The post 269: Is the IRS Going to Audit You? appeared first on Wealth Formula.

One of the secrets to my own success as an investor has been to involve myself into a variety of tribes. What I mean by that is that I am around other intelligent, successful people who have a wealth of experience collectively as investors. For me, that has resulted in introductions to people with whom […] The post 268: What is Tribevest? appeared first on Wealth Formula.

Lots more questions to answer on this week’s “Ask Buck”! This episode includes questions on life settlements, Wealth Formula Banking, passive income, asset protection, and more. Listen HERE! The post 266: Ask Buck! Q2 2021 Part 3 appeared first on Wealth Formula.

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 […] The post 265: Ask Buck & Ian! appeared first on Wealth Formula.

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! The post 264: Ask Buck! Q2 2021 Part 2 appeared first on Wealth Formula.

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 […] The post 263: Is Hedera the Best Long-term Alt Coin Investment Today? appeared first on Wealth Formula.

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! The post 262: Ask Buck! Q2 2021 appeared first on Wealth Formula.

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 […] The post 261: Teaching Your Kids about Money appeared first on Wealth Formula.

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 […] The post 260: Does Crypto Have a Role in Real Estate? appeared first on Wealth Formula.

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 […] The post 259: Should You Invest in Wine? appeared first on Wealth Formula.

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 […] The post 258: What’s Next for the US Economy? Boom or Bust? appeared first on Wealth Formula.

“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 […] The post 257: Do You Have the Pandemic Blues? appeared first on Wealth Formula.

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 […] The post 256: What You MUST Know about Bitcoin! appeared first on Wealth Formula.

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 […] The post 255: Are the 20s about to Roar? appeared first on Wealth Formula.

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 […] The post 254: What Just Happened and What Next? appeared first on Wealth Formula.

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! The post 253: ASK BUCK 3/21 appeared first on Wealth Formula.

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, […] The post 252: What is the Best Risk-Adjusted Investment Today? appeared first on Wealth Formula.

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 […] The post 251: Should You Acquire a Business? appeared first on Wealth Formula.

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 […] The post 250: Infinite Fleet! An Asymmetric Risk Play? appeared first on Wealth Formula.

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 […] The post 249: Ask Buck 2/21! appeared first on Wealth Formula.

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, […] The post 248: New Government, New Taxes with Tom Wheelwright! appeared first on Wealth Formula.

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 […] The post 247: How to Defer Capital Gains of ANY Kind! appeared first on Wealth Formula.

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 […] The post 246: Financial Insights from Quarantine! appeared first on Wealth Formula.

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 […] The post 245: Back to Basics: Where to Start with Your Financial Plan! appeared first on Wealth Formula.

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! The post 244: Ask Buck Q4 2020 Part 4! appeared first on Wealth Formula.

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! The post 243: Ask Buck Q4 2020 Part 3! appeared first on Wealth Formula.

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! The post 242: Ask Buck Q4 2020 Part 2! appeared first on Wealth Formula.

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 […] The post 241: Ask Buck Q4 2020 Part 1! appeared first on Wealth Formula.

What if you were in a 747 jet airplane traveling 500 miles per hour. You could get to where you want to be pretty quickly. But what if you didn’t know where you wanted to end up? Well, then it wouldn’t do you much good to move at 500 miles per hour. In fact, depending […] The post 240: A Million Dollars a Month with Rod Khleif! appeared first on Wealth Formula.

Wealth Formula does, in fact, have a mathematical formula behind it.  Wealth=Leverage(MassxVelocity) I believe the key to building your wealth is behind maximizing each one of these variables. Mass is simple. It’s how much money you invest. If you have more money to invest then you are going to create more wealth.  Leverage is critical. […] The post 238: THE NEED FOR SPEED: The Western Wealth Way! appeared first on Wealth Formula.

Boring is good. Beware of shiny objects. When it comes to investing, those are the words that I generally live by. When I keep true to this wisdom, I don’t generally lose money. Now that doesn’t mean I have never lost money! Remember, before I became a boring domestic real estate guy, I was a […] The post 237: Is Angel Investing Right for You? appeared first on Wealth Formula.

We live in interesting times: a global pandemic, a recession and a divided country heading into an election year. Anyone who says they know for sure which way the economy is headed for sure in the next six months is lying.  So, what can we do now to prepare for an uncertain future? Well, that’s […] The post 235: Cashing in with Cash Machines! appeared first on Wealth Formula.

Estate planning is by far and away the most ignored topic amongst the high paid professionals with whom I talk to every day. First of all, it’s not a very sexy issue. Who likes talking about dying anyway? It’s kind of a buzz kill. But I got news for you…eventually you are going to die […] The post 234: What You MUST Know about Estate Planning! appeared first on Wealth Formula.

It’s not what you make but what you get to keep. Think about that for a second. If you are a physician in California that makes $500K per year, do you really make $500K per year? No you don’t. With combined state and federal taxes, you make half of that. The Federal government and the State of […] The post 233: Tom Wheelwright: Change Your Tax By Changing Your Facts! appeared first on Wealth Formula.

We are now just a few weeks away from a presidential election. Ordinarily that is, in and of itself, a wildcard for the economy. People tend to freeze up in times of uncertainty. Factor in some kind of October surprise which would not surprise me, on-going COVID-19 fall-out and decreases in government support and who […] The post 232: Real Estate Volatility Ahead? appeared first on Wealth Formula.

“Saying yes will get you to a million. Saying no will get you to $100 million.” That’s the advice I once got from a very successful centimillionaire friend of mine. And while, on the surface, it may seem like one of those things rich people say to sound profound, I assure you that the power […] The post 231: Should You Buy a Franchise? appeared first on Wealth Formula.

If you want to be wealthy, do as the wealthy do. The wealthy do not use IRAs and 401Ks to invest in heavy loaded mutual funds. That system is set up to make others wealthy! The ultra-wealthy get a completely different set of options when it comes to investing their money. They often have direct […] The post 230: The Secret Weapon of the Wealthy! appeared first on Wealth Formula.

People are social animals. We aren’t designed to be wearing masks, not touching each other, and quarantining. Yet for the last six months, that’s been our predicament. At the same time, we are increasing our dependence on digital socializing through social media and have significantly increased our collective screen times and subsequent exposure to toxic […] The post 229: Pandemic Got You Down? appeared first on Wealth Formula.

It is the second week of September—my birthday week. And…as I reflect on the past 12 months, I can’t help but think, “What a shitty year”. The only solace I take in my reflection is knowing how radically things can change over the course of 12 months. The pendulum just needs to move the other […] The post 228: Should you Invest in Hotels? appeared first on Wealth Formula.

If you like these “Ask Buck“ shows, you’ve been enjoying the last few weeks. I would love to get some feedback from you as I’m always trying to improve the quality of my content. In the meantime, here is the third and last ask Buck episode of the summer! We will do it again sometime […] The post 227: Ask Buck Part 3 appeared first on Wealth Formula.

We do a lot of interview based content on Wealth Formula Podcast. However, the feedback I get is that the most learning happens during our “Ask Buck” episodes.   The good news is that we have a bunch of questions lined up so we will do a couple of “Ask Buck” shows in a row […] The post 225: Ask Buck appeared first on Wealth Formula.

“You’re nuts!” That’s what I would say to anyone a year ago who suggested that we would face a global pandemic that would put us in a recession magnitudes greater than 2008 (based on GDP), make all bars and restaurants shut down and cancel professional athletics. I would also think you were nuts if you […] The post 224: Multifamily Macroeconomics in the Twilight Zone appeared first on Wealth Formula.

There is a phenomenon in finance that I have witnessed first hand that I find fascinating. The best way to explain it is to tell you about a guy I know out here in California who has been very successful as a fund manager. I asked him once about the expectations of his investors and […] The post 223: Self-Storage and Why Boring is Sexy appeared first on Wealth Formula.

