Wealth Formula by Buck Joffrey
430 episodes - English - Latest episode: 18 days ago - ★★★★★ - 401 ratingsFinancial Education and Entrepreneurship for Professionals
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Episodes
421: Turn Your Empty Space into a Self-Storage Business
April 07, 2024 14:07 - 36 minutes - 66.6 MBAs 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.
420: Realtors Make Legal Settlement: Changes Made to What YOU Pay!
March 31, 2024 12:27 - 35 minutes - 65.2 MBThe 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.
419: The Ins and Outs of ATM Investing
March 24, 2024 12:31 - 35 minutes - 66 MBLast 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.
418: Using Math to Your Advantage
March 17, 2024 13:37 - 32 minutes - 59.1 MBIn 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.
417: Market Update from a Former Sovereign Wealth Fund Manager
March 09, 2024 23:48 - 53 minutes - 97.1 MBI 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.
416: Artificial Intelligence: The Mother of All Technologies
March 03, 2024 13:11 - 33 minutes - 61.3 MBIn 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.
415: Tax and Return: Judge Glock
February 25, 2024 23:53 - 36 minutes - 67.3 MB“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.
414: The Safest Double Digit Returning Investment in History?
February 18, 2024 13:32 - 53 minutes - 98.3 MBWhen 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.
413: Social Security Scams and “Retirement” Planning
February 11, 2024 02:59 - 40 minutes - 73.5 MBRetirement 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.
412: Dual Citizenship: Plan B?
February 04, 2024 15:11 - 36 minutes - 68.2 MBThe 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.
411: Heads I Win Tales You Lose: The U.S. Banking System
January 28, 2024 12:05 - 38 minutes - 70 MBThe 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.
410: Is Ray Dalio Really Who He Says He Is?
January 21, 2024 13:38 - 38 minutes - 71.1 MBMy 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.
409: You Will Own Nothing and You Will Like It: Carol Roth
January 14, 2024 11:44 - 31 minutes - 57.5 MBAs 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.
408: Boring is Good: The Case for Self Storage
January 08, 2024 01:35 - 39 minutes - 72.8 MBFor 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.
407: New Year, New Business?
December 31, 2023 12:00 - 45 minutes - 83.1 MBWealth 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.
406: Wealth Without Wall Street
December 24, 2023 13:05 - 49 minutes - 90.4 MBWhen 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.
405: Another Perspective with the Cash Flow Ninja
December 18, 2023 00:52 - 1 hour - 111 MBDuring 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.
404: An Update From AHP Servicing With Jorge Newberry
December 14, 2023 00:58 - 46 minutes - 85 MBIn 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.
403: The Tax Case in the Supreme Court That You Must Know About
December 10, 2023 12:23 - 36 minutes - 67 MBYou 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.
402: Investing with Benefits: Real Stories from Wealth Formula Nation
December 03, 2023 14:08 - 1 hour - 124 MBAs 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.
401: Real Estate Market Trends
November 26, 2023 12:00 - 31 minutes - 58.3 MBA lot has happened over the past year in real estate. It goes to show how quickly things can change. Unless you have been living in a cave, you know that interest rates went way up really quickly. When that happens, housing typically goes down in value significantly. Oddly enough, in much of the country, […] The post 401: Real Estate Market Trends appeared first on Wealth Formula.
400: Trying Not to Run Out of Gas in Your Tesla
November 19, 2023 13:05 - 45 minutes - 83.9 MBWhen 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.
399: Tax Mitigation Strategies in Real Estate
November 12, 2023 12:31 - 50 minutes - 91.6 MBIt’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.
398: There’s More to Alts than Real Estate
November 05, 2023 19:32 - 49 minutes - 68.4 MBThe 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.
397: Prenups and Postnups: Marital Finance 101
October 29, 2023 15:37 - 37 minutes - 51.9 MBNo 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.
396: Preparing for 2010
October 22, 2023 23:27 - 35 minutes - 40.4 MBThe 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.
395: Tax Free Wealth and the Zombie Apocalypse
October 16, 2023 06:42 - 40 minutes - 46.6 MBI’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.
394: Beyond Real Estate: How to Cash Flow with Stocks
October 08, 2023 20:29 - 41 minutes - 48 MBMy 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.
393:Economic Impact of Emerging Technologies
October 02, 2023 14:24 - 35 minutes - 38.1 MBThe post 393:Economic Impact of Emerging Technologies appeared first on Wealth Formula.
392: Back to School: Tax Mitigation
September 27, 2023 07:12 - 33 minutes - 38.6 MBThe post 392: Back to School: Tax Mitigation appeared first on Wealth Formula.
391: Hedera/HBAR: My Asymmetric Dream
September 25, 2023 11:27 - 1 hour - 68.9 MBLast 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.
390: Back to School: Asymmetric Risk Investing
September 20, 2023 08:00 - 15 minutes - 14.2 MBThe post 390: Back to School: Asymmetric Risk Investing appeared first on Wealth Formula.
389: Back to School: Maybe This is All You Need?
September 17, 2023 07:00 - 58 minutes - 53.2 MBSo 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.
388: Back to School: Buck’s Investment Philosophy
September 13, 2023 08:00 - 32 minutes - 29.8 MBThe post 388: Back to School: Buck’s Investment Philosophy appeared first on Wealth Formula.
387: Lessons from a Sovereign Wealth Fund Manager
September 10, 2023 07:00 - 43 minutes - 39.4 MBZulfe 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.
386: Back to School: Estate Planning
September 06, 2023 09:00 - 28 minutes - 25.8 MBThe post 386: Back to School: Estate Planning appeared first on Wealth Formula.
385: Should you buy Silver?
September 03, 2023 07:00 - 29 minutes - 26.9 MBThose 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.
384: High Mortgage Rates Does Not Equal Housing Crash
August 30, 2023 09:00 - 36 minutes - 33.8 MBI 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.
383: Back To School: Asset Protection
August 27, 2023 07:00 - 34 minutes - 31.2 MBI 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.
382: Should You Consider Buying a Franchise?
August 20, 2023 07:00 - 42 minutes - 39.2 MBI 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.
381: Clean Energy Solves Only Part of the Problem
August 13, 2023 07:00 - 31 minutes - 28.9 MBIt 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.
380: Investing Through the Eyes of a Fighter Pilot
August 06, 2023 07:00 - 29 minutes - 27.1 MBIt 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.
379: Do Human Cycles Drive Economic Cycles?
July 30, 2023 07:00 - 41 minutes - 38 MBI 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.
Bonus Episode: Breakthrough in Early Cancer Detection?
July 24, 2023 23:39 - 26 minutes - 24.3 MBThe post Bonus Episode: Breakthrough in Early Cancer Detection? appeared first on Wealth Formula.
378: Forcing Schools to Teach Financial Literacy
July 23, 2023 07:00 - 32 minutes - 30.2 MBWhy 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.
377: Why is Oil Still Expensive Despite Clean Energy?
July 16, 2023 07:00 - 40 minutes - 37.4 MBThis 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.
376: What Big Data Has to Say about Home Prices
July 09, 2023 07:00 - 31 minutes - 28.7 MBWhat 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.
375: Stalking Economists for Answers: Richard Duncan
July 02, 2023 07:00 - 55 minutes - 50.7 MBLast 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.
374: Trying to Understand a Schizophrenic Economy
June 25, 2023 07:00 - 38 minutes - 35.5 MBI 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.
373: The Investment that Keeps on Giving (Even When You Die)
June 18, 2023 07:00 - 59 minutes - 54.7 MBThere 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.