Wealth-Building Made Simple
Smart investors hunt for those super special investments that could turn a small amount of money, like $1,000, into a HUGE pile of cash, like $100,000, in just ten years! There’s a bunch of them out there, and this podcast is all about teaching you how to spot them.
Listen on:
Episodes
Monday Apr 29, 2024
Monday Apr 29, 2024
Key Takeaways:
Bitcoin is proposed as an ideal savings medium that offers appreciation in value and security against manipulation.
The episode parallels the stability of savings-oriented systems with the imbalance of economies rooted in easily-inflatable credit.
Comparative insights reveal Bitcoin's superior performance against traditional assets when measuring the purchasing power of oil over the past decade.
The gradual but inevitable financial system shift is emphasized as governments and wealth funds recognize Bitcoin's potential.
The discussion outlines a comprehensive investment strategy centered around Bitcoin, supplemented by selected stocks and real estate.
Chapters:
Timestamp Summary
0:01:12 The importance of savings and its role in a proper financial system.
0:02:35 The flaws in the current financial system built on credit.
0:04:09 The need for constants and building on knowledge in finance.
0:06:08 The author’s personal investment strategy with bitcoin and companies.
0:08:10 The concept of savings from a government standpoint.
0:10:14 Comparing the value of bitcoin, S&P 500, and gold as savings options.
0:13:17 Bitcoin bought 91 times more oil per dollar invested.
0:13:57 There is no one at the top controlling everything.
0:15:12 Larry Fink is a powerful money manager in finance.
0:16:19 Rich people want a base currency that can’t be manipulated.
0:17:33 Rich people don’t care about the technical details of crypto.
0:18:42 Rich people want to put their wealth in a decentralized system.
0:19:07 Rich people just want to know if their money is safe.
0:19:40 Investors are rewarded for their patience and information edge.
0:20:25 Bitcoin is the core of the portfolio and benchmark for allocation.
0:21:28 Real estate and stocks should not be dismissed.
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Friday Apr 26, 2024
Friday Apr 26, 2024
Key Takeaways:
Having a robust treasury function in your business can be critical for sustainability and growth, especially in a fluctuating economy.
Businesses should ideally maintain at least three to six months of operating expenses in cash as a buffer against market challenges.
Investment in assets like real estate or conservative stock portfolios can help businesses outpace inflation and build wealth over time.
The depreciating currency rate poses unique challenges for American small businesses, highlighting the need for strategic financial planning.
Long-term thinking and planning can position a business to capitalize on opportunities when market conditions cause competitors to falter.
Chapters:
Timestamp Summary
0:00:32 Performance is not indicative of future performance.
0:01:03 Importance of having a treasury or focusing on the treasury function in business.
0:01:57 Business is getting harder due to inflation and the need for a sustainable growth strategy.
0:04:17 Start with shoring up emergency cash and then consider other investments.
0:06:08 Currency depreciation and the need for strategic cash flow management.
0:07:38 CPA’s analysis on cash allocation for clients.
0:08:52 Planning for financial stability and turning April showers into May flowers.
0:09:39 Contact information for more information.
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Thank you for checking out our free content on financial planning, the wealth mindset, and investing in innovation. If you've found value in our blog posts, I invite you to take your knowledge and commitment to the next level. Sign up for our premium paid newsletter today and receive daily insights and expert analysis directly in your inbox. Stay ahead of the curve and unlock the secrets to financial success. Don't miss out on this opportunity to deepen your understanding and gain an edge in the world of finance. Join our premium community now and embark on a journey towards financial abundance and investment excellence. Sign up today and let's grow together!
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Monday Apr 22, 2024
Monday Apr 22, 2024
Key Takeaways:
Understanding historical and modern stores of value is crucial for making educated investments that span across space and time.
The best long-term investments are often in scarce assets that are resistant to laws, violence, manipulation, and collusion.
Rich individuals often transition profits from short-term, innovative ventures into more stable, hard currencies to preserve wealth.
Bitcoin presents a new paradigm as a liquid and secure store of value, challenging traditional assets with its fixed supply.
The ever-changing nature of finance requires adaptability and foresight, emphasizing that 'stability' in financial terms is largely illusory.
Chapters:
Timestamp Summary
0:00:00 Introduction and sponsorship messages
0:01:05 Finance is changing and those who don’t adapt will struggle
0:03:11 The challenge of storing value across space and time
0:05:27 The role of laws, violence, manipulation, and collusion in propping up value
0:06:45 The role of gold as a store of value
0:09:01 Borrowing from protected assets to invest in new ventures
0:10:16 The importance of saving excess money in hard currencies
0:11:29 Planning for the end of a business venture and converting equity to hard assets
0:11:59 Summary and conclusion
0:12:29 What’s the next version of innovation?
0:13:02 Investing in short term: being creative and productive
0:13:32 Converting profit to hard currency: gold, real estate, or bitcoin
0:14:28 Advantages and disadvantages of gold and real estate
0:15:04 Bitcoin: limited supply, liquidity, and financial markets
0:15:45 Bitcoin’s transformational potential
0:17:34 The system working towards abundance
0:18:14 Stability is a fallacy, move with the times
0:19:25 Don’t worry about inflation and job security, move with the times
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Thank you for checking out our free content on financial planning, the wealth mindset, and investing in innovation. If you've found value in our blog posts, I invite you to take your knowledge and commitment to the next level. Sign up for our premium paid newsletter today and receive daily insights and expert analysis directly in your inbox. Stay ahead of the curve and unlock the secrets to financial success. Don't miss out on this opportunity to deepen your understanding and gain an edge in the world of finance. Join our premium community now and embark on a journey towards financial abundance and investment excellence. Sign up today and let's grow together!
WBMS Premium Subscription
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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Friday Apr 19, 2024
Friday Apr 19, 2024
Key Takeaways:
The importance of having a preemptive strategy, like a prenup or postnup, to protect business interests in case of a divorce.
The necessity to have life insurance equating to the business's worth to secure its value and provide for beneficiaries upon the owner's death.
Including disability scenarios in succession planning to ensure continuous business operation if the owner becomes incapacitated.
Ensuring clear defined roles and agreements for business partners to prevent and manage internal disagreements.
The need for contingency planning, such as maintaining sufficient cash reserves, to face economic downturns and hardships (distress).
Chapters:
Timestamp Summary
0:00:05 Introduction and disclaimer about investment advice
0:00:49 Discussion on the consequences of divorce in business
0:03:23 Importance of having a prenup or postnup agreement for business ownership
0:04:23 Planning for the transfer or sale of business assets upon death
0:05:16 Involving children or key employees in the succession plan
0:05:58 Suggestion to buy life insurance to protect the value of the business
0:07:17 Planning for business continuity in the event of disability
0:08:22 Defining roles and responsibilities to mitigate disagreements
0:10:00 Suggestion to manage stress and seek mediation in case of disagreements
0:11:24 Importance of contingency planning for business distress
0:11:56 Planning for economic recession and contingencies
0:12:29 Discussing disasters and distress in business
0:13:03 Importance of proper planning for entrepreneurs
0:13:23 Planning reduces stress and increases profit
0:13:55 Contact information for Alison Reiff Martin
0:14:13 Disclaimer and closing remarks
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Thank you for checking out our free content on financial planning, the wealth mindset, and investing in innovation. If you've found value in our blog posts, I invite you to take your knowledge and commitment to the next level. Sign up for our premium paid newsletter today and receive daily insights and expert analysis directly in your inbox. Stay ahead of the curve and unlock the secrets to financial success. Don't miss out on this opportunity to deepen your understanding and gain an edge in the world of finance. Join our premium community now and embark on a journey towards financial abundance and investment excellence. Sign up today and let's grow together!