Back in the early 1990s, I was a freshman at Columbia University in New York. Frankly, I wasn’t very interested in the academic part of college at the time. I was too busy doing what a college kid might do after being dropped into Manhattan after going to private school in the midwest. In fact, […] The post 222: The Dollar Milkshake Theory with Brent Johnson appeared first on Wealth Formula.

“Be careful what you wish for…lest it come true!” -Aesop’s Fables I remember back in college going to the mail center daily in hopes of finding and acceptance letter to medical school. Back then, I really romanticized the idea of being one of those heroes in a white coat. Fortunately, I got what I wanted […] The post 221: Average Sucks! appeared first on Wealth Formula.

Entrepreneurs are just professional problem solvers who keep score by how much money they make. I know this because I am an entrepreneur at my very core. It’s not a choice I made, it’s the way I was born. Entrepreneurship is not usually glamorous as frequently depicted in the movies or on reality shows. Most […] The post 220: Crisis=Opportunity for Real Estate Entrepreneurs! appeared first on Wealth Formula.

When in Rome, do as the Romans do. If we follow that advice, what do we do in an economic environment like today? Austrian economists would tell us to stop printing money and to keep the Fed out of the bond market. If we did that, we would go into a depression. No one denies […] The post 219: Macrowatch with Richard Duncan! appeared first on Wealth Formula.

Robert Kiyosaki’s Real Estate Advisor, Ken McElroy, was kind enough to give his perspective on the current state of apartment investing on last week’s episode of Wealth Formula Podcast. Ken’s perspective on the state of the apartment market was pretty bleak. While there is no doubt I respect Ken’s views, I also think it is […] The post 218: Resilience of Apartment Investments During the Pandemic: Dante Andrade appeared first on Wealth Formula.

I have been on the record for a while now anticipating the “tsunami following the earthquake.” In other words, COVID-19 was a destructive economic force but the aftermath may be even worse. The theory is based on historical observations of how these things tend to play out. The problem and potential flaw in the rationale, […] The post 217: Ken McElroy: What’s Happening with Multifamily Real Estate? appeared first on Wealth Formula.

In our latest Wealth Formula Network video conference, a question was asked that I think pretty much all of us have at this point. If the economy is in the tank, why does the stock market seem to be tone-deaf to what’s going on? It’s the elephant in the room, right? Well, I don’t claim to know […] The post 216: Tom Wheelwright: Update on Taxes and the Economy! appeared first on Wealth Formula.

Robert Kiyosaki is the author of Rich Dad Poor Dad, the best selling financial book of all time. He went on to publish several books including Cashflow Quadrant which fundamentally changed my life. To say that Robert Kiyosaki has made an impact in the world is an understatement. He has helped to create a generation of entrepreneurs inspired by his […] The post 215: Robert Kiyosaki on the Post-Pandemic Economy! appeared first on Wealth Formula.

There were a few questions left in the “Ask Buck” file that have finally been answered! You can listen to the latest episode HERE. The good news is that this format seems to be quite popular. I really do enjoy these virtual interactions and encourage you to keep those questions coming! Enjoy.  The post 214: Ask Buck Part 3 appeared first on Wealth Formula.

The post Bonus Episode: Tom Wheelwright on Important New Changes in the Tax Code! appeared first on Wealth Formula.

As I mentioned last week, we had a lot of questions piled up in the “Ask Buck” file that I need to get answered. As a result, we ended up with multiple shows. You can listen to the latest episode HERE. The good news is that this format seems to be quite popular. I really do […] The post 213: Ask Buck Part 2 appeared first on Wealth Formula.

Ever since this COVID-19 thing started, it seems like there is no other news. Maybe what that tells us is that most of the news we ordinarily get on a daily basis is worthless.  But seriously, doesn’t it seem like the world has just frozen into a COVID-19 coma? My ER doc friends joke that […] The post 212: Ask Buck Part 1 appeared first on Wealth Formula.

“It’s hard to make predictions—especially about the future.” That’s one of my favorite Yogi Berra quotes. It’s funny but also incredibly true. Think about what is happening now with COVID-19. Social scientists make predictions based on assumptions. The epidemiologists are making projections on the spread of the virus even though they have no significant knowledge […] The post 211: Are We Headed Towards a Depression NOW? appeared first on Wealth Formula.

Last episode we talked about the realities of COVID-19—what it is, what makes it so challenging and how dangerous it really is. We also talked about potential medical treatments. In this episode, we go into vaccinations and economic impacts of COVID-19. Listen to Part 1 here: https://www.wealthformula.com/podcast/208-4-doctors-a-virus-and-a-battered-economy-part-1/ Shownotes: The path to the new normal The […] The post 209: 4 Doctors, a Virus, and a Battered Economy: Part 2 appeared first on Wealth Formula.

What a strange time we live in where even public health issues are politicized. The wingnuts on the right want to downplay a virus that has already taken the lives of more people than the Vietnam war. The wingnuts on the left want to demonize anyone who even suggests an alternative approach to dealing with […] The post 208: 4 Doctors, a Virus, and a Battered Economy: Part 1 appeared first on Wealth Formula.

What are notes? Well, for simplicity, let’s call them mortgages. You owe the lender money when you take out a mortgage. However, that lender can sell that mortgage to someone else. That’s what it means to buy or sell a note. Notes can be performing or non-performing. Non-performing notes are simply those that have had […] The post 207: Non-Performing Notes in a Non-Performing Economy with Jorge Newbery appeared first on Wealth Formula.

As expected, the government roll out of the multi-trillion dollar stimulus program to save the economy has been sloppy and slow. People who need to tap into unemployment insurance can’t get through on the phone. Businesses who need money can’t get the money they applied for and, when they do, the terms are very unclear. […] The post 206: The Realities on the Ground appeared first on Wealth Formula.

I have to admit, I did not think that this Coronavirus thing was going to hit us this hard.  To be clear, I’m not just talking about how deadly this pandemic has turned out to be in terms of human life. A month ago, if you told me that just about every small business in […] The post 205: How to Protect Your Real Estate Investments appeared first on Wealth Formula.

Remember a month ago when this whole Corona-thing was sort of a theoretical issue? After all, we only had 15 cases reported in the whole country and no one had died. Sure, we were starting to see the news in China and Italy but they were so far away. Even the president said it would just […] The post 204: Wealth and Tax During a Meltdown: Tom Wheelwright, CPA appeared first on Wealth Formula.

A few days ago we had the worst single day loss in US stock market history. The next day we had the single best day seen by the Dow Jones Industrial average in 80 years. I have no idea what kind of volatility there will be between the time I write this email and when […] The post 203: Profiting Through the Only Guarantee in Life. appeared first on Wealth Formula.

What we are experiencing right now is truly a black swan event. Even those who predicted a recession had no idea how badly the global economy could be crippled in just a few weeks. Hopefully it will be short-lived. But frankly, even a few months of people staying at home and not buying anything will […] The post 202: What is the Safest Investment in American History? appeared first on Wealth Formula.

“People tend to overestimate what can be done in one year and to underestimate what can be done in five or ten years.”  That’s a quote with unknown origin that I’ve heard a few times and one with which I cannot agree more. All you have to do is to look at my podcast to […] The post 200: Comments and Questions from the Wealth Formula Nation! appeared first on Wealth Formula.

* In case you are wondering—I didn’t get a chance to finish episode 200 yet so we are going to call this one episode 199.5! One of the great things about Wealth Formula Network is having a community where people can share what they know including who to stay away from. For example, through our […] The post 199.5: Private Investments, Ponzi Schemes, and Fraudcasters appeared first on Wealth Formula.

“Be careful what you wish for, lest it come true!” The origin of this saying is Aesop’s Fables (circa 260 BC), not a modern country singer as some might think. Either way, it is a powerful statement when it comes to financial wealth.  You see, I talk to hard working, high paid professionals every day […] The post 199: How to Acquire the Ultimate Asset: Happiness appeared first on Wealth Formula.

