Wealth-Building Made Simple
1,062 episodes - English - Latest episode: 21 days ago - ★★★★★ - 12 ratingsWith so much information out there on how to build wealth, it’s understandable how some people can get overwhelmed. My team and I created this one stop shop podcast to explain wealth-building topics in a short and simple way so that anyone can understand, no matter if they have $10 dollars or $10 million dollars to invest.
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Episodes
Business: The Growth Phase of Apple, Inc.
May 11, 2023 11:47 - 9 minutes - 9.4 MBSummary notes: In the growth phase of a company, it's important to make sure to have a the right team in place. A fast growing company encounters unnecessary resistance when it doesn't have the right person in the right seats. No matter how intelligent the entrepreneur, they can't do it all by themselves. Powered by ReiffMartin CPA and Stone Hill Wealth Management https://www.reiffmartincpa.com/ https://stonehillwealthmanagement.com/ Join the Wealth Building Made Simple Newsle...
Innovation: A Deep Dive into 3D Printing
May 10, 2023 11:41 - 16 minutes - 22.7 MBSummary notes: The discussion centers on how decentralizing the truth can lead to more equitable distribution of resources. The example of 3D printing is used to illustrate how it can benefit manufacturing. 3D printing allows people to model up their ideas with free or inexpensive software and hardware, and make exactly what they want. It could lead to more people being involved in the manufacturing process and having a collective amount of money rather than it being accrued to the top. T...
Real Estate: ”Interest rate hikes” for home buyers with good credit
May 09, 2023 11:35 - 10 minutes - 10.1 MBSummary Notes: The Biden administration has recently announced a move to lower fees for borrowers with lower credit scores, which has been sensationalized by the media. This move is not raising rates on good credit borrowers, but rather reducing fees for those with lower credit scores. According to a report by the Urban Institute, lower fees could help increase access to credit for borrowers with lower credit scores and improve the overall health of the mortgage market. However, some exper...
Replay: How to deal with people acting funny as your wealth grows
May 08, 2023 11:58 - 15 minutes - 14.2 MBSummary notes: Everyone processes change at different rates of acceptance. As wealth grows in our life, people in our life might project their relationship with wealth onto you and it can change the dynamic of your relationship for a time period...especially if they have a negative relationship with money. Don't let it get you down. Understand it for what it is energetically. It's not about you, it's about them. Give them grace and time to adjust. Negative energy can only survive i...
Wealth Mindset: The Universal Algorithm of Money (and Life)
May 05, 2023 17:34 - 14 minutes - 13.6 MBSummary Notes: Before scientists understood gravity and electricity, it seemed like magic, but what we call magic is just science (a process) we do not understand. The algorithm of the universe operates on feelings, which is the same as belief, and that what we feel to be true gives birth to our experience. Our Emotions guide the chemicals that flow through our body. As we learn to be in Harmony with our natural state of positive emotions, it improves the flow of chemicals through our b...
Business: Insights from studying Apple Computer as a start up
May 04, 2023 19:57 - 8 minutes - 8.15 MBSummary notes: This is part 1 of a 4 part series where Alison Reiff-Martin CPA and Phillip Washington, Jr. discuss their insights on the company Apple starting in the Start up Phase to Apple’s current phase after it reinvented itself. Steve Jobs was the founder of Apple was founded in 1976 and achieved profitability relatively early. Steve Jobs was relentless in his pursuit of perfectionism, understanding what customers wanted before they even knew they wanted it and delivering a deli...
Innovation: The future of manufacturing
May 03, 2023 22:27 - 11 minutes - 15.9 MBSummary notes: David Jones is 34 years old from Jonesborough, Arkansas. He attended the University of Arkansas in Fayeville for college and studied industrial engineering. He originally wanted to design prosthetic limbs but changed his mind and decided to study industrial engineering because of its prestige. During college he got a couple of internships in an industrial setting and discovered that he enjoyed working with tangible things. He worked at Frito Lay's largest plant in the world a...
