Wealth-Building Made Simple

Podcaster: Phillip Washington, Jr.
 
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Podcasters: Alison Reiff-Martin, CPA and Phillip Washington, Jr. 
 
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Podcaster: Phillip Washington, Jr. 
 
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Podcasters: Rob Lewis, Jr. and Phillip Washington, Jr.
 
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Podcasters: Jon Thurmond and Phillip Washington, Jr. 
 
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Podcaster: Phillip Washington, Jr. 
 
"Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years." – Warren Buffett
 
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Podcasters: Alison Reiff-Martin, CPA and Phillip Washington, Jr. 
 
A few ideas we discussed:
Converting ordinary income into investment income over time
Giving strategies
Tax loss harvesting in your investment portfolio
...and more
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Podcaster: Phillip Washington, Jr. 
 
“Uncertainty is the only certainty there is, and knowing how to live with insecurity is the only security.” – John Allen Paulos
 
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Podcasters: Robert L. Lewis, Jr. and Phillip Washington, Jr. 
 
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Podcasters: Jon Thurmond and Phillip Washington, Jr. 
 
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Podcaster: Phillip Washington, Jr. 
"People do business with people they feel they know, like, and trust." --Every successful brand building I know
 
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Podcasters: Alison Reiff-Martin, CPA and Phillip Washington, Jr. 
 
"They can't collect legal taxes from illegal money." -Al Capone
 
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Podcaster: Phillip Washington, Jr. 
 
"Retirement is when you stop living at work and start working at living."~ Anon
 
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Podcasters: Rob L Lewis, Jr. and Phillip Washington, Jr.
 
Gentrification (oxford dictionary): the process whereby the character of a poor urban area is changed by wealthier people moving in, improving housing, and attracting new businesses, typically displacing current inhabitants in the process.
 
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Podcasters: Jon Thurmond and Phillip Washington, Jr. 
 
"Insurance is one of the best ways to manage the risk of the unknown." --Wise teacher
 
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Podcaster: Phillip Washington, Jr.
“The stars will never align, and the traffic lights of life will never all be green at the same time. The universe doesn't conspire against you, but it doesn't go out of its way to line up the pins either. Conditions are never perfect. 'Someday' is a disease that will take your dreams to the grave with you. Pro-and-con lists are just as bad. If it's important to you and you want to do it 'eventually,' just do it and correct course along the way.” - Tim Ferriss
 
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Podcasters: Alison Reiff-Martin, CPA and Phillip Washington, Jr. 
 
"Optimism is the only realism." -Nick Murray
 
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Podcaster: Phillip Washington, Jr. 
 
"Being in a positive state of mind is more important than you might think as the mind cannot be creative in a negative state."- Joe Hinchliffe
 
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Podcasters: Robert Lewis, Jr. and Phillip Washington, Jr. 
 
“Coming home is one of the most beautiful things.” – Andre Rieu
 
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Podcasters: Jon Thurmond
 
We know that if we buy our bread from the gas station convenient store we will overpay.  The same rules apply when buying your life insurance.  Buy your insurance from an insurance company that specializes in life insurance.  It's that simple according to Jon Thurmond.  
 
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Podcasters: Phillip Washington, Jr. 
 
"Love is the most durable power in the world. This creative force is the most potent instrument available in mankind's quest for peace and security." -Martin Luther King, Jr. 
 
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Podcasters: Alison Reiff-Martin, CPA and Phillip Washington, Jr. 
 
“People are an organization's most valuable asset and the key to its success." - Dave Bookbinder
 
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Podcaster: Phillip Washington, Jr. 
 
"I don't look to jump over seven-foot bars; I look around for one-foot bars that I can step over." — Warren Buffett
 
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Podcasters: Robert Lewis, Jr. and Phillip Washington, Jr. 
 
“Owning a home is a keystone of wealth…both financial affluence and emotional security.” --Suze Orman
 
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Podcasters: Jon Thurmond and Phillip Washington, Jr. 
 
"Begin with the end in mind." --Stephen Covey
 
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Podcaster: Phillip Washington, Jr. 
 
"Faith is taking the first step even when you don't see the whole staircase." -Martin Luther King, Jr.
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Podcasters: Steve Cosio and Phillip Washington, Jr.
“A lot of people with high IQs are terrible investors because they’ve got terrible temperaments. You need to keep raw, irrational emotion under control.” — Charlie Munger
 
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Podcasters: Steve Cosio and Phillip Washington, Jr. 
 
The power of wealth is not in the symbol (the asset).  The power is in the mindset necessary to attract and keep in orbit all the wealth we desire in our hearts.  
 
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Podcasters: Robert Lewis, Jr. and Phillip Washington, Jr.
 
Some people find the process of listing their primary property stressful.  Imagine the potential stress in the process of listing a property with tenants. Rob shares some great ideas on removing stress from that process through proper preparation.  
 
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Podcasters: Jon Thurmond and Phillip Washington, Jr. 
 