Yogi Berra once said, “It’s tough to make predictions, especially about the future.” He was a wise man. No wonder they named a cartoon character after him. The problem is that everything we do in finance ultimately relies on some kind of belief of how the future will play out. As a result, we often […] The post 198: When Is That Depression Coming Anyway? appeared first on Wealth Formula.

If you are part of our Wealth Formula Investor Club you know that we do a lot of multifamily real estate. In fact, 95 percent of what we do is working class, value-add multifamily real estate with the same two operators. Some of you have invested literally millions of dollars into these deals. I’ve got […] The post 197: Good Deals, Bad Timing, and a Retirement Account Update! appeared first on Wealth Formula.

I don’t really like basketball and have never watched a full game in my life. Despite that, I knew who Kobe Bryant was and was shocked by the news of the tragic accident that took his and his daughter’s life. His passing actually reminded me very much of Princess Diana dying in a car crash […] The post 196: Russell Gray on Life After Loss appeared first on Wealth Formula.

People send me real estate deals to look at all the time trying to get an opinion on whether or not they should invest. Usually it’s some glossy executive summary showing nice pictures and impressive proforma numbers. “What do you think?”, they ask. My answer is pretty much always the same. “I don’t know these […] The post 195: Wealth Secret #1: Know, Like and Trust! appeared first on Wealth Formula.

I have a question for you. Did you make any significant New Year’s resolutions or set some serious 2020 goals for yourself this year? I bet when you set those goals, you likely felt a lot of energy: “This time I’m going to do it!”. You felt like nothing was going to stop you. Now, four […] The post 194: Hal Elrod and the Miracle Equation! appeared first on Wealth Formula.

Our private group, Wealth Formula Network, has a biweekly zoom video call to discuss anything and everything about personal finance. These calls are a lot of fun for people like me who like to geek out on money stuff. If you are the only one in your social network who likes this topic, Wealth Formula […] The post 193: The Real Investors of Wealth Formula Nation: The High Paid Doctor! appeared first on Wealth Formula.

Happy New Year! This is my first podcast of 2020 and I’m looking forward to another great year. I don’t know about you, but I get very reflective this time of the year and it is usually pretty helpful. I have a suggestion for you. Write down where you are today and where you would […] The post 192: What’s Happening with Real Estate in 2020? appeared first on Wealth Formula.

Last summer I had a drug reaction that made me pretty sure I was going to die. There was nothing terribly remarkable about the day it happened. I was with my wife and kids visiting my parents in Minnesota. On our last evening there, I stayed up a little later to chat with my parents. […] The post 191: What you MUST know about Estate Planning! appeared first on Wealth Formula.

The end of the year is a good time for giving. Of course we are already in the mood with the holidays. Buying presents has a way of greasing up the credit cards and making it easier to pull the trigger. The end of the year is also a good time to give to charity. […] The post 190: A Time to Give (and to Receive)! appeared first on Wealth Formula.

If you are struggling about finding the right Christmas present for your loved ones this year, I have a suggestion for you. Think EXPERIENCE. Last week I snuck my ten year old daughter out of school and drove her down to Los Angeles to be part of a live studio audience. It was for her […] The post 189: Ask Buck Part 3 appeared first on Wealth Formula.

Recently I started poking my nose into various physician financial facebook groups. I try to stay away from these things because they tend to put me in a bad mood. But facebook alerts make them constantly pop up on my phone and my brain reacts instinctually for its dopamine hit. When I do poke around […] The post 188: Ask Buck Part 2 appeared first on Wealth Formula.

I spend most shows interviewing other people. However, once in a while, it’s fun to speak to you directly. We call these question answer shows, “Ask Buck”. I recorded this podcast episode just before the holidays and I hope you enjoy it. By the time you get this note, Thanksgiving will be over but I […] The post 187: Ask Buck Part One appeared first on Wealth Formula.

With the recent boom of real estate crowdfunding platforms, I often get this question, “What do you think of the (fill in catchy name) platform? What platforms do you like?” The problem with this question is that it’s really not asking the right question. I am a real estate investor. When I invest in real […] The post 186: High Yield and Liquidity with Notes! appeared first on Wealth Formula.

In college, my two favorite courses were biochemistry and organic chemistry. The logic was very soothing to me. In high school, the only thing that gave me that sense of logically progressing to an answer was mathematics—especially geometry proofs. In other words, I like concrete answers and am not as comfortable leaving arguments unsettled. Like […] The post 185: Zero Hour and the Demographic Cliff! appeared first on Wealth Formula.

A simple question can have so much complexity around it. Here’s one I get all the time: “Should I pay off my house?”. Conventional wisdom says this is a no brainer. Look at all the financial gurus out there like Dave Ramsey and Suzi Orman—they all think you ought to be paying off your mortgage. […] The post 184: Should You Pay Off Your Mortgage? appeared first on Wealth Formula.

With the end up the year coming up, my mind is focused on what I can do to mitigate my tax burden.  We’ve done multiple investor club webinars on different strategies already this year within investor club. However, my favorite strategy to minimize my tax liability is to maximize depreciation. As it turns out, I have […] The post Bonus Episode: Cost Segregation and Bonus Depreciation! appeared first on Wealth Formula.

By now, you know my paradox. The more I invest in real estate, the less I pay in taxes because of my real estate professional designation. It could be worse. I could not have the designation and not be able to apply passive losses to all sources of my income! It’s a good problem to […] The post 183: Investing in Collectible Cars! appeared first on Wealth Formula.

If you read the title of this email and felt a little weird about it, I think that’s pretty normal. It was intended to get a reaction out of everyone. For those who believe in giving for the purpose of being a good person, it might disgust you to think of adulterating your good deeds. […] The post 182: Charitable Giving for Profit and Gain! appeared first on Wealth Formula.

Where are you today? Where do you want to be? Based on what you are doing right now, is there any chance that you are going to get there? Those are questions that I ask myself frequently—especially when I feel like I’m in a rut. Why is it important? Well, for those of us who […] The post 181: Changing Your Wealth Mindset with David Phelps appeared first on Wealth Formula.

I’m a doctor, but Wealth Formula is not a doctor podcast. Sure, probably 30-40 percent of my Accredited Investor Club is made up of physicians and dentists, but that just happens to be the byproduct of my own professional past. People with common background tend to flock together I guess. That’s fine with me. I […] The post 180: Is Venture Capital Right for You? appeared first on Wealth Formula.

I am in a financial position that may seem somewhat unusual to you. You see, the IRS rewards me for my real estate investments by taxing me less. If, on the other hand, I keep my income in the bank, or invest it in traditional equities or bonds, the IRS shows me no mercy! Admittedly […] The post 179: Buy, Borrow and Die: Bitcoin Style appeared first on Wealth Formula.

Have you heard of the 4 percent rule? I’m guessing you have as it seems to be some magical number espoused by traditional financial advisors and bloggers alike. The idea is that you should safely be able to withdraw 4 percent of your portfolio to live on for retirement. Theoretically the 4 percent is based […] The post 178: Fixed Income for Dummies! appeared first on Wealth Formula.

I am a simple guy. When I bowl, I throw the ball right down the middle of the lane. I couldn’t put any spin on it if I tried. My thinking is equally simple. In order for me to understand things, I have to break them down into smaller, easier to digest bites or I […] The post 177: Agricultural Investing in Paraguay? appeared first on Wealth Formula.

There is clearly fear in the heart of investors in the equity markets and real estate alike as talk of trade wars and recessions abound. Meanwhile, I’m investing more in multifamily real estate this year than I ever have. In fact, I’m investing my 80 year old dad’s money in the same offerings—the opportunities everyone […] The post 176: Should You Invest in Multifamily Real Estate NOW? appeared first on Wealth Formula.

Up to 10 percent of my liquid assets are in very risky stuff—specifically digital assets and startups.  A lot of people people think I am being irresponsible—particularly because I have a captive audience with whom I have influence. Now if I was shooting at the hip and telling you to put all your money in […] The post 175: Cryptocurrency and Asymmetric Risk with Teeka Tiwari appeared first on Wealth Formula.