WBMS Premium Subscription
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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Wednesday Apr 17, 2024
Wednesday Apr 17, 2024
Key Takeaways:
Consider setting aside 10-20% of your budget for the maintenance of owned assets to prevent financial stress and ensure their enjoyment over time.
Every investment is essentially a currency trade, reflecting the vision and current preferences of the market's collective mindset.
Positioning for 'the big trade' involves anticipating shifts in market expectations and investing in assets that will be scarce and valuable in a future economic landscape.
The episode underscores the emerging significance of the digital economy and the potential of bitcoin as a store of value for digitally savvy generations.
Governments may need to inject more currency into the economy, prompting strategic investors to channel this flow into purchasing future-focused and scarce productive assets.
Chapters:
Timestamp Summary
0:01:51 Importance of budgeting for maintenance costs
0:05:00 Explanation of currency trading and its impact on asset prices
0:07:06 Advice for short-term traders and the role of liquidity
0:11:19 Focus on the big trade and identifying valuable assets
0:12:41 Rearranging present assets for future appreciation
0:13:32 The trend of increasing debts and its impact on currency value
0:14:25 Viewing everything as a currency and the need for alternative stores of value
0:15:21 Investing in scarce real estate and gold as stores of value
0:16:23 Exploring the monetary system of Bitcoin and its potential
0:18:00 The rise of new digitally native companies and the future of manufacturing
0:21:01 The potential of the digital economy and the attraction of Bitcoin for savings
0:22:27 Investing in companies that plug into the digital system
0:23:32 The self-reinforcing cycle of companies investing in Bitcoin
0:23:53 The emergence of the new digital economy and its potential for global participation
0:25:02 The role of collateral and the need for government bailouts in the current system
0:25:50 Countries bailing out companies to protect the economy
0:26:39 Middle class and poor spending money, while the rich buy assets
0:27:58 Reduce expenses, invest in future assets to grow wealth
0:28:33 Different ways the government is unlocking and injecting money into the system
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Follow Phillip Washington, Jr. on Instagram (@askphillip)
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Thank you for checking out our free content on financial planning, the wealth mindset, and investing in innovation. If you've found value in our blog posts, I invite you to take your knowledge and commitment to the next level. Sign up for our premium paid newsletter today and receive daily insights and expert analysis directly in your inbox. Stay ahead of the curve and unlock the secrets to financial success. Don't miss out on this opportunity to deepen your understanding and gain an edge in the world of finance. Join our premium community now and embark on a journey towards financial abundance and investment excellence. Sign up today and let's grow together!
WBMS Premium Subscription
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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Monday Apr 15, 2024
Monday Apr 15, 2024
Key Takeaways:
Emotions are integral to the investment process, acting as a guide to align financial decisions with personal satisfaction and well-being.
The practice of emotional self-awareness, such as through meditation and journaling, can help individuals navigate financial choices with greater clarity.
Overcoming fears related to spending, failure, and uncertainty is crucial in building wealth and feeling secure in financial decisions.
Embracing positive emotions can lead to a more attractive and magnetic state of being that can influence wealth creation.
The episode draws parallels between biblical tales and financial decision-making, providing a unique perspective on the intertwining of spirituality and finance.
Chapters:
Timestamp Summary
0:00:38 Introduction and plans to freestyle by Steve.
0:01:48 Everything in life is an energy exchange.
0:02:24 Going deep into emotions is hard but necessary.
0:03:46 Meditation and journaling open up a flood of emotions.
0:05:20 Navigating emotions opens up a higher dimension of awareness.
0:06:35 The mind analyzes and knows, both are important.
0:07:25 Example: Overcoming fears in wealth building.
0:09:08 Practicing positive emotions aligns your budget.
0:10:14 Overcoming the fear of judgment in spending.
0:11:51 Dealing with failure, uncertainty, and fear in wealth building.
0:12:15 Embracing uncertainty and avoiding impulsive decisions.
0:13:23 Achieving goals with positive emotions and alignment.
0:14:46 Changing feelings about money and embracing uncertainty.
0:16:21 Operating from a place of confidence and satisfaction.
0:17:49 Doing emotional work for personal satisfaction, not just for external changes.
0:18:17 The story of Adam and Eve as a metaphor for analytical vs. intuitive approaches.
0:20:07 Owning positive feelings to make wealth building easier.
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Thank you for checking out our free content on financial planning, the wealth mindset, and investing in innovation. If you've found value in our blog posts, I invite you to take your knowledge and commitment to the next level. Sign up for our premium paid newsletter today and receive daily insights and expert analysis directly in your inbox. Stay ahead of the curve and unlock the secrets to financial success. Don't miss out on this opportunity to deepen your understanding and gain an edge in the world of finance. Join our premium community now and embark on a journey towards financial abundance and investment excellence. Sign up today and let's grow together!
WBMS Premium Subscription
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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Saturday Apr 13, 2024
Saturday Apr 13, 2024
Key Takeaways:
Mental health is an ongoing journey that benefits from a proactive, rather than reactive, approach, much like physical health care.
The role of therapists, spiritual leaders, and barbers extends beyond their professional titles, often bridging the gap to emotional support and healing within the community.
Understanding and navigating the stages of grief is crucial for both personal healing and aiding others through difficult experiences.
Continual self-improvement and self-discovery are essential parts of growth and can be facilitated through therapy, meditation, and spiritual practices.
Creating safe spaces where people can express vulnerabilities and process their emotions contributes to building stronger, compassionate communities.
Chapters:
Timestamp Summary
0:00:00 Entering fights to expand skills, focusing on preparation and mindset
0:01:26 Practicing non-relative thinking and personal growth
0:02:09 Getting into the mental health profession and finding fulfillment in helping others
0:03:41 Misconceptions and stigmas about mental health and therapy in the Black community
0:05:49 Therapy helps heal the mind through speaking, reframing thoughts, and creating a plan
0:08:34 The impact of spirituality and the Bible on mental health and emotional healing
0:10:19 The importance of having a supportive and accepting father figure
0:11:26 Exploring individual versions of Christianity
0:11:50 Divine appointments and guidance from God
0:13:24 Using the barber shop as a space for therapy
0:14:39 Learning to process grief and help others through it
0:19:34 Providing support and guidance to clients as a barber
0:21:14 The importance of meditation in increasing self-awareness
0:23:05 The benefits of therapy and self-reflection
0:24:38 Progress, success, and pride in counseling clients
0:25:28 The importance of applying what’s learned in therapy and sharing one’s story
0:27:12 Embracing therapy as a continuous process of growth and self-discovery
0:27:55 Comparing therapy to sports practice and the need for adaptation over time
0:29:07 Mental health should always be a priority, with therapy needed in certain seasons
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Thank you for checking out our free content on financial planning, the wealth mindset, and investing in innovation. If you've found value in our blog posts, I invite you to take your knowledge and commitment to the next level. Sign up for our premium paid newsletter today and receive daily insights and expert analysis directly in your inbox. Stay ahead of the curve and unlock the secrets to financial success. Don't miss out on this opportunity to deepen your understanding and gain an edge in the world of finance. Join our premium community now and embark on a journey towards financial abundance and investment excellence. Sign up today and let's grow together!