Investing: Deflation trends towards abundance
May 02, 2023 11:57 - 16 minutes - 15.2 MBSummary notes: This episode discusses the concept of deflation. Deflation runs counter to the current world's banking system that runs on inflation. The book "The Price of Tomorrow" by Jeff Booth explains that deflation is a good thing because it means the cost of living is going down over time. Technology is a manifestation of our understanding of the laws of the universe and as our knowledge of those laws expand, it should lower the cost of things. However, humans build their value struc...
Investing: Why banks keep failing in this environment
May 01, 2023 20:14 - 10 minutes - 9.95 MBSummary notes: The current financial system is a fractional reserve banking system, which means banks lend out more money than it has in its reserves. If customers withdraw their money all at once, banks cannot cover the amount owed. With fears of financial instability in the banking system, wealthy people (who are aware of the banking system) are moving their money to too-big-to-fail institutions to protect it along with a slow drain of money from the banking system to alternative assets ...
Investing: Buying Louis Vuitton as a bet on NFTs
April 28, 2023 12:19 - 10 minutes - 9.57 MBSummary Notes: There are so many ways to express investment trends. Phillip thinks of investing in NFTs like investing in culture. The digital culture in essence will be no different than the culture we understand in the physical world. It will just be express different. The idea is that strong brands from the physical world, will inevitably realize the profits in the digital world where their IP and Brand will value at a whole new level for generations to come. Join the WBMS N...
Business: Embracing technology in your business
April 27, 2023 11:48 - 6 minutes - 6.62 MBSummary notes: Integrating technology into your practice can help you streamline processes and make your work more efficient. There are various types of technology that can be integrated into your practice, such as software for financial planning, budgeting, and project management, etc. It’s important to keep up with the latest developments in technology in order to stay competitive while also having processes set up to protect company and customer data. Timestamps 0:01:11 Conversati...
Investing: Emotional Intelligence is really all you need in investing
April 26, 2023 17:05 - 11 minutes - 10.7 MBSummary notes: This episode stresses the importance of emotional intelligence in investing. It is explained that emotional intelligence is more important than intellect when it comes to investing, and understanding one's emotions and mastering them is essential. The concept of clarity versus confusion is discussed, emphasizing the importance of making decisions based on emotional clarity rather than just intellect. Ultimately, combining emotional intelligence with intellect leads to easier...
Real Estate: Building your real estate empire in the new world
April 25, 2023 14:32 - 12 minutes - 11.7 MBSummary notes: Robert and Phillip discussed the potential of creating a real estate firm that would focus on tokenizing real estate around the world. They talked about the amount of money that could be made if people were to tokenize their privately owned real estate. It could be possible for regular homes in desirable areas like the Dallas Metroplex to be worth $5 million or more if tokenized. The conversation then shifted to the potential of tokenizing real estate and how it could impact...
Media: The intersection of NFTs and podcasting
April 24, 2023 11:32 - 13 minutes - 12.7 MBSummary notes: This episode discusses the potential of using Non-Fungible Tokens (NFTs) in the podcasting industry. Derek Johns and Phillip talked about how NFTs could be used to monetize a podcast in the form of digital collectibles or rewards for a podcast audience. They also discussed the potential of NFTs in the podcasting industry, including the ability to create exclusive content, increase listener engagement, and easily track ownership and usage of podcast content. The conversation a...
Investing: Inflation is good for the future, not so much for the past
April 21, 2023 19:52 - 13 minutes - 12.6 MBSummary notes: Inflation can be beneficial for the economy and investments if managed properly, but it is important to be aware of the risks that come with it. It is a necessary step for evolution, sweeping away the old to make room for the new. Those who are at the forefront of new ideas and technology experience deflation, while those stuck in outdated methods suffer the most. To avoid the negative effects of inflation, people may want to invest in things that are outrunning the future a...
Business: Using ChatGPT in accounting
April 20, 2023 11:55 - 7 minutes - 7.14 MBSummary notes: GPT(General Purpose Technology) is a technology-enabled method that automates processes and analyzes data faster and more accurately, leading to improved accuracy, reduced costs, and increased efficiency. By utilizing GPT, organizations can make more informed decisions. The use of Chat GPT in accounting, and tax work, can improve customer service experience, but it is important to be careful to ask thoughtful questions and double check the accuracy of its answers. Power...