Income replacement is one pile of money you will need retirement.  The other big pile of money is for health care needs which include medical expenses and possibly long term care. 
 
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Podcaster: Phillip Washington, Jr.
 
You get recessions, you have stock market declines. If you don’t understand that’s going to happen, then you’re not ready, you won’t do well in the markets. – Peter Lynch
 
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Podcasters: Alison Reiff-Martin CPA and Phillip Washington, Jr. 
 
One of the biggest problems (if not the biggest problem) for business owners right now is attracting and retaining good talent.  It's always been a problem businesses have needed to solve, but with so many help wanted signs for local businesses it seems to at least in the short term gotten worse.  Alison shares her thoughts on how business owners can think about solving those problems in today's economic environment.  
 
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Podcasters: Jason Grimes and Phillip Washington, Jr.
 
Many families who purchase $1M+ homes are in a position to buy that size home because they have been wise with money.  Jason shares a strategy smart buyers use to not put as much of their cash down on a home which frees that money up to keep working in potentially higher growth investments.  
 
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Podcasters: Robert L Lewis, Jr. and Phillip Washington, Jr. 
 
So you're ready to sell your home.  Great.  What's the first step? Rob shares his thoughts on what steps homeowners can take to get their home ready for a sale.  
 
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Podcasters: Jon Thurmond and Phillip Washington, Jr. 
 
Financial advice is very specific to where each person is in their wealth-building journey.  This is what Jon shares today on the podcast. 
 
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Podcasters: Phillip Washington, Jr. 
 
"I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful." — Warren Buffett
 
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Podcasters: Alison Reiff-Martin, CPA and Phillip Washington, Jr.
 
Rising costs have a potential to blow holes in plans if the plan is not periodically reviewed and adjusted. Alison shares her thoughts on a few things business owners should think about reviewing in their plan to make sure they stay on track with their business exit strategy.  
 
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Podcasters: Jason Grimes and Phillip Washington, Jr. 
 
The interest rate you pay is only one input into whether to buy real estate or not.  It's not even the most important one in Jason's book.  There's a different between building equity and what interest rate you pay.  They don't necessarily correlate.  
 
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Podcasters: Robert L Lewis, Jr. and Phillip Washington, Jr. 
 
The real estate market can be your slave or your master.  Only you get to decide.  Rob shares his thoughts on how to allow the market to serve you in this current economic environment.  
 
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Podcasters: Jon Thurmond and Phillip Washington, Jr.
 
Business partners join together their resources to serve the community in some business capacity.  
What happens if one partner can no longer work in the business?  Where does the other partner (s) find the cash to buy them?
This is what Jon and Phillip discuss today. 
 
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Podcaster: Phillip Washington, Jr. 
 
"There will be bear markets about twice every 10 years and recessions about twice every 10 or 12 years but nobody has been able to predict them reliably. So the best thing to do is to buy when shares are thoroughly depressed and that means when other people are selling." -John Templeton
 
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Podcasters: Alison Reiff-Martin, CPA and Phillip Washington, Jr. 
 
“Life’s persistent and most urgent question is “What are you doing for others?”
–Martin Luther King Jr.
 
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Podcasters: Jason Grimes and Phillip Washington, Jr. 
 
"Millionaires and billionaires are made in recessions." -Jason Grimes
 
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Podcasters: Robert L Lewis, Jr. and Phillip Washington, Jr. 
 
The market seemed to change overnight and buyers and sellers may want to adjust to the new rules to gain an advantage.  Rob shares his thoughts and some ideas on how to get that advantage.  
 
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Podcasters: Jon Thurmond and Phillip Washington, Jr. 
 
If you have a term life insurance policy, you probably get emails or letters in the mail asking if you want to convert your term.  Jon explains what that means and how his clients decide when it's time to convert their term insurance. 
 
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Podcasters: Phillip Washington, Jr. 
 
Don't be a competitor.  Be a Creator.  That small difference will significantly enhance your ability to manage large sums of money with little to no stress and tons of peace of mind.  
 
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Podcasters: Alison Reiff-Martin, CPA and Phillip Washington, Jr
 
Planning using charitable remainder trusts is a very effective way to reduce taxes, protect assets from creditors, create an income stream for yourself, while leaving money to your favorite charitable organization at your death.  
 
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Podcasters: Jason Grimes and Phillip Washington, Jr. 
 
With debt you are the servant.  With leverage you are the master.  
 
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Podcasters: Steve Cosio and Phillip Washington, Jr.
 
What do Jeff Bezos, Elon Musk, Bill Gates, John D Rockefeller, Henry Ford, and Andrew Carnegie all have in common? They all have faith in the future.  It's a requirement to be a successful investor.  No short cuts around it.
 
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Podcaster: Phillip Washington, Jr. 
 
"Mo' money, mo' problems" is a classic by the late great philosopher Christopher Wallace (RIH).  For some people that's true, for other's no so much in my experience as a wealth manager advising wealthy families. 
 
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