WBMS Premium Subscription
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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Note: Explore our Health Series on YouTube for a visual supplement to the podcast. Enjoy a more comprehensive experience by watching the videos. Your well-being matters to us—happy listening and watching!
Friday Apr 12, 2024
Friday Apr 12, 2024
Key Takeaways:
Embrace the convenience of alternative payment options like Zelle, Venmo, PayPal, and stable coins. However, balance it against potential risks and fees.
Always verify the recipient's information before executing a transaction via alternative payment methods to prevent fraud.
Implement strong IT security measures and two-factor authentication to protect financial transactions from cyber threats.
Consider performing a small test transaction when setting up a new payment recipient to confirm the accuracy of the details.
Stay informed about the evolving digital payment landscape and continuously adapt business practices accordingly.
Chapters:
Timestamp Summary
0:00:05 Introduction and disclaimer about investment advice
0:00:37 Phillip and Allison discuss alternative payment options
0:01:40 Phillip shares a story about introducing a contractor to Zelle
0:02:44 Allison explains why many business owners are hesitant to embrace alternative payment options
0:03:57 Phillip mentions lightning and stable coins as cheaper alternatives
0:05:25 Allison highlights the risk of fraud with alternative payment options
0:06:26 Phillip and Allison discuss the importance of verifying payment details
0:07:21 Allison emphasizes the need for strong cybersecurity measures
0:08:59 Phillip suggests using two-factor authentication for financial institutions
0:10:09 Allison concludes the discussion on alternative payment options
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Thank you for checking out our free content on financial planning, the wealth mindset, and investing in innovation. If you've found value in our blog posts, I invite you to take your knowledge and commitment to the next level. Sign up for our premium paid newsletter today and receive daily insights and expert analysis directly in your inbox. Stay ahead of the curve and unlock the secrets to financial success. Don't miss out on this opportunity to deepen your understanding and gain an edge in the world of finance. Join our premium community now and embark on a journey towards financial abundance and investment excellence. Sign up today and let's grow together!
WBMS Premium Subscription
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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Monday Apr 08, 2024
Monday Apr 08, 2024
Key Takeaways:
Finance and investment are about protecting purchasing power and adapting to changing economic landscapes.
'Hard money' represents assets that are difficult to replicate, such as commodities, unique technological advancements, and bitcoin.
'Artificial money' denotes easily reproducible assets like stocks, bonds, and government-issued currency.
An effective investment strategy involves prioritizing long-term wealth storage in the hardest assets available, thereby countering inflationary pressures.
Understanding the relative scarcity of assets helps in crafting a balance sheet with a solid foundation, akin to a well-built house.
Chapters:
Timestamp Summary
0:00:00 Introduction to the podcast and sponsors
0:01:45 The importance of protecting purchasing power in finance
0:03:17 The concept of safe assets and their limitations
0:06:13 Differentiating hard money from artificial money
0:09:21 The hardest money asset - Bitcoin
0:12:01 The lifespan of artificial money assets
0:13:50 Differentiating between safe money and artificial money
0:14:30 The power of branding and scarcity in commodities
0:15:00 Bitcoin’s natural and mental scarcity
0:16:06 Bitcoin’s security and difficulty to replicate
0:17:17 Bitcoin’s attraction of smart minds and increasing value
0:17:53 Storing long-term wealth in hard assets
0:19:55 The relative scarcity of different assets
0:21:26 Setting a benchmark for investment decisions
0:22:23 The conservative approach of investing in hard assets
0:23:32 Rethinking risk as the ability to reproduce an asset
0:24:08 Volatility as a function of the market finding equilibrium
0:25:17 Safety in investing in scarce, hard assets
0:25:51 Outro and disclaimer
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Thank you for checking out our free content on financial planning, the wealth mindset, and investing in innovation. If you've found value in our blog posts, I invite you to take your knowledge and commitment to the next level. Sign up for our premium paid newsletter today and receive daily insights and expert analysis directly in your inbox. Stay ahead of the curve and unlock the secrets to financial success. Don't miss out on this opportunity to deepen your understanding and gain an edge in the world of finance. Join our premium community now and embark on a journey towards financial abundance and investment excellence. Sign up today and let's grow together!
WBMS Premium Subscription
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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Friday Apr 05, 2024
Friday Apr 05, 2024
Key Takeaways:
The "Buy, Borrow, Die" strategy involves acquiring appreciable assets, borrowing against them, and ultimately leaving them to heirs—typically with favorable tax implications.
To leverage this strategy effectively, one must carefully select assets that are anticipated to appreciate in value over time.
Utilizing loans strategically against assets is a non-taxable event that can fund further investments without incurring capital gains taxes.
Implementing the "Buy, Borrow, Die" strategy requires a substantial initial wealth base and should not be undertaken without professional financial advice.
The technique offers the duality of creating stable income streams from assets like rental properties while also ensuring future wealth for heirs, often at an increased market value but without the tax bite of capital gains.
Chapters:
Timestamp Summary
0:00:05 Introduction and disclaimer about investment strategies
0:00:37 Discussion begins on the “buy, borrow, die” strategy
0:01:59 Importance of having sufficient funds and a financial advisor
0:02:20 Explanation of buying various types of assets, including real estate and stocks
0:03:43 Benefits of leaving assets to family members at fair market value
0:06:20 Tax benefits of the strategy, including minimizing capital gains
0:07:21 Using borrowed funds for investments as a non-taxable event
0:08:48 Mention of life insurance as part of the strategy
0:09:06 Conclusion and contact information for Allison Reif Martin
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Thank you for checking out our free content on financial planning, the wealth mindset, and investing in innovation. If you've found value in our blog posts, I invite you to take your knowledge and commitment to the next level. Sign up for our premium paid newsletter today and receive daily insights and expert analysis directly in your inbox. Stay ahead of the curve and unlock the secrets to financial success. Don't miss out on this opportunity to deepen your understanding and gain an edge in the world of finance. Join our premium community now and embark on a journey towards financial abundance and investment excellence. Sign up today and let's grow together!
WBMS Premium Subscription
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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Wednesday Apr 03, 2024
Wednesday Apr 03, 2024
Key Takeaways:
Money is primarily a unit of measurement for transactions, reflecting a system created by governments to track value exchange.
The evolution of money follows a path of wealth moving from established order, through chaos, towards a new order, facilitated by creative innovation.
Understanding the yield curve plays a crucial role in navigating investment decisions across short and long-term horizons.
Wealth accumulation is driven by the flow of money towards problem solvers and creators who bring new value into the economy.
Refreshing beliefs and maintaining an open mind are vital for recognizing and capitalizing on emerging opportunities in wealth building.