Finance 101: The nuts and bolts of how our economic system is financed
April 19, 2023 11:40 - 18 minutes - 17.6 MBSummary notes: The financial system is based on faith (credit) in assets, such as treasury bills, gold, stocks, real estate, etc. . Wealthy individuals and institutions rely on those assets on their balance sheets for getting favorable terms on money they borrow to invest in their businesses. Treasury bills are the foundation of the dollar-based banking system. Banks can lend out more than they have, creating credit. Hedge fund managers use futures contracts to control multiples of their i...
Real Estate: Turning homes into NFTs on the blockchain
April 18, 2023 11:30 - 12 minutes - 11.5 MBSummary notes: Tokenization is the process of turning an asset into a digital representation that can be traded on the blockchain. The tokenization of real estate property can potentially revolutionize the real estate industry. Companies used to be privately owned only before the stock market. The stock market idea democratized ownership through financial markets. The title companies of the future could become like investment banks and realtors could become like wealth managers as peopl...
Media: The economics of podcasting
April 17, 2023 11:30 - 15 minutes - 14.1 MBSummary notes: Philip Washington Jr. and Derek Johns discuss the economics of podcasting and how it can lead to future millionaires and billionaires. They also discuss the history of media and how it has evolved over time. The early US media industry sort of started with the fringe creators of Hollywood, then moved on to TV news, radio, cable blogs, video, and now podcasting. Despite contrary belief, podcasting is not as saturated as people think because many podcasts don't last and ...
Investing: The Lost Decades and what to do about the one around the corner
April 14, 2023 16:52 - 13 minutes - 12.4 MBSummary notes: The US stock market has had about 3 lost decades in the last 100 years and this next decade is likely the next one. Lost decades happen because of the collective emotional state of "The Market". Investors can choose to passively invest their money in the market and be subject to the results of the emotional state of the market or they can choose to manage be mindful of place their resources only in places where the dominant emotional state is faith in the future. Po...
Business: How property and casualty losses affect the bottom line of a business
April 13, 2023 17:00 - 7 minutes - 7.55 MBSummary notes: Casualty losses can actually be deducted from income tax, but how it depends on the specific situation and the circumstances of the loss. A casualty loss can include any damage or theft of a business’s property, such as a tornado, car accident, or theft. It’s important to keep detailed records of losses in order to qualify for deduction. What’s also important is to pay close attention to all the tax implications of the losses and factor those losses into your overall busi...
Wealth Mindset: Don’t chase the desires of your heart...Attracting them feels much easier
April 12, 2023 15:04 - 7 minutes - 6.79 MBSummary notes: Not chasing relationships goes against the advice offered in many of the business books we read. Jay Z and LeBron James are examples of people who have achieved success by utilizing their talents, resources, and relationships within their circle of friends and family, rather than trying to chase relationships with wealthy people. Money is attracted to money, and having the right kind of mental attitude draws like-minded people and resources to you. Instead of chasing rel...
Real Estate: China, Russia, and OPEC’s impact on the Texas Real Estate Market
April 11, 2023 12:32 - 13 minutes - 13 MBSummary notes: The world is transitioning from a single power to a distributed power. This means that instead of one power controlling the world, there will be multiple powers controlling different aspects of the world. This affects the American economy because the US dollar is the global currency for trade, and the US has been using manipulation tactics to control other countries first with the military and most recently with the monetary system. This is no longer effective due to the em...
Innovation: The importance of vision in podcasting
April 10, 2023 19:44 - 10 minutes - 10.1 MBSummary notes: Having a clear vision and an understanding of what you want to accomplish with your podcast is the key to success. Other important keys involve building solid relationships, being consistent, and focusing on improving the quality of your content. Derek Johns shared his experience of starting his podcast and the struggles he faced in the beginning. He also stressed the importance of staying true to yourself and your vision, despite the noise and criticism you may face. Time...