Last week I was in Monterrey for car week. While I still drive my Toyota Prius from 2008 that I purchased during my final surgical residency year, I have an appreciation for vintage Italian cars so I attended the annual Concorso Italiano. Those old Ferrari’s are beautiful! There was a particularly stunning silver 1973 Ferrari […] The post 174: How to Invest in Fine Art with Beer Money! appeared first on Wealth Formula.

With the rocky stock market and concern for recession in the air, it is always interesting to go back and reflect on investing behaviors over time. These days, when people are frightened, they don’t invest. Instead, they keep all of their money in the bank. Why? Well, you’ve probably never witnessed a bank failure and […] The post 173: What Worked During the Great Depression? appeared first on Wealth Formula.

A while back, I had a guy on the show who had created an entire business focused on the creation of new Udemy content. Udemy is an app that allows anyone to make a course and publish it for others to buy. Courses are peer reviewed so you get a pretty good idea of what […] The post 172: Ask Buck appeared first on Wealth Formula.

Everything was fine until I got up from that recliner and walked down the stairs of my parents home to call it a night. Suddenly something seemed very wrong. It was like I was in a dream. I could not keep a thought and my whole body started to feel very heavy. I made it […] The post 171: Sudden Death, Vintage Ferraris and Wealth Formula Banking! appeared first on Wealth Formula.

Is this market hot? Are real estate and equity prices too high? Invariably you are hearing this left and right these days. In fact, I can honestly say that I have been hearing that for at least the last three or four years. My initial response to the impending zombie apocalypse was to stop deploying […] The post 170: How to Deal with Capital Gains Taxes! appeared first on Wealth Formula.

At a recent investor conference in Tenafly, NJ, I spoke on the topic of what I call Wealth 2.0. This is my preferred paradigm for investing that can be simplified into the the following equation: Wealth=Leverage(Mass X Velocity) Mass is simply the amount of money that is actually deployed into investments. After all, it doesn’t […] The post 169: Wealth 2.0: Leverage Your Deductions! appeared first on Wealth Formula.

Learning is an electrical function of the brain. When we first start learning something, our brains start developing connections to integrate that information. Over a period of time, those electrical connections become stronger and stronger giving the perception of something becoming second nature. It isn’t until a basic function becomes second nature that you can […] The post 168: Multidimensional Investing with Tom Wheelwright! appeared first on Wealth Formula.

If you can’t explain it, you don’t understand it. Remember that the next time you look across the table at a financial advisor type and feel confused. Ask yourself if you could explain what you were just told to someone else with some level of confidence. If not, start asking questions because the advisor will […] The post 167: Are You Ready for an Asset Protection Knife-Fight? appeared first on Wealth Formula.

Let me tell you about another one of my failures. A few years ago, I was listening to a well known podcast and I heard about this concept of turning single family houses into elderly care facilities.  The idea sounded pretty compelling so I decided to go to the “course” in Phoenix. In fact, I […] The post 166: Should You Invest in Assisted Living Facilities? appeared first on Wealth Formula.

We recently had a Wealth Formula Network call in which we talked about an offering some members were participating in that I didn’t care for as much. One thing to remember is that smart people can disagree about things without anyone necessarily being wrong. I pointed out some things I avoid when I invest and […] The post 165: Gray Hair, Peacocks and Unicornomics appeared first on Wealth Formula.

Debt is like a lethal weapon. It can be used for good and it can be used for greed. It can be used to create wealth and it can be used to destroy it. In short, debt is nothing more than a tool. The problem is that a fool with a tool is still a […] The post 163: When Bad Debt Happens to Good People with Jorge Newbery appeared first on Wealth Formula.

I am a lousy trader. I’ve said it before and I fully recognize this fact. That’s why, I try very hard to stay focussed on investing rather than trading. Nevertheless, I still get trapped in behaviors that I invariably regret. For example, you may know that I am a believer in bitcoin. I truly believe […] The post 160: Bull Markets in the Least Ugly Economy in the World! appeared first on Wealth Formula.

You might remember me talking about a part of the brain called the prefrontal cortex (remember I spent some time in the brain surgery business). The prefrontal cortex is the CEO of the brain. It’s the part that’s really good about making good decisions. For example, if you see a teenager doing something very dangerous […] The post 159: ASK BUCK appeared first on Wealth Formula.

Back in 2014, two of my medical businesses were KILLING it. I was making money hand over fist. Unfortunately, however, I made a mistake that many entrepreneurs make. Instead of taking money off the table and putting most of it into stable assets, I decided to dump the majority of it back into the business […] The post 157: Harvest Returns appeared first on Wealth Formula.

Lately, I’ve been getting a lot of questions from investors on how to choose investments—particularly private placements that are readily available to accredited investors. First, let me be clear that there is no magic solution to getting all of your investment picks right. In fact, if you invest long enough, something will go wrong. Next, […] The post 156: Centimillionaire Secrets with Richard Wilson appeared first on Wealth Formula.

When I first described by “work” to my CPA, Tom Wheelwright, he said, “So you are an entrepreneur who just happens to be a surgeon”. I hadn’t thought about it that way, but I guess that’s what I am.  Now listen, I don’t take the label “entrepreneur” necessarily as a complement. It’s more of an […] The post 155: TribeVesting appeared first on Wealth Formula.

It’s funny how long lasting paradigms perpetuate without question for centuries without being questioned. It used to be in most places, specific religions were mandated by the government to its people and heretics were persecuted. Of course that still exists in many parts of the world but the point is that a large part of […] The post 154: The Separation of Money from State appeared first on Wealth Formula.

I was just interviewed on a podcast earlier today and we got on the topic of gold. You know that I’m not a huge advocate for precious metals right now. Anyway, the argument became a little familiar. Ie. The global economy is going to melt down, there will be a zombie apocalypse and the the […] The post 152: History of Money, Gold and Crypto appeared first on Wealth Formula.

You may know that by the end of last tax year, I sold most of the real estate that I held by myself—as owner and operator? Why? Well, first of all, I realized that to do real estate right, it really is not ever TRULY passive unless you have a full time operator doing all […] The post 151: How to 1031 into a PASSIVE Asset appeared first on Wealth Formula.

Remember when you were a kid and you would go to the doctor? Your parents revered your doctor. The held him in high esteem. They trusted him. They would never say things like, “He’s just doing that test so he can make some extra money” or “He’s getting kickbacks from the drug company”. These are […] The post 150: How to Invest in Pain appeared first on Wealth Formula.

To all those who made it out to Scottsdale last weekend, it was great to see you! Of course I’m biased, but I have NEVER seen such a high quality group of people at an investors event before ours. You guys are by far the most interesting podcast listeners in the entire podcast ecosystem—guaranteed. Of […] The post 149: Real Investors of Wealth Formula: The Goose appeared first on Wealth Formula.

I’m a surgeon—a retired surgeon. I started out in neurosurgery. Then, after a couple years, I fled to a specialty where I could operate on the head and neck without the brain. I loved neuroscience, but found the brain, itself, to be a pain in the ass. When the brain gets injured, you can’t wait […] The post 148: Dentacoin? What? appeared first on Wealth Formula.

As you know, I have been on a kick to challenge myself to learn more about things that I don’t know about and to challenge my personal investing dogmas.  Recently, you saw me come out of the proverbial gold closet and proclaim that I don’t see the point of owning physical gold. You can hedge […] The post 147: Are Mobile Home Parks Right for You? appeared first on Wealth Formula.

If I hadn’t listened to Peter Schiff, I would have made gobs and gobs of money in the past few years. Now, don’t get me wrong. I like listening to Peter Schiff’s podcast. He is a very smart guy. In fact, he predicted the financial meltdown of 2008. It would be even more impressive if […] The post 146: Mini-Malls in 2019? appeared first on Wealth Formula.