Chapters:
Timestamp Summary
0:00:00 Introduction to the podcast and the topic of money
0:02:04 Money as a unit of account and a way to measure transactions
0:03:25 The value of money is separate from its function as a measurement
0:06:19 The limitations and flaws of man-made money systems
0:08:02 The importance of understanding the origins of money
0:09:56 Using the yield curve as a guide to navigate the flow of money
0:13:59 Choosing alternative investments outside of the traditional system
0:14:26 Investing options with potential higher returns than 5%
0:15:15 The journey of value from short-term to long-term investments
0:16:13 The concept of venture capital and its potential returns
0:16:51 The relationship between bond prices and return potential
0:18:39 The evolution of established companies and the need for new investments
0:19:19 Investing in innovative and new technologies for higher returns
0:20:19 The flow of money from order to chaos to new order
0:22:08 The mindset shift from survivor mode to creative mode in investing
0:23:35 Money as an idea and the manifestation of value
0:26:00 Geniuses awakening to solve problems and create new systems
0:28:14 The trinity of civilization: governments, businesses, and money
0:28:46 The dynamic forces of governments, businesses, and money
0:29:16 Value and wealth flow from entity to entity
0:29:53 Money follows creators and problem solvers
0:30:19 Enjoy the flow of money and wealth
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Thank you for checking out our free content on financial planning, the wealth mindset, and investing in innovation. If you've found value in our blog posts, I invite you to take your knowledge and commitment to the next level. Sign up for our premium paid newsletter today and receive daily insights and expert analysis directly in your inbox. Stay ahead of the curve and unlock the secrets to financial success. Don't miss out on this opportunity to deepen your understanding and gain an edge in the world of finance. Join our premium community now and embark on a journey towards financial abundance and investment excellence. Sign up today and let's grow together!
WBMS Premium Subscription
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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Monday Apr 01, 2024
Monday Apr 01, 2024
Key Takeaways:
Financial confidence is more about emotional intelligence than the ego or the manifestations of past financial actions.
Improving emotional intelligence can lead to positive changes in how one interacts with money, leading to increased wealth.
Feelings and emotions are powerful influencers on financial decisions; aligning these with positive financial goals is crucial.
Relational intelligence and understanding one's relationship with money significantly impacts wealth-building potential.
Building financial confidence involves working through one's negative associations with money and focusing on positive aspects.
Chapters:
Timestamp Summary
0:01:10 Introduction to the topic of building financial confidence
0:02:06 Explaining the concept of ego and its relation to confidence
0:03:08 Operating on different levels: thoughts, actions, and feelings
0:04:23 The importance of navigating emotions and adopting better feelings
0:05:18 Difference between emotional intelligence and social intelligence
0:06:25 Personal experience with social and emotional intelligence
0:08:11 Approaching money from a socially intelligent standpoint
0:09:19 Importance of improving the emotional relationship with money
0:11:08 Opening up to negative thoughts about money and reframing them
0:11:55 Finding gifts and positive insights from past experiences
0:11:50 Focusing on the positive aspects of relationships and experiences
0:12:07 Recognizing the gifts received from parents and appreciating their positive qualities
0:13:09 The importance of focusing on the positive aspects of people and experiences to avoid conflict
0:14:32 Viewing experiences as neutral and choosing to focus on the positive aspects
0:15:30 Building confidence by practicing how you want to feel and carrying that feeling into different situations
0:16:36 The role of confidence in attracting wealth and how people are drawn to confident individuals
0:17:34 Shaping the future based on how you feel about money and molding your ego to align with your desired feelings
0:18:44 The importance of raising emotional intelligence and how it affects social interactions
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Friday Mar 29, 2024
Friday Mar 29, 2024
Key Takeaways:
Surge Pricing Debate - Surge pricing may work for some industries based on demand, but applying it to steady products like fast-food may not always be justified.
Customer Retention - A significant risk of surge pricing is the potential loss of customers who may not see the added value in varying prices for the same product.
Operational Excellence - A strong operational process can often negate the need for surge pricing by streamlining service delivery and maintaining consistent quality.
Market Differentiation - For surge pricing to be accepted by customers, there needs to be a clear differentiator that warrants the increased cost.
Universal Business Goal - All businesses aim to solve a problem for the customer, and excelling in service and delivery can set one company apart from its competitors.
Chapters:
Timestamp Summary
0:00:05 Introduction and disclaimer about the content
0:00:37 Phillip and Allison discuss the positive energy of springtime
0:01:53 Introduction to the topic of surge pricing
0:02:35 Wendy’s implementation of surge pricing
0:03:39 Phillip and Allison discuss the risks and rewards of surge pricing
0:07:24 Comparison of surge pricing in fast-food chains
0:08:47 Phillip mentions the secret menu at In-N-Out Burger
0:09:53 Allison and Phillip discuss the lack of motivation to pay extra for standardized products
0:10:14 Conclusion of the conversation about surge pricing
0:10:12 Is there something that justifies surge pricing?
0:10:38 What problem does your product solve?
0:11:26 How can you provide your product/service better and faster?
0:12:25 Does your product/service fulfill a great need?
0:13:05 How to align vision with operational and service experience?
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Wednesday Mar 27, 2024
Wednesday Mar 27, 2024
Key Takeaways:
Understanding the principles of thermodynamics can provide insights into money management and investment strategies.
Inflation can be viewed as a hidden tax and manifests through increased debt across governments and societies.
Assets that attract focused energy and action tend to increase in value relative to currency, revealing investment opportunities.
Wealth accumulation is influenced by proactive money management and capitalizing on assets poised for growth.
Finding balance in one's present income and expenses is pivotal to maintaining long-term financial abundance.
Chapters:
Timestamp Summary
0:00:05 Introduction and disclaimer about investment advice
0:01:17 Discussing the fundamentals of money management
0:02:02 Explaining the laws of physics and how they relate to money
0:03:51 Understanding the transformative process of energy to matter
0:05:40 Money as an intangible energy that attracts mass
0:06:36 The value of money relative to assets and currency
0:08:21 The importance of focused action in wealth creation
0:09:40 The correlation between focused action and freedom
0:11:50 The cycle of entrusting community leaders for economic systems
0:13:13 Debt as a manifestation of inflation and system imbalance
0:15:09 Financially aware actors accumulate wealth to protect against inflation
0:15:58 Financially aware individuals cause scarcity of resources
0:17:07 People act rationally based on their awareness of inflation
0:18:10 Financially aware individuals consider various asset classes for investment
0:19:19 Wealthy areas recover faster in markets
0:20:19 Wealthy individuals invest in real estate and volatile assets
0:21:20 Focus on assets with the most energy and potential growth
0:22:58 Volatility in the market reflects the shifting mindset of investors
0:24:36 Avoid being at the bottom of the pack to protect against inflation
0:26:19 Financial awareness prevents individuals from becoming slaves to the system
0:27:48 Michael Saylor’s ability to evolve with the times and buy bitcoin with convertible debt is an amazing story
0:28:18 Mid-sized and small companies are being acquired by larger companies due to cheap access to debt or being on the fringes of innovation
0:29:04 Wealth will be transferred to a new generation of assets as rich people with blind spots pass on their money
0:30:11 The key to good money management is bringing income and expenses into alignment and having an abundance
0:30:46 Forget about retirement and focus on finding balance in the present
0:31:19 Over time, maintaining balance will lead to financial abundance
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Monday Mar 25, 2024
Monday Mar 25, 2024
Key Takeaways:
Emotional biases greatly impact our perception of financial information, often leading to flawed investment decisions.