Wealth Mindset: Removing stress from the wealth building process
April 07, 2023 13:15 - 13 minutes - 12.8 MBSummary notes: Stress is felt when our dreams and feelings (beliefs) are not in harmony. Said a different way, stress is an indicator that we are focused too much on what is and not enough on the Beautiful Vision of our dream moving from our Imagination into Reality. Powered by Stone Hill Wealth Management https://stonehillwealthmanagement.com/
Business: When is the right time to stop doing your own taxes?
April 06, 2023 22:22 - 9 minutes - 9.11 MBSummary notes: There are times in business where we wear all the hats because that's where we are in the stage of our growth. Then there are times when it's time to start delegating because every minute you spend doing work that you could pay someone else to do is costing the company money. Alison and Phillip discuss ways to know when it's time to hire a team for your business finances. Powered by ReiffMartin CPA and Stone Hill Wealth Management https://www.reiffmartincpa.com/...
Wealth Mindset: How to make success in wealth building feel easy
April 05, 2023 15:32 - 11 minutes - 10.6 MBSummary notes: Whatever a person sows (believes), so shall they reap (receive). If we believe we are worthy of wealthy, it won't make it into our experience. If we believe the process has to be a struggle and hard, then it will be just that. All rules of life are made up and/or accepted in our own mind. We have the free will to choose what we decide to believe. Powered by Stone Hill Wealth Management https://stonehillwealthmanagement.com/
Real Estate: The benefits of hiring a real estate professional
April 04, 2023 22:04 - 11 minutes - 10.6 MBSummary notes: Most business transactions are relatively simple from a technical standpoint. Meaning, we have buyers and we have sellers that want to exchange money for an asset, good, or service. Markets are relatively developed these days so it's not that difficult to determine the value of the asset, good, or service being exchanged. Because of that some people are questioning the need for middle person in between transactions. A middle person can be considered a medium, an in bet...
Building a podcast network around uplifting men
April 03, 2023 20:14 - 12 minutes - 11.7 MBSummary notes: Every generation creates new media outlets for telling stories to continue to evolve and influence mankind. Podcasting is one of the new fast growing media outlets of the digital age. Phillip and guest Derek Johns, CEO of the Dear Son Podcast Network, discuss how Derek decided to get into podcasting, his why, and how they see the future of the industry. Powered by Stone Hill Wealth Management https://stonehillwealthmanagement.com/ https://thedearsonpodcast.com/
Investing: Passive index investing is becoming much less attractive
April 01, 2023 00:24 - 18 minutes - 16.8 MBSummary notes: Passive index investing is a low cost way to package up old dying ideas. The problem with that is most of the upside investing comes from participating in the. new economic ideas that shape the future. Powered by Stone Hill Wealth Management https://stonehillwealthmanagement.com/ Phillip Washington, Jr. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purch...
Business: Being intentional about the investments you make in your business
March 30, 2023 11:20 - 11 minutes - 10.4 MBSummary notes: Managing expenses is important if you are looking to increase cash flow. You can't cut your way to prosperity, which suggests that one cannot grow a business if they are spending too much time worrying about expenses. Business owners should have a budget based on historical trends, and should look back at their spending habits to ensure they are keeping their employees happy but not overspending. Technology can help to drive down costs, and business owners can look for eff...
Investing: The Root Cause of Big Market Movements
March 29, 2023 15:13 - 13 minutes - 12.6 MBSummary notes: A big belief is that markets move based on earnings and cash flow. That's only half the story after the move has already gotten started and everyone is starting to notice the move. The origin of the move is a shift in Perspective. The market represents the collective mind of all participants. Just like we change our minds about things individually, so does the market. That shift in Perspective is where Big Money hangs out. Powered by Stone Hill Wealth Management ...
Real Estate: Why HOAs can make or break the home values in a community
March 28, 2023 16:04 - 9 minutes - 9.2 MBSummary notes: Not every nice neighborhood has an HOA, but they are common and highly beneficial. An HOA is a nonprofit organization of homeowners that governs a certain residential area and enforces rules for things like landscaping, noise, and other community standards. HOAs also provide a range of services, including maintenance and access to amenities like swimming pools, clubhouses, and playgrounds. Additionally, HOAs provide additional security, since their presence can deter crime. A...