Bitcoin and Blockchain are not dead. In fact, if you look at the history of bitcoin itself you see that it seems to have a feline propensity for multiple lives. After being battered and beaten up so many times, why is bitcoin not dead? I am reminded of a movie that I recently watched with […] The post 145: Nic Carter on the REAL Value of Blockchain appeared first on Wealth Formula.

If I have given you the impression that my life since leaving surgical training has been all ups and no downs, I have unintentionally misled you. The first business I started which was an owner operated medical business did well quickly its true. It allowed me to start investing in real estate. But that first […] The post 144: Millennial Money with Grant Sabatier appeared first on Wealth Formula.

It’s so strange to think of the way our politics have evolved even in my lifetime. The first president I remember (barely) is Jimmy Carter. Most of grade school for me were the Reagan years. After a bumpy start, the 1980s became the roaring 80s. It was a decade remembered for wealth and excess. Remember Wall […] The post 143: Who Cares About Poverty and Equality? appeared first on Wealth Formula.

Changing your personal financial belief system is like changing religions. Think about it. Maybe you grew up Christian or Jewish. Whether you practice or not, you have some pretty established beliefs. That’s why it’s not that common for people to convert from one religion to another. Maybe that’s an extreme example but there is a […] The post 142: Gold: To Buy or Not to Buy? That is the Question appeared first on Wealth Formula.

Not everyone is that excited about blockchain. Especially these days as the market is about 90 percent down from its January highs. But remember, while the bubble was real, so is the technology. There is something here that will start to permeate our world—even if we have no desire to invest in cryptocurrencies. You see, […] The post 141: Tokenizing Real Estate with Matthew Sullivan appeared first on Wealth Formula.

I remember being in medical school thinking that I wanted to be a surgeon. The idea of it appealed to me very much. I certainly had the personality of a surgeon. But there was something about which I felt very insecure. You see, growing up, my dad was about as white collar as they get. […] The post 140: Multifamily Mastery and Infinite Returns with Janet LePage appeared first on Wealth Formula.

You know it’s been a hell of a year in terms of market volatility right? Now, in cryptocurrency, we expect that. It is a speculative asset class with binary outcomes. That’s why we only invest money in money that we can lose. In 2018, we definitely lost it (who knows about 2019). But the equity markets are […] The post 139: Ask Buck New Year’s Edition! appeared first on Wealth Formula.

I’d like to give each and every one of my listeners a gift this year so I’m going to do that the only way I know how—to give you some unsolicited advice (not to be confused with financial advice). Take it or leave it but these concepts have served me well. So…let us begin! Invest […] The post 138: Ask Buck Christmas Edition appeared first on Wealth Formula.

People keep asking me the same question these days—Buck, what are you investing in given the relative instability of asset prices and the economy? Now I won’t give you financial advice—that is my disclaimer. But I will tell you what I tell everyone else. In times like these, I stick mostly to multifamily real estate […] The post 137: Wealth Formula Banking: The Things We Never Talk About appeared first on Wealth Formula.

How was it that some people were able to predict the 2008 financial meltdown? Were they clairvoyant? To be clear, I’m not talking about those who predict a financial meltdown every year. I’m talking about groups like ITR economics who we had on the show a few weeks ago that also accurately predicted periods of […] The post 136: How to Predict the Future with Richard Duncan appeared first on Wealth Formula.

I have written and talked before about the value of gold. What is the real purpose of holding gold anyway? Gold bugs will argue that gold is the only real money and that’s why they hoard it. I think that’s fair. Gold is money and if you just want to keep some money around gold […] The post 135: Is Real Estate as Good as Gold? appeared first on Wealth Formula.

When I was a kid growing up in the early eighties, I remember my parents opened up a savings account for me and let me take the interest out as an allowance. That was a pretty good deal for an eight-year-old. I remember riding my bike to the bank every couple of months and showing […] The post 134: Global Disintegration and Robots Stealing Your Job! appeared first on Wealth Formula.

Is it just me or does politics these days resemble a reality television show? It’s crazy. Take a step back for a moment. Regardless of your political preference, you have to admit that the last two years have been unprecedented. Remember when having an affair was enough to end a political career? Now, we have […] The post 133: Spies, Lies, and Leaks with Valerie Plame appeared first on Wealth Formula.

Remember ARPANET? There’s a good chance you don’t. It was a precursor to the internet that essentially allowed researchers to access each other’s data. It was actually a revolutionary technology that, as you know, ultimately led to the creation of something that fundamentally changed the world. With the rise of the internet and all the […] The post 132: Investing in the Internet… 2.0 appeared first on Wealth Formula.

When I go back to some of my earliest interviews, I am always shocked at how my opinions have changed over just a couple of years. When I first started Wealth Formula Podcast, I was less sophisticated than I am now. I was being overly pessimistic about the economy just like other podcasts in the […] The post 131: Buy Notes or Invest in a Fund? appeared first on Wealth Formula.

Most people aren’t trying to become ultra-wealthy. They just want to feel safe and to feel some level of freedom from the shackles of the daily grind. You see, the majority of us have one source of income and it’s usually being paid by someone else. That is not a recipe for stability. No matter […] The post 130: Willpower Doesn’t Work with Ben Hardy appeared first on Wealth Formula.

It’s very hard to become an entrepreneur without any life experience. I know it seems like that’s the way it works. After all, look at Mark Zuckerberg and the other teenage tech superstars out there who did it shortly after puberty. But in reality, most of the entrepreneurs that I know spent some time working […] The post 129: Trust Fund Rats and Behaviorceuticals appeared first on Wealth Formula.

Beware of Chicken Little. The financial podcast space is small and we often tend to start believing each other and then spreading those same opinions to our listeners as facts. General sentiment in the alternative investing communities is bearish right now. The problem is, that has been the case for the last 3-4 years. And guess […] The post 128: The Roaring 2020s and the Depression of 2030 appeared first on Wealth Formula.

Never try to convince a fool that he’s a fool. He won’t believe you anyway. I hate to say it, but that’s why I never talk money with people unless they bring it up with me first. That’s what’s great about being a podcaster. People CHOOSE to listen to you or to be on your […] The post 127: Tom Wheelwright and Tax Free Wealth 2.0 appeared first on Wealth Formula.

Visit consensusnetwork.io for the full episode and more crypto content! The post Bonus Content – Consensus Network: Cryptocurrency News & Education appeared first on Wealth Formula.

I’ve learned a lot of stuff in my life—from the principles of neurosurgery to the intricacies of cryptocurrency. Some of this stuff is pretty complicated…at first. But, I’m going to let you in on a little secret if you don’t know it already. Just about everything that appears complex at first can be broken down […] The post 125: Wealth and the Deathbed Framework appeared first on Wealth Formula.

Leverage in the form of bank debt is a double edge sword. Obviously, consumer debt to buy things like televisions and mall junk can only be negative in the financial sense. However, using debt to buy cash flowing assets is perhaps the single most powerful weapon we can use to create wealth and the thing […] The post 124: Real Estate Millions with Grant Cardone! appeared first on Wealth Formula.

Man am I tired of hearing people with a lot less money than me giving financial advice. I have to actively suppress my temper when someone forwards me an article full of misinformation that someone, that is clearly clueless and NOT wealthy, wrote on a blog! There is a lot of know-it-alls in this financial […] The post 123: Invest Like a Centimillionaire with Richard Wilson! appeared first on Wealth Formula.

A few conversations I had with investors over the last week got me thinking that we need to talk about some basics again. First of all, let’s start with why I generally prefer to own an asset (either in entirety or a fraction) as opposed to simply holding a note. What is a note or […] The post 122: Cash Talk with the Cash Flow Ninja appeared first on Wealth Formula.

When I was in high school, I remember taking my first political science course. That was the first time I learned the political meaning of conservative or liberal. Up to this point, I had viewed those words as synonymous with Republican or Democrat. Of course that wasn’t quite the same thing. A conservative, I learned, was someone who […] The post 121: Are We Really a Capitalist Society? A Harvard Professor Explains. appeared first on Wealth Formula.