The media tends to amplify emotions, such as fear or dissatisfaction, due to its profit-driven model, influencing collective thinking about investments.
Wealth feels like ease, satisfaction, patience, freedom, joy, and peace, and associating these emotions with money can lead to smarter financial choices.
Negative emotional resonance with money can entrench individuals in financial ruts, highlighting the necessity of cultivating a more positive financial mindset.
Intellect and money are similar resources that, if leveraged correctly and continually reinvested, can grow, just as static intellect can lead to missed opportunities.
Chapters:
Timestamp Summary
0:00:05 Introduction and disclaimer
0:00:37 Phillip introduces the topic of navigating noise in the market
0:01:19 The power of perspectives shaped by previous generations
0:02:01 Our mood influences our perception
0:02:45 Importance of being in a good mood for making good decisions
0:04:09 Media’s objective to attract attention through fear
0:05:09 Most people are not financially satisfied
0:06:16 How to factor through the noise and find opportunities
0:07:23 Change the internal feeling about money to process the noise
0:09:31 Practice the feeling of wealth to filter out negativity
0:10:59 Use intellect to keep an open mind and attract more knowledge
0:13:08 Use intellect to focus on new ideas and manifest wealth
0:14:23 Focusing on progressive energy to manifest balanced finances
0:15:00 Feeling lack leads to unbalanced finances and debt
0:15:32 Changing the feeling first to have balanced finances
0:15:57 Building a strong foundational feeling about money
0:16:15 Taking in new information as you become financially mature
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Friday Mar 22, 2024
Friday Mar 22, 2024
Key Takeaways:
Retirement Planning for Business Owners - Plan ahead using retirement strategies such as 401(k)s or SEPs to effectively reduce taxes and build savings.
Strategic Monthly Contributions - Implement a monthly contribution schedule to retirement plans to manage cash flow and maximize tax benefits over time.
Understanding Plan Benefits - Recognize the substantial tax credits offered by new retirement plans, incentivizing business owners to maintain such programs for fiscal advantage.
Deferred Compensation Plans - High-earners may find deferred comp plans valuable for unlimited pre-tax deductions, though they entail specific risk considerations.
Continuous Tax Strategy Adaptation - Proactively engage in tax planning discussions and stay updated on developments throughout the year to maintain a commanding financial position.
Chapters:
Timestamp Summary
0:00:45 Allison Reif Martin mentions the March 15 deadline for filing tax returns
0:01:27 Discuss the importance of tax planning for retirement
0:02:51 Encourages monthly contributions to retirement plans
0:04:07 Emphasizes the importance of retirement planning
0:05:19 Philip asks about deferred comp plans
0:05:47 Allison expresses support for deferred comp plans
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Thank you for checking out our free content on financial planning, the wealth mindset, and investing in innovation. If you've found value in our blog posts, I invite you to take your knowledge and commitment to the next level. Sign up for our premium paid newsletter today and receive daily insights and expert analysis directly in your inbox. Stay ahead of the curve and unlock the secrets to financial success. Don't miss out on this opportunity to deepen your understanding and gain an edge in the world of finance. Join our premium community now and embark on a journey towards financial abundance and investment excellence. Sign up today and let's grow together!
WBMS Premium Subscription
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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Monday Mar 18, 2024
Monday Mar 18, 2024
Key Takeaways:
Sound money management principles apply universally and allow individuals to recognize similar practices within businesses and governments.
Inflation and currency depreciation are recurring themes in unsound monetary policies, often leading to systemic economic issues.
Money, being an energy, should be anchored in assets that are scarce and regulated by natural supply and demand, without human manipulation.
There is a clear distinction between assets with intrinsic scarcity and worth (like gold and real estate) and those susceptible to artificial inflation or governmental interference.
Understanding these principles is key not just for personal wealth but also for making intelligent investment choices in a complex financial world.
Chapters:
Timestamp Summary
0:00:05 Introduction and disclaimer about investment advice
0:00:38 Introduction to the topic of sound money management
0:02:52 Importance of building sound money management principles
0:03:18 Money as energy and the concept of spirit
0:06:24 The scarcity of solid foundations in a world run by fixers
0:08:40 The confusion around what money actually is
0:10:08 Hypothetical scenario of a system with sound money
0:13:02 Sorting through options to find sound money
0:14:35 Examples of sound money: gold and real estate
0:15:09 Gold mining and supply and demand
0:17:04 Scarcity and value of assets like Apple stock and Bitcoin
0:19:20 Ideas and money management in personal life
0:20:44 Spotting assets with sound money management principles
0:22:16 Cultivating wealth from within
0:22:26 Closing remarks and disclaimer
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Thank you for checking out our free content on financial planning, the wealth mindset, and investing in innovation. If you've found value in our blog posts, I invite you to take your knowledge and commitment to the next level. Sign up for our premium paid newsletter today and receive daily insights and expert analysis directly in your inbox. Stay ahead of the curve and unlock the secrets to financial success. Don't miss out on this opportunity to deepen your understanding and gain an edge in the world of finance. Join our premium community now and embark on a journey towards financial abundance and investment excellence. Sign up today and let's grow together!
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Friday Mar 15, 2024
Friday Mar 15, 2024
Key Takeaways:
Understanding the 'business planning pyramid' is vital for building a strong foundation for your business.
Having the right team in place is crucial, which could mean offering sweat equity in the early stages to stay lean.
Financial resources play a significant role in how you plan and execute business strategies.
Facing and understanding your financial numbers, even when they're not ideal, is essential for growth and pivoting.
Keeping an open mindset, similar to the clarity brought by meditation, can help refresh business strategies to meet current market demands.
Chapters:
Timestamp Summary
0:00:05 Introduction and disclaimer
0:00:37 Phillip and Allison start discussing the topic of organizing home offices
0:00:44 They introduce the concept of a business planning pyramid, starting with the foundation which includes operations, management team, vision, and financial stability
0:02:08 The importance of having a strong foundation before seeking investment is emphasized
0:03:09 They discuss the importance of having a strong top team, sound operations, and financial stability for a business
0:03:21 Phillip asks Allison about whether it's better to invest in raising the capacities of the existing team or hiring someone from outside, from a financial perspective
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Thank you for checking out our free content on financial planning, the wealth mindset, and investing in innovation. If you've found value in our blog posts, I invite you to take your knowledge and commitment to the next level. Sign up for our premium paid newsletter today and receive daily insights and expert analysis directly in your inbox. Stay ahead of the curve and unlock the secrets to financial success. Don't miss out on this opportunity to deepen your understanding and gain an edge in the world of finance. Join our premium community now and embark on a journey towards financial abundance and investment excellence. Sign up today and let's grow together!
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Monday Mar 11, 2024
Monday Mar 11, 2024
Key Takeaways:
Bitcoin is posited to be the foundation for a new global financial system, which is being more readily accepted by the younger, tech-savvy generations.
Bitcoin mining is compared to the oil refining industry of the past, indicating its potential for massive growth and importance in the digital age.