The New Corporate Structure for Organizations in the Digital Age
March 27, 2023 14:01 - 8 minutes - 8.07 MBSummary notes: A DAO (decentralized autonomous organization) is a solution on the blockchain that provides an automated, trustless system for managing decisions, funds, and activities. It operates without requiring human intervention or a centralized authority, giving users complete control over their assets and activities. The system is trustless and secure, making it ideal for managing assets, funds, and activities. Additionally, it can provide transparency and accountability, as all tran...
Investing: A short and simple explanation of the current (2023) financial crisis
March 24, 2023 19:50 - 13 minutes - 12.2 MBSummary notes: Trust is the foundation of every successful financial system that has existed in history. While the trust centers have manifested in many forms (elders, goldsmiths, banks, insurance companies, fund managers, wealth managers, etc), they have always been there. When trust in the system is eroded for whatever reason, the money stops flowing the way it should. Think of it like a stream that gets blocked and causes all kinds of havoc down stream in the "city" (economy). Th...
Why the most successful business owners are masters of cash-flow
March 23, 2023 11:31 - 13 minutes - 12.8 MBSummary notes: In this episode, Phillip and Alison discussed cash flow management. The two discuss the importance of cash flow management and how it can help build wealth. Cash flow management involves understanding the sources and uses of money, helps with budgeting, setting goals, and monitoring progress. When done properly, it can help individuals become financially secure and build wealth over time. Timestamps 0:01:18 Cash Flow Management: A Conversation with CPA 0:03:04 Cash Flow ...
Investing: What is a Superchain (on the blockchain)?
March 22, 2023 14:46 - 10 minutes - 10.3 MBSummary notes: This episode covers the idea that everything is an information network, including money and economies. The blockchain is an information network that eliminates unnecessary intermediaries. The goal of evolution is to reduce resistance and increase flow so that there is no wasted energy. Superblockchains, which are networks of blockchains that link different blockchains that are being built to solve different problems, like owning our own data and getting paid for it, and cre...
Real Estate: New technology for selling your home faster
March 21, 2023 14:08 - 9 minutes - 9.2 MBSummary notes: Technology such as virtual tours and 3D walk-throughs can be used to help people get a better idea of the home and what it has to offer, while also simplifying the process of buying and selling a home. Additionally, using technology to market a home can potentially help to attract more potential buyers, increasing the chances of a successful sale. Zillow Group has recently purchased showing technology, marketing technology, and data. This includes the Idx feed, which provide...
Wealth Mindset: The New Age of Financial Freedom and Enlightenment
March 20, 2023 16:32 - 13 minutes - 12.7 MBSummary notes: A wise Spiritual teacher (Abraham Hicks) says often, "Most people are looking for love in all the wrong places." Meaning, they are seeking externally want they don't have internally. Love flows from our internal world (ourself) to our external world (to others who reflect back that love). Same with wealth. We must feel wealthy internally first, before we can have it appear in abundance and with ease externally. All other attempts require manipulation and force which br...
Investing: New NFTs Being Built on Bitcoin
March 17, 2023 19:51 - 6 minutes - 6.35 MBSummary Notes: Phillip discusses Non-fungible tokens (NFTs) built on top of Bitcoin, known as Ordinals. NFTs are used to represent digital assets and can be bought and sold by anyone. NFTs, or Non-Fungible Tokens, are like applications on the phone, with Android and Apple having their own apps. Timestamps 0:00:01 Exploring Ordinals: An Introduction to NFTs Built on Bitcoin 0:01:13 Exploring NFTs and Ordinals on the Bitcoin and Ethereum Blockchains Powered by Stone Hill Wealth Mana...
Business: How to improve your financial focus as a business owner
March 16, 2023 15:04 - 15 minutes - 14.8 MBSummary notes: Alison and Phillip discussed developing KPIs in order to better track the success of the business. Alison suggested performing frequent business and financial analysis which involves looking at financial ratios such as profit margin, employee turnover, customer turnover, and revenue growth. KPIs are important in order to stay in control and have a better understanding of your business. Timestamps 0:03:02 KPIs as a North Star: A Conversation on Measuring Performance ...