The prefrontal cortex is the CEO part of the brain. It is involved with personality, decision making, and moderating social behavior including impulse control and risk taking. You may not be surprised to learn, therefore, that this structure matures late in life. One study found that the prefrontal cortex may continue maturing late into your […] The post 120: Prefrontal Investing with Dr. David Phelps appeared first on Wealth Formula.

I remember being a kid in the back of my parents’ car on long driving trips to Wisconsin—we used to go to a place called Wisconsin Dells which is kind of a “Las Vegas for children”—lots of water parks, go-karts, and stuff like that. We’d stay in a cheap hotel with a swimming pool and […] The post 119: Why WAX is HOT! appeared first on Wealth Formula.

One thing I’ve learned in life is that someone is always ready to tell you why something can’t be done and usually they are wrong. I had that happen with my first accountant. Years ago, I was reading some of Kiyosaki’s and Tom Wheelwright’s stuff and told him what I wanted to do. He told […] The post 117: BETTER than a Self Directed IRA! appeared first on Wealth Formula.

The central theme of Wealth Formula Podcast is that there are two investing worlds. One is for the poor, middle class, and the upper middle class. The other is for the ultra-wealthy. Now the funny thing is, that many of those in the middle and upper-middle classes could be investing like the ultra-wealthy but one […] The post 116: Central Bank Collusion with Nomi Prins appeared first on Wealth Formula.

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 […] The post 115: Ask Buck with Lane Kawaoka appeared first on Wealth Formula.

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 […] The post 114: What is the Freedom Formula? appeared first on Wealth Formula.

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 […] The post 113: How to conquer burnout and the golden handcuffs appeared first on Wealth Formula.

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 […] The post 112: Death: The Ultimate Financial Hedge appeared first on Wealth Formula.

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 […] The post 111: The Current State of the Economy with Doug Duncan appeared first on Wealth Formula.

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!  […] The post 110: What’s Your Financial IQ?: David Norris, M.D., M.B.A appeared first on Wealth Formula.

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 […] The post 108: The Bitcoin Killer: Mance Harmon on Hashgraph appeared first on Wealth Formula.

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 […] The post 107: Cash Flowing with Stocks with Andy Tanner appeared first on Wealth Formula.

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 […] The post 106: Entrepreneurship and Mobile Home Millions with Kevin Bupp appeared first on Wealth Formula.

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 […] The post 105: Cash Flow with Raw Land: Mark Podolsky appeared first on Wealth Formula.

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 […] The post 104: The Next Crypto BOOM with Teeka Tiwari! appeared first on Wealth Formula.

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 […] The post 103: Wealth Tips and Tricks with Jim Dew appeared first on Wealth Formula.

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 […] The post 102: The Millionaire Mindset with Michael Bernoff appeared first on Wealth Formula.

One of the reasons I don’t like investing in the New York Stock Exchange is that by 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 […] The post 101: Invest like the rich with equityzen appeared first on Wealth Formula.

In 2008, when I finished my surgical residency, my net worth was about negative $75,000—not bad considering that number included education until I was 33 years old! As you know, 2008 was also the year of the great meltdown of the financial system. Doctors that I knew who had been practicing for decades with the […] The post 100: Your Roadmap to Real Wealth! appeared first on Wealth Formula.

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). […] The post 099: Profiting in Leisure with Beth Clifford appeared first on Wealth Formula.

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 […] The post 098: Monetizing What You Know with Jonathan Levi! appeared first on Wealth Formula.

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 […] The post 097: Profiting from Broadway with Erica Schwartz! appeared first on Wealth Formula.

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 […] The post 096: Why Solar Might Start to Shine with Stephen Honikman appeared first on Wealth Formula.

“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, […] The post 095: Untold Secrets of the Successful: Jorge Newberry appeared first on Wealth Formula.

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 […] The post 094: The ONE thing with Jay Papasan appeared first on Wealth Formula.

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 […] The post 093: Self Storage is Sexy and Profitable! appeared first on Wealth Formula.

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 […] The post 092: Gold, Crypto, and AI with Kenneth Ameduri appeared first on Wealth Formula.

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 […] The post 091: Crisis, Opportunity with Kathy Fettke appeared first on Wealth Formula.

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, […] The post 090: Podcasting for Fun and PROFIT! appeared first on Wealth Formula.

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 […] The post 089: Why The Rich DO NOT use IRAs appeared first on Wealth Formula.

You know, one of the interesting things about getting older is that you have the ability to look back and tell a story about yourself—to create a narrative about the moments and the people that, for better or for worse, changed the course of your life. I remember the day I decided to become a […] The post 087: Robert Kiyosaki on Why Educated Professionals Make Lousy Investors appeared first on Wealth Formula.

In 1593 a Dutch botanist named Carolus Clusius planted several tulip bulbs in his botanical garden and over time he proved their ability to grow in the harsh conditions of the Low Countries. Tulips were new to Europe and they looked nothing like plants the Dutch had seen. Furthermore, a virus specific to the Tulips […] The post 086: Tulips or Technological Revolution: Cryptotalk with Teeka Tiwari appeared first on Wealth Formula.

I am a refugee of the Thomas fires that crept dangerously close to my home in Montecito, CA. That’s why my audio sucks on the introduction of this week’s podcast. Fortunately the actual interview was done before my evacuation. As I mentioned in the introduction of last week’s show, I woke up to ash on […] The post 085: Accredited to Accredited with Gena Lofton appeared first on Wealth Formula.

I cannot tell a lie… Despite the fact that I am a libertarian and seem to run in circles with some pretty depressing people: I do not see the future filled with doom and gloom. I do not believe that the United States is screwed and that you should start preparing for Armageddon. I do […] The post 084: Preparing for the Storm with Chris Martenson appeared first on Wealth Formula.

Thousands of years ago, in the Roman Times of Christ, you would go to your local store and trade your ounce of gold coins for a nice toga and a pair of sandals—something worthy of wearing to the coliseum. Today, an ounce of gold will buy you a pretty nice suit and a pair of shoes—something […] The post 083: What You Need to Know About Gold with Dana Samuelson appeared first on Wealth Formula.

Why do you believe what you believe? Are you a republican or a democrat? Are you pro-choice or pro-life? How about guns? Should guns be outlawed in the United States? Do you ever look at the “other side” and wonder if they are absolutely nuts? “How could they believe what they believe and stand for […] The post 082: The Moral Case for Fossil Fuels appeared first on Wealth Formula.

When you listen to my podcast or read my book, you might think I am rigid about my investing. After all, the principals of wealth creation that I teach are: Invest in cash flowing assets. Understand how your investments work. Invest in real things—things you can see touch and feel. Invest in things that people […] The post 081: Become an “Insider” with Nick Hodge appeared first on Wealth Formula.

Being a podcaster is kind of unusual. Last month I had over 30K downloads (not bad) yet I only speak to a fraction of you through investor club. Even fewer of you know each other despite the fact that you have a lot in common. The good news is that I will be launching a […] The post 080: Ask Buck appeared first on Wealth Formula.

Last summer I learned how to swim for the first time. I was an athletic kid but somehow missed that window in my life when it was ok to not know how. After all, when you are two or three years old, not knowing how to swim is par for the course–but not when you […] The post 079: Self Directed IRAs and Solo 401ks with Theresa Fette appeared first on Wealth Formula.

How our brains have evolved over time is a funny thing. The same things that make us wildly successful in life have the potential to make us miserable. This is the cruel paradox of the high achieving, high paid professional. We are strivers and we have very high expectations of ourselves. That’s not a bad […] The post 078: Zen and the Art of NFL Football with Dr. Colleen Crowley appeared first on Wealth Formula.

Why do I advocate investing in real things like real estate and precious metals instead of stocks, bonds, and mutual funds? Because I understand them and they are, for the most part, predictable. I understand that, when I buy an apartment building, people have to pay me rent. That property might go up and down […] The post 077: Confessions of an Artificial Intelligence Hedge Fund Manager: Howard Getson appeared first on Wealth Formula.