The episode explores the three key competitive advantages for Bitcoin miners: operational capacity, access to capital, and equipment availability.
Insights into how Bitcoin miners generate revenue through mining new Bitcoin and by collecting transaction fees on the network.
The guest emphasizes the importance of a CEO's role in the success of a Bitcoin mining company, noting operational expertise and sound financial management as critical factors.
Chapters:
Timestamp Summary
0:00:05 Introduction and disclaimer about investment advice
0:00:38 Introduces the topic of bitcoin mining
0:01:48 Discusses the principles of investing and the value of bitcoin
0:04:24 Explanation of the importance of a solid financial system and the role of bitcoin
0:06:22 Discussion on how bitcoin mining helps stabilize energy grids
0:08:17 Comparison of bitcoin mining to John D. Rockefeller’s oil refining business
0:11:00 Explanation of the role of bitcoin miners in renewable energy
0:13:12 Overview of the opportunities and competitive edge in bitcoin mining
0:15:20 How to evaluate bitcoin miners
0:15:56 Sources of revenue for bitcoin miners
0:16:29 Importance of competitive advantages for bitcoin miners
0:17:27 Transaction fees for bitcoin miners
0:18:12 Importance of vertical integration for bitcoin mining companies
0:19:33 The significance of listening to the CEO of a bitcoin mining company
0:21:15 Bitcoin mining as a profitable opportunity
0:21:49 Conclusion and final thoughts
0:22:16 Disclaimer and past performance disclosure
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Saturday Mar 09, 2024
Saturday Mar 09, 2024
Key Takeaways:
Orgasms provide substantial health benefits that aid in relaxation and stress reduction, including hormone balance and reduced cortisol levels.
Sexual confidence and a well-rounded sexual education significantly contribute to mental wellness and relationship satisfaction.
Men often bear misconceptions about sex, its consequences, and the physiology of their partners, which can lead to decreased enjoyment and increased stress.
Vulnerability can be a man's superpower, offering therapeutic benefits and fostering deeper connections with others when shared responsibly on platforms with influence.
Personal experiences of failure and growth, when shared openly, can have a transformative impact on the sharer as well as the broader community.
Chapters:
Timestamp Summary
0:00:00 Introduction to the conversation and the topic of sex education
0:01:10 The healing benefits of orgasm for relaxation and stress reduction
0:02:43 Goody Howard’s personal journey into sex education
0:06:08 The importance of understanding and educating about pleasure and partner’s bodies
0:07:48 The impact of sexual confidence and societal pressures on mental wellness
0:10:56 The cycle of stress and lack of sex in relationships
0:11:27 Addressing issues of erectile dysfunction and sexual satisfaction
0:11:27 How to help couples prioritize pleasurable and relaxing sex
0:12:18 Importance of equitable division of labor in a relationship
0:13:09 Suggestion to have sex before going out on a date night
0:13:49 Initiate sex every 72 hours for a month to improve relationship chemistry
0:14:56 Fixing sexual problems with non-sexual solutions
0:15:21 Common misconceptions about sex and relaxation
0:15:55 Importance of using lubricant for self-pleasure
0:16:44 Benefits of masturbation for mental wellness and relationship dynamics
0:17:46 Misconception that self-pleasure doesn’t exist in a healthy relationship
0:18:39 Importance of pleasure and connection beyond orgasm
0:19:14 Impact of sexual orientation and trauma on mental health
0:19:48 Physical benefits of orgasm on mental wellness
0:21:27 Introduction of Nate Copman and the power of vulnerability
0:22:08 Healing through vulnerability and its impact on men
0:22:42 Nate shares his life-changing experience of vulnerability after his divorce.
0:23:21 Discussing the importance of vulnerability and the therapeutic effect it had on him.
0:24:13 Explanation of why his vulnerability resonated with people and the impact it had on them.
0:25:56 Reflection on the responsibility of his influence and how he uses it for good.
0:27:50 How vulnerability helped him express himself and avoid negative outlets.
0:29:10 Not being influenced by others’ judgments and focusing on his own well-being.
0:30:19 The importance of doing what’s best for oneself regardless of others’ opinions.
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Note: Explore our Health Series on YouTube for a visual supplement to the podcast. Enjoy a more comprehensive experience by watching the videos. Your well-being matters to us—happy listening and watching!
Friday Mar 08, 2024
Friday Mar 08, 2024
Key Takeaways:
A strong operational foundation and solid financials are key when seeking private equity.
Technology firms and consumer products are leading the charge in attracting investments in 2024.
Consider the dynamic of involving friends and family as investors; weigh the personal risks versus the financial benefits.
Self-sufficiency is attractive to investors — businesses that don't rely heavily on external funding are more likely to secure investment.
The current market conditions necessitate a shift towards patient operation and imaginative solutions to optimize business potential.
Chapters:
Timestamp Summary
0:00:05 Introduction and disclaimer
0:01:58 Private equity trends for 2024
0:03:49 Tech firms and consumer products are popular for investments
0:05:20 Making a business more attractive to investors
0:07:08 Considering friends and family as investors
0:09:25 The importance of patience and creative imagination
0:10:29 Building a strong business foundation
0:11:50 Managing expectations and emotions when taking on investors
0:12:57 Aligning values with potential investors
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Wednesday Mar 06, 2024
Wednesday Mar 06, 2024
Key Takeaways:
The emergence of trillion-dollar corporations is not unlikely in the near future, as companies like Apple and Tesla grow in market value.
Traditional measurements of money and wealth are influenced by "nerd math," a concept used by those in power to manipulate financial systems.
Despite fluctuations and imbalances created by such systems, global wealth and resources are inherently abundant and follow natural cycles.
Understanding historical patterns of wealth and the relative value of money across time frames can provide insights for modern wealth-building strategies.
Transitioning to a new economy opens opportunities for investments in future technologies like autonomous driving and digital currencies.
Chapters:
Timestamp Summary
0:00:05 Introduction and disclaimer about investment advice
0:00:38 Introduction to the topic of the age of trillionaires
0:02:03 Discussion on the first billion dollar corporation
0:03:07 Importance of steel and energy in the 19th century industrial economy
0:05:17 Explanation of debt-based systems and money printing
0:07:01 Comparison of money to water and time
0:08:38 Discussion on the purpose of money and decision making
0:10:13 Explanation of nerd math and its impact on natural systems
0:12:52 Connection between power, wealth, and manipulation of money supply
0:14:58 Insight into the current state of global economies and the role of money printing
0:15:33 Debate on who was wealthier: Mansa Musa, King Solomon, John D. Rockefeller, or Elon Musk
0:16:31 The richest people throughout history were all relatively the same in terms of wealth
0:17:28 Perspective on the value of a trillion dollars and large companies
0:19:56 The changing economy and the potential for new opportunities to build wealth
0:20:26 The importance of understanding the preferences of the current generation
0:22:14 The mindset of Caesar and the control exerted by those in power
0:23:48 The concept of money changers and the role of centralized authorities
0:25:28 Following the flow of money and recognizing abundance
0:26:38 The age of trillionaires and the potential for companies to be worth trillions
0:27:35 Closing remarks and advice on building wealth
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Monday Mar 04, 2024
Monday Mar 04, 2024
Key Takeaways:
A balanced approach to decision-making that harmonizes data with creativity and emotional intelligence is critical for true wealth building.