Investing: The Benefits of Automated Rules-Based Financial Systems
March 15, 2023 13:16 - 13 minutes - 13 MBSummary Notes: Money is information that is communicated through an economy. Every 50 or so years, the system gets smarter. In 1913, the Federal Reserve stepped in to create a distributed banking system. The Euro dollar banking system was outside of the US and was an informal bank network that linked the world's financial systems that started around the 1960s ish. This led to the Blockchain based financial system that was built after 2008, starting with Bitcoin. Bitcoin and Ethereum are b...
Real Estate: How wealth families buy homes
March 14, 2023 14:39 - 12 minutes - 27.5 MBSummary notes: Many real estate buyers and sellers are stuck in the mindset of what the market was like 5 or 10 years ago when they last had a transaction. Buyers and sellers should not be basing future value off of past data. The key to aligning the everyday buyer with a home that matches what they are looking for is getting to the essence of what they want which at its core is likely long-term profitability, safety, abundance, and having their children educated well. Timestamps 0:01:19...
Wealth Mindset: How to heal our relationship with Money
March 13, 2023 15:21 - 15 minutes - 14.2 MBSummary notes: Everything is energy. Energy intelligence responds to the same laws regardless of form. When we think negative thoughts about money, then we can't be equal (in Harmony) with money in our Life Experience. That relationship must be healed for more money to flow into our Experience. Powered by Stone Hill Wealth Management https://stonehillwealthmanagement.com/
Wealth Mindset: Removing mental barriers around money
March 10, 2023 19:00 - 16 minutes - 15.4 MBSummary notes: Wisdom is the fine tuning ability to look into a Universe of unlimited future possibilities and ONLY focus on the experiences that make us Feel Good. Powered by Stone Hill Wealth Management https://stonehillwealthmanagement.com/
Tax planning: IRS penalties for putting too much money into a Roth IRA
March 09, 2023 15:22 - 12 minutes - 11.8 MBSummary notes: Roth and Traditional IRAs are special trust accounts allowed by the IRS to promote financial security for Americans in their non working years later in life. To incentivize tax payers to contribute, they allow special tax benefits as long the specific rules are followed. When those rules are broken, even if accidentally, there are penalties that can add up over time. Alison and Phillip discuss those rules and penalties on this episode. Powered by ReiffMartin CPA...
Wealth Mindset: How to shorten your financial learning curve
March 08, 2023 18:14 - 19 minutes - 17.8 MBSummary notes: Our beliefs limit our understand. We are not able to understand anything outside the scope of our beliefs. Our Mind is literally closed to that idea until we open up our beliefs (Mind). Powered by Stone Hill Wealth Management https://stonehillwealthmanagement.com/
Real Estate: The Generational Shift in Buying Habits
March 07, 2023 23:02 - 10 minutes - 10.3 MBSummary notes: Interest rates affect the home buying process like never before. As interests rates swing up and down and up again, what should homebuyers do to put themselves in position to realize their dream of homeownership? Rob and Phillip discuss solutions on this episode. Powered by Robert L. Lewis at Ink Realty and Stone Hill Wealth Management https://ink-realty.com/ https://stonehillwealthmanagement.com/
Investing Opportunities around the $39 Billion CHIPs and Science Act
March 06, 2023 15:15 - 10 minutes - 10.3 MBSummary notes: The Act provides grant money for semiconductor companies to build chip manufacturing plants here Why? AI is the future and Data is the new oil. Computer chips are like neurons in the human brain. Neurons are the cells that process and transmit information through electrical, optical, and chemical signals. The more neurons (or chips) you have, the more intelligence you have access to. Right now the world mostly gets their chips mostly from Taiwan which is right next to C...
Wealth Mindset: How to change limiting beliefs about money
March 03, 2023 17:35 - 16 minutes - 15.2 MBSummary notes: We are only able to attract and keep the level of wealth we believe we deserve. The details of how it comes is not a problem we should worry about. Powered by Stone Hill Wealth Management https://stonehillwealthmanagement.com/