The wealthy think differently than most of us– Here’s the challenge–In order to be wealthy, you must think like the wealthy! “But Buck, if I don’t know how they think how can I do that?” Well, I’ll tell you. You see my job on Wealth Formula is to infiltrate the world of the wealthy. Think […] The post 076: Setting Your Wealth Thermostat: Rod Khleif appeared first on Wealth Formula.

In 1943, psychologist Abraham Maslow published a paper called “A Theory of Human Motivation.” In this paper he described, what has come known as, Maslow’s Hierarchy of Needs. Basically its a pyramid structure describing different human motivation drivers. At the bottom of this pyramid lies physiological needs–food, water, etc. The next level up is safety […] The post 075: Maslow’s Hierarchy of Investing with Mike Ayala appeared first on Wealth Formula.

I cannot tell a lie–in my first business I made a small fortune sucking fat from places where people didn’t want it and putting it back where they wanted more! I told Robert Kiyosaki about that last April and that’s how he remembered who I was the rest of the cruise. My wife hates it […] The post 074: Make an impact AND make a profit! appeared first on Wealth Formula.

“Can you explain what internet is?” That’s the question Katie Couric asked her colleagues on the Today Show in 1994 as an equally confused Bryant Gumbel looked on. Now don’t you wish you knew what the internet was back then? Don’t you wish you had enough foresight to see this seismic shift in not only […] The post 073: What the heck is bitcoin? appeared first on Wealth Formula.

Robert Kiyosaki opened my eyes to the notion of passive multiple income streams 9 years ago and it changed my life. Of course, my dad had been talking about “cash flow investing” since I was born but for some reason I was too dense to figure out what he meant. In the context of Kiyosaki, […] The post 072: Automate Streams of Income Through Amazon! appeared first on Wealth Formula.

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 post 070: Real Estate Investing with Russell Gray! appeared first on Wealth Formula.

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 […] The post 069: Deconstructing Destructive Belief Systems appeared first on Wealth Formula.

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 […] The post 068: Going to California appeared first on Wealth Formula.

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 […] The post 067: Estate and Asset Planning ESSENTIALS with Kevin Day appeared first on Wealth Formula.

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 post 066: G. Edward Griffin and the Institutionalized Theft of Your Money appeared first on Wealth Formula.

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 […] The post 065: Angel Investing with David S. Rose appeared first on Wealth Formula.

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 […] The post 064: The Step After Wealthy with Dean Graziosi appeared first on Wealth Formula.

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 […] The post 063: Investing in Businesses with Victor Menasce appeared first on Wealth Formula.

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 […] The post 062: Investing in the ONLY Guarantee in Life appeared first on Wealth Formula.

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. […] The post 061: Investment Secrets of the Ultra Rich with Richard Wilson appeared first on Wealth Formula.

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 […] The post 060: Cash Flow to the tune of Barry White with Jeff Schneider appeared first on Wealth Formula.

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 […] The post 059: An Economy on the Eve of Disaster with Peter Schiff appeared first on Wealth Formula.

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, […] The post 058: Brain Surgery and Avoiding Financial Mind Traps with John Howe! appeared first on Wealth Formula.

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 […] The post 057: Personal Finance Tips and TRICKS with Jordan Goodman appeared first on Wealth Formula.

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 […] The post 056: Fannie Mae’s Chief Economist Speaks: Doug Duncan appeared first on Wealth Formula.

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 post 055: Confessions of a Cash Flow Ninja: MC Laubcher appeared first on Wealth Formula.

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 […] The post 053: Peak Prosperity with Chris Martenson! appeared first on Wealth Formula.

This week’s weekly wealth widget is sort of no-brainer for most of us. However, if you are still sitting on real estate sidelines, this one is for you. Here are just a few reasons why you strongly consider investing in residential real estate. You own a real asset that does not fluctuate on a day […] The post 05: Should You Invest in Residential Real Estate? appeared first on Wealth Formula.

We are a culture of robots created by the industrial revolution. Our current public educational system was modeled after a system created by the Prussians in the early 1800s and was imported to us during the industrial revolution by guy named Horace Mann. This system was then fine tuned by a group of 10 guys […] The post 052: Be Passive and Prosper with Marco Santarelli appeared first on Wealth Formula.

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 […] The post 051: Wealth Grows in Trees with Alex Wilson appeared first on Wealth Formula.

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 […] The post 050: Financial War with Jim Rickards appeared first on Wealth Formula.

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 […] The post 049: Leverage is time with Ari Meisel appeared first on Wealth Formula.

When I finished my training and figured out that I had to invest money somehow, the hardest thing for me was figuring out who to trust. The first apartment building I bought was a 14 unit building in the southern suburbs of Chicago. I would now characterize that as a C- to D+ area. My […] The post 048: Robert Kiyosaki’s Real Estate Advisor Ken McElroy appeared first on Wealth Formula.

Everyone defines wealth a little differently. My own definition of wealth is in the form of an equation wealth=time. Time is my currency of choice. It gives me the freedom to do whatever I like with my life. For the last 2 days, I took my three little girls (8,4,2) sledding in in the afternoon […] The post 047: Making Yourself Rich and Giving to the Poor with Old Dawg Manassero appeared first on Wealth Formula.

My investor club is for “accredited investors.” What is an accredited investor? Well, it’s not something you apply for like it sounds. Being an accredited investor is just something you are or you are not…like you are either pregnant or you are not. An accredited investor is a defined by our friends at the SEC […] The post 045: Private Investing with Mauricio Rauld appeared first on Wealth Formula.

The ideal business is not one that is necessarily glamorous. I have a cosmetic surgery business that is uncomfortably glamorous for me–I’m not a really flashy guy. Nevertheless, my plastic surgeons do a great job of making people get over their body hangups. It’s not just about changing a person’s physical appearance, it is actually […] The post 044: Small Change, Big Profits with Eve Picker appeared first on Wealth Formula.

In the 1980s, you could get double digit returns on your savings. Interest rates were that high.  That said, inflation was out of control as well so the real value of earnings might not be as attractive as it is at first glance but certainly better than today. Today’s economy punishes savers be eroding there […] The post 043: Inflated: How Money and Debt Built the American Dream-Christopher Whalen appeared first on Wealth Formula.

I recorded this interview with Reed Goossens several weeks ago but could not figure out where to put it because it is focussed on investing the USA for foreign investors. I did not want to leave all you Yankees out for a whole week so I decided to broadcast this as a bonus episode. Going […] The post 042: Bonus Episode: Investing in the USA appeared first on Wealth Formula.

I’m going to Belize next weekend. Actually, by the time you get this message, I will already be back. I’m looking forward to seeing some of you there at the field trip. Our Mahogany Bay Village investment opportunity in Ambergris Caye, Belize with its world class luxury affiliation is active and we are fast and […] The post 041 : Get Wealthy FASTER with “Momentum” appeared first on Wealth Formula.

Wherever you stand on the political spectrum, you must admit that the Trump presidency has already demonstrated that it is going to do things differently over the next 4 years. Curiously, history shows us that presidents have very little to do with the state of the economy. Mostly, they are just in the right place […] The post 040 : Interest Rates, Mortgages and Apartment Buildings with James Eng appeared first on Wealth Formula.

I had a really interesting week. As you know I launched my book 7 Secrets of Eternal Wealth a week or so ago and it became an international best seller. I also got invited to appear on 7-8 TV show to talk about the book. So I’m excited to get our message out to more […] The post 039: Chocolate Covered Profits with David Sewell! appeared first on Wealth Formula.

The inauguration was yesterday and the world is pretty much the same. It’s actually sunny in Chicago which is a rarity this time of the year Meanwhile, the Dow is going crazy…flirting with 20,000. Trumpenomics has got people excited. Small business future confidence indices are off the charts. The enthusiasm has not been this high […] The post 038: Trump, the economy, and the future with Lior Gantz appeared first on Wealth Formula.