Historical biases and present market misunderstandings can be overcome by those who use imaginative thinking in financial opportunities.
Nerd math, or the reliance on past data without considering imagination or feelings, can lead to biased conclusions and missed opportunities.
Bitcoin and digital currencies represent the new foundation for wealth in a digital economy, mirroring the historical role of gold and real estate in balancing paper currency.
The evolving energy markets and the growth of bitcoin mining underscore the unprecedented opportunities for those willing to challenge conventional wisdom.
Chapters:
Timestamp Summary
0:00:05 Introduction and disclaimer about the podcast content
0:00:37 Stonehill Wealth Management and the purpose of the podcast
0:01:16 The concept of “nerd math” and its limitations discussion
0:03:12 Explaining the difference between the reason mind and the imagination
0:04:42 The story of Cain and Abel as an example of nerd math
0:07:47 Discussing the limitations of using data and algorithms in dating
0:09:02 Exploring the mindset of accumulation vs. attraction in wealth
0:10:33 Highlighting the abundance and potential for wealth in the world
0:12:31 Addressing biases and limitations of using past data in decision-making
0:13:05 Phillip challenges the assumptions made by a franchise based on past data
0:13:31 The importance of imagination and creativity in making money in the future
0:14:20 The misconception about bitcoin mining and its potential for energy solutions
0:15:32 The example of a bitcoin mining operation in Corsicana, Texas
0:16:24 The challenge of balancing energy capacity and cost in town development
0:17:32 How a bitcoin miner can reduce energy costs for a town and attract more businesses
0:19:20 The role of bitcoin as a scarce resource and foundation for the digital economy
0:21:15 The power of belief in determining the value of money
0:21:48 The importance of imagination in understanding the potential of bitcoin
0:22:18 Disclaimer and advice on consulting a financial advisor
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Monday Feb 26, 2024
Monday Feb 26, 2024
Key Takeaways:
Financial independence is best pursued through avenues that resonate personally and are driven by genuine interest and enjoyment.
Budgeting success is closely tied to self-appreciation and reduction in expenditure driven by societal pressure or a quest for external validation.
The value backing assets like bitcoin is fundamentally based on collective belief and the perceived benefits offered by the asset.
A multitude of investment opportunities exists in the rapidly changing world, including digital currencies, women's sports, real estate, AI, media, and sports betting.
Leveraging emotional intelligence in financial decision-making can simplify the overwhelming influx of information and lead to more aligned and successful investments.
Chapters:
Timestamp Summary
0:00:05 Introduction and disclaimer
0:00:38 Introduction to the topic of becoming financially independent
0:02:20 Importance of finding a path to wealth that aligns with personal interests
0:04:18 Emphasizing the need to enjoy the journey to financial independence
0:06:47 Overcoming external judgment and expectations in the pursuit of wealth
0:09:19 Appreciating what one currently has as a foundation for budgeting
0:11:43 Budgeting becomes easier when the desire for external validation is reduced
0:13:35 The value of Bitcoin is based on belief and scarcity
0:14:34 Building a city that attracts high-income digital earners
0:15:17 Belief as the driving force behind the value of assets
0:16:23 Bitcoin as a neutral collateral for a financial system
0:17:45 Various investment opportunities in the new world
0:20:37 Importance of emotional intelligence in wealth management
0:24:19 Using emotions as a guide to find winning investment ideas
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Friday Feb 23, 2024
Friday Feb 23, 2024
Key Takeaways:
Employees should regularly review their pay stubs to confirm accurate salary, tax withholdings, and benefit allocations.
Life events such as marriages or having children can impact employee benefit enrollment, necessitating a careful review of changes.
Proactively monitoring pay stubs can help uncover missed compensation and prevent surprise tax bills at the end of the year.
Planning ahead for tax season, even early in the year, can significantly ease the financial burden come December.
Tax planning and paycheck review services are available for those who find the task daunting, with experts like Allison ReiffMartin CPA, ready to assist.
Chapters:
Timestamp Summary
0:00:42 Introduction to the topic of preparing for taxes by December 31
0:01:18 Importance of understanding and checking pay stubs
0:03:14 Story about people not being paid what they were promised
0:05:05 Checking employee benefits packages and adjusting withholdings
0:06:40 Reminder to start planning for personal tax returns in March and April
0:07:51 Contact information for more assistance and discussion
0:08:09 Disclaimer and end of the conversation
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Wednesday Feb 21, 2024
Wednesday Feb 21, 2024
Key Takeaways:
Wealth can be built within the established systems, but biases and limitations can hinder progress.
Pursuing opportunities outside of traditional systems can lead to uninhibited wealth generation through innovative channels.
Open-mindedness and adaptive strategies are pivotal in positioning oneself for financial success in a rapidly evolving economic landscape.
Investment in personal education and staying at the forefront of technology, like AI, can provide a competitive edge.
Love and cooperative attitudes transcend biases, fostering a more inclusive and bountiful economic environment for all.
Chapters:
Timestamp Summary
0:00:05 Introduction and disclaimer about investment advice
0:00:38 Introduction to the topic of building wealth within or outside the current system
0:03:15 Discussion on biases and the current system
0:05:01 Exploring the concept of building wealth outside the system
0:06:38 Using the example of bitcoin to illustrate cooperation outside the system
0:09:28 Challenging traditional wealth management practices
0:11:00 Emphasizing the importance of being a good person within legal boundaries
0:12:09 Rethinking the traditional education system
0:13:16 Highlighting the limitations of closed system thinking
0:13:50 Reason vs. imagination as the mind’s organizer of facts and creative energy
0:14:19 Teaching children to think with an open mind and not limit themselves to reason
0:16:10 Building wealth and financial freedom through innovation and open-mindedness
0:17:26 Examples of unconventional ways to build wealth quickly
0:19:04 The importance of an open mind and embracing change
0:21:33 Biases and diversity in building wealth and cooperation in economies
0:23:00 The message of love and acceptance for Valentine’s Day
0:23:53 Moving forward with an open and evolving mind
0:24:08 Disclaimer and closing remarks
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Monday Feb 19, 2024
Monday Feb 19, 2024
Key Takeaways:
Understanding and adjusting our subconscious money-related beliefs can profoundly impact our financial decision-making.
The significance of emotional intelligence in wealth building often supersedes that of purely intellectual or action-oriented approaches.
Daily emotional exercises, like meditating on positive feelings about money for at least 15 minutes, can gradually improve one's financial outlook.
Harmonizing mind, body, and spirit is essential for developing inner confidence and aligning financial actions with personal values.
Approaching wealth building with a mindset of optimism and non-judgment towards oneself and others can unlock a more effortless path to success.
Chapters:
Timestamp Summary
0:00:05 Introduction and disclaimer
0:00:38 Topic: Improving your relationship with money
0:01:14 The importance of becoming aware of your beliefs
0:02:34 Example of how beliefs can be formed
0:04:28 The impact of perception on beliefs
0:06:15 Improving your relationship with money through awareness
0:07:58 The three energy sources for building wealth
0:09:35 The importance of alignment between thoughts and actions
0:11:57 Practicing the way you want to feel about money
0:13:27 It takes time to develop a healthy relationship with money, just like getting fit. Start with 15 minutes a day.