Robert Helms and Russell Gray are known best as “The Real Estate Guys.” This radio show and podcast is the number one real estate show in the world. Many of you already know them and listen to them. What most of you probably don’t know, however, is that Robert and Russ are also very good […] The post 037: Hotel Investing In Paradise with Robert Helms! appeared first on Wealth Formula.

I have said it before, but the wealth formula is not just about real estate. it’s about owning things. If it’s real and it makes you money, it’s an asset and that’s all that matters. Obviously you can layer some conditions on top of that. For example, you may want to only invest in things […] The post 036: Cashing in with Cash Machines! appeared first on Wealth Formula.

The elegance of Robert Kiyosaki’s Rich Dad Poor Dad is in its simplicity. You invest for cash flow. An asset is something that puts money in your pocket while a liability is something that takes money out of your pocket. That simplicity was frowned upon by Kiyosaki’s critics when the book came out. Financial critics […] The post 035: Surgical Investing with Tom Burns! appeared first on Wealth Formula.

Happy holidays everyone! I hope you all had time to rest and rejuvenate. How about we make some New Year’s resolutions and stick to them in 2017. There are thousands of you out there listening to me from around the world. If you’re listening to my program, that means that you are already investing in […] The post 034: Apartment Investing with Jake and Gino from Wheelbarrow Profits! appeared first on Wealth Formula.

Everyone has to protect their assets. The problem is that most of us don’t think about it very much until it’s too late. We live in an incredibly litigious society. Who knows when you might get into a fender bender or one of your kids does and the next thing you know you’re getting sued. […] The post 033 : Robert Kiyosaki’s advisor on Asset Protection: Garrett Sutton appeared first on Wealth Formula.

As you know, I am pretty passionate about entrepreneurship and investing. Specifically, I tend to be dogmatic on investing in real assets. Am I right? I don’t know. Obviously I think so. That said, there are plenty of rational, smart human beings that are investing in a more traditional fashion. Are they wrong? Obviously I […] The post 032 : Cash Flow vs Capital Gains with the White Coat Investor appeared first on Wealth Formula.

It has been a crazy couple weeks for me. As some of you know, I am aggressively pursuing some deals in a couple of great US multifamily markets and I’m getting really close to getting some under contract. That’s good news for me and for my investors! If that sounds interesting to you, make sure […] The post 031: Get Rich Education with Keith Weinhold appeared first on Wealth Formula.

Real asset investing is not limited to the rich. In fact, if you look at the crowdfunding movement on the internet, you can now invest in just about anything you want. Crowdfunding laws in recent years were intended to rectify the “unfair advantage” that the more affluent had to investments with greater profit potential. But… […] The post 030: Buying Turnkey Rental Houses in Alabama! appeared first on Wealth Formula.

No one wants to get old but it’s better than the alternative. Imagine getting to that age when you are unable to take care of yourself and you start feeling like a burden on your kids. What do you do? These days, most people in this situation end up at an assisted living facility. When […] The post 029: Assisted Living: Huge Profits and Good Deeds! appeared first on Wealth Formula.

I have talked about Jorge Newbery several times on my show in the past. It has always been in the context of his 12 percent yield mind blowing fund. But little did I know that before that, Jorge was a real estate prodigy making literally millions of dollars from dilapidated, rejected, apartment buildings and resurrecting […] The post 028: The Story EVERY Real Estate Investor Must Hear! appeared first on Wealth Formula.

This show is about Tax Free Wealth with Tom Wheelwright. So with all my posts about taxes and my special report, you are probably thinking I’m a little obsessed with this whole tax thing. Well, I am and it’s in part because I read this book called Tax Free Wealth from Tom Wheelwright about 3 […] The post 027: Robert Kiyosaki’s Advisor Tom Wheelwright on TAX FREE WEALTH appeared first on Wealth Formula.

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 […] The post 026: Attention: This show will make you money! appeared first on Wealth Formula.

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 […] The post 025: What’s your Investment Philosophy? appeared first on Wealth Formula.

My goal with the Wealth Formula Podcast is to build a community of likeminded individuals who can learn from one another. A community implies some level of interaction. Therefore, every once in a while I like to do a little show called “Ask Buck”. In this week’s Ask Buck episode, we had some pretty interesting […] The post 024: Ask Buck: Gold, Debt, and Inflation appeared first on Wealth Formula.

I have been talking to many high paid professionals like you lately who have found some inspiration from the guests that I have had on the show. Whenever I get a chance to ask people what kinds of things they want to invest in, they rattle off a lot of great stuff like real estate, […] The post 023: Use your IRA to invest in real estate and other real stuff appeared first on Wealth Formula.

When you put aside money for retirement, who’s advice are you taking? Are you taking the advice of the wealth advisor who makes money every time you make a deposit? Why do you trust your wealth advisor? Is he or she wealthy? These are questions that are critical to ask yourself if you want to […] The post 021: High paid professionals professionals dying broke: how to avoid the retirement deathtrap appeared first on Wealth Formula.

The words “real estate investing” conjure up many different images. For some, it might make you think of Vanilla Ice’s reality show on flipping homes. For others, The idea of real estate makes you think of real estate moguls such as Donald Trump. The reason for these very different images is because real estate is […] The post 020: Real Estate Cashflow and Capital Gains with Andrew Holmes appeared first on Wealth Formula.

Let’s talk, for a minute, about how a bank works. You deposit money in the bank. These days, they pay you less than 1 percent interest. Because they are a bank, they are able to lend out most of the money you deposited. This is called the fractional reserve system. It’s complicated and best addressed […] The post 019: Cashflow from Owning Commercial Mortgages! appeared first on Wealth Formula.

Your typical wealth advisor stresses the importance of a diversified portfolio. However, to them, that means investing in a variety of stocks, bonds, and mutual funds. I believe in portfolio diversification, but diversification should NOT be limited to different classes of paper assets that react to the emotional whims of normal geopolitical undulations. Diversification should […] The post 018: Cashflow from Specialty Coffee in Panama! appeared first on Wealth Formula.

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 […] The post 017: Taking Real Estate to the Next Level appeared first on Wealth Formula.

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 […] The post 016: Confessions of a Serial Entrepreneur appeared first on Wealth Formula.

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 […] The post 015: How to figure out if you are an entrepreneur appeared first on Wealth Formula.

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 […] The post 014: What is your dream and WHY aren’t you living it??? appeared first on Wealth Formula.

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 […] The post 013: Ask Buck appeared first on Wealth Formula.

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 […] The post 012: An engineer turns to turn-key real estate! appeared first on Wealth Formula.

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!) The post 011: Doctor, my portfolio hurts! appeared first on Wealth Formula.

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 […] The post 010: The biological secret to success: repeated failure appeared first on Wealth Formula.

Zed Williamson was a high paid professional but was not satisfied. He shed his golden handcuffs and went on to build a company just like the one he worked for…but better. In the process, he gave him self a BIG raise! The post 009: From High Paid Professional to Higher Paid Entrepreneur appeared first on Wealth Formula.

Implications of the world order on your pocket book. The post 008: What the heck is Brexit? appeared first on Wealth Formula.

The post 007: Kiyosaki’s Quadrant from a Professional’s Perspective appeared first on Wealth Formula.

Is the stock market about to crash? Is inflation about to take off? What should you do? The post 006: The crash is coming! appeared first on Wealth Formula.

Back to Basics. What is exactly is the wealth formula again? The post 005: What is the Wealth Formula? appeared first on Wealth Formula.

Interview with Jorge Newberry, Director of American Homeowner Preservation LLC. http://www.ahpinvest.com Call: (800) 555-1055 The post 004: Helping Others While Getting 12% ROI! appeared first on Wealth Formula.

Interview with Dennis Blitz, President of The IRA Club. http://www.iraclub.org/ The post 003: Using Your IRA to Buy Assets Instead of Worthless Paper appeared first on Wealth Formula.

The post 002: The Real Story Behind Real Estate appeared first on Wealth Formula.

The post 001: Introduction to Wealth Formula appeared first on Wealth Formula.