0:14:26 Focus on feeling better every day, even if you can’t achieve the exact feeling you want.
0:15:36 Becoming aware of limiting beliefs can be uncomfortable, but it’s part of the process. Embrace imperfection and always strive to improve.
0:17:21 Optimism and confidence are key to attracting financial success. Rich people tend to be optimistic about money.
0:18:39 Confidence comes from understanding and flowing with your emotions, not from having money.
0:19:58 Confidence allows you to ignore thoughts that don’t feel good and focus on your own path of growth.
0:21:26 Appreciate others’ strengths without comparing yourself. Use moments of envy as indicators of your own limiting beliefs.
0:22:19 Emotional work is more important than technical finance details. Focus on improving your relationship with money.
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Friday Feb 16, 2024
Friday Feb 16, 2024
Key Takeaways:
Bonus depreciation allows businesses to expense capital asset purchases immediately, impacting cash flow and investment opportunities positively.
The Tax Cuts and Jobs Act initially enabled 100% bonus depreciation in the first year, set to decrease to 80% in 2023.
A bipartisan "tax extender bill" may restore the 100% bonus depreciation rate, providing significant benefits to business owners.
Provisions for business interest expense deductions empower companies to invest in growth through capital and team expansion.
A hopeful outlook is expressed toward the Senate's anticipated approval of the bill, reinforcing the support for small and medium-sized businesses.
Chapters:
Timestamp Summary
0:00:45 Discussing the upcoming March 16 deadline for filing business returns.
0:01:25 Explaining the concept of bonus depreciation and its benefits for business owners.
0:03:49 Mentioning the tax extender bill to revert bonus depreciation back to 100%.
0:05:22 Highlighting other tax savings opportunities for business owners.
0:06:29 Discussing the lowering of interest expense thresholds for business owners.
0:07:56 Sharing contact information for further discussion on tax law changes.
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Monday Feb 12, 2024
Monday Feb 12, 2024
Key Takeaways:
View the market as a collective consciousness that encompasses the thoughts and behaviors of all participants.
Economic ideas can be characterized by generational impact and seasonal cycles: winter, spring, summer, and fall.
Focus on the assets and ideas that represent spring and summer, as they are believed to be undervalued but hold the most potential for growth.
Recognize the limitation of traditional valuation methods in an evolving currency system, emphasizing practical approaches to gauging future value.
Consider how price signals can guide investment choices, especially when factoring in inflation and currency devaluation.
Chapters:
Timestamp Summary
0:00:05 Introduction and disclaimer about investment advice
0:01:12 Understanding the market as a collective consciousness
0:02:41 Explaining the different seasons of the market based on generational ideas
0:06:33 The relevance of companies and the impact of inflation
0:07:48 The challenge of incumbents to reinvent themselves
0:09:18 The importance of maintaining an open mind and adapting to change
0:10:19 Price as a signal and its role in guiding market behavior
0:13:11 The current state of bond rates and their implications for investors
0:13:15 Inflation and the impact on bond prices
0:14:30 Using price as a signal in a changing dollar-based system
0:16:13 Valuing assets based on future usage and the changing financial system
0:18:39 Trillion-dollar companies undervalued due to solving big problems
0:19:55 The importance of currency in valuing assets
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Friday Feb 09, 2024
Friday Feb 09, 2024
Key Takeaways:
A majority of small to medium sized businesses set for sale fail to sell, emphasizing the need for strategic exit planning.
Concentration risk, revenue diversity, cost management, and regular financial review are crucial for business readiness.
Businesses should be turnkey with a clear infrastructure to be attractive to potential buyers.
Market feedback is essential; businesses must be willing to pivot based on this valuable insight.
It's important to maintain an active love and dedication to your business to build value and appeal.
Chapters:
Timestamp Summary
0:00:05 Introduction and disclaimer about investment advice
0:00:38 Discussion on the importance of having a well-executed plan for business success
0:02:32 The need for business owners to focus on value and plan for the future
0:04:13 Evaluating revenue sources and diversifying service offerings
0:05:33 Importance of regularly reviewing expenses and financial performance
0:06:28 Assessing the business infrastructure and team
0:08:05 Listening to market feedback and making appropriate pivots
0:09:02 Final thoughts on the importance of loving and adding value to your business
0:09:26 Contact information for further discussion
0:09:59 Closing disclaimer about investment advice
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Wednesday Feb 07, 2024
Wednesday Feb 07, 2024
Key Takeaways:
ESOPs offer substantial tax advantages, potentially allowing business owners to defer or even eliminate capital gains tax on the sale proceeds.
Employee-owned businesses often demonstrate increased employee retention, higher productivity, and resilience in economic downturns like the COVID-19 pandemic.
Selling to an ESOP doesn't mean losing control; employees receive shares held in trust, ensuring operational consistency post-transition.
Ideal candidates for ESOPs are long-standing, profitable businesses with a sizable workforce, valuing relationships and internal growth.
The journey to an ESOP involves initial exploration, feasibility analysis, and a structured process including valuation and negotiation, handled by experts like Doug and his team.
Chapters:
Timestamp Summary
0:00:05 Introduction and disclaimer about the purpose of the podcast.
0:00:37 Phillip introduces the guest, Doug Janowski, and asks him to introduce himself.
0:00:53 Doug Janowski introduces himself as an advisor specializing in ESOP advisory and explains the purpose of their work.
0:02:04 Phillip asks about the financial and overall benefits of an ESOP plan compared to selling outside.
0:03:26 Doug explains the tax advantages of selling to an ESOP, including the potential elimination of capital gains tax and the tax-free status of the business going forward.
0:04:35 Phillip asks about the success rate of businesses after being sold to an ESOP. Doug explains that employee-owned businesses tend to perform better in terms of employee retention, productivity, and survival rates.
0:07:30 Doug addresses some common misunderstandings and downsides of ESOPs, including the misconception that owners won’t receive top dollar for their business and the fear of losing control.
0:10:56 Doug concludes the discussion by emphasizing that ESOPs don’t aim to take over a business or dictate how it should be run, but rather create a sense of ownership and pride among employees.
0:11:25 Geopolitics of the 18th century
0:11:28 Benefits of distributing ownership
0:11:58 75% of owners regret selling to a third party
0:13:00 ESOPs best for businesses with strong relationships
0:13:38 ESOPs not for all-cash transactions or distressed businesses
0:14:09 ESOPs tend to lean towards blue-collar businesses
0:14:48 ESOPs popular among 2nd and 3rd generation businesses
0:15:32 ESOP process: phone call, deep dive, feasibility analysis
0:16:51 Engaging in the ESOP process
0:18:17 Negotiations, plan design, and close rate
0:20:31 ESOPs involve retirement plan setup and owner’s wealth diversification
0:21:32 Phillip discusses the importance of having a knowledgeable team for ESOPs.
0:21:40 Doug explains the various parties involved in an ESOP and the need for expert advisors.
0:22:30 Doug emphasizes the complexity of ESOPs and the importance of regular communication with advisors.
0:23:47 Doug explains how an ESOP can serve as an estate planning mechanism.
0:24:15 Doug discusses the different levels of involvement an owner can have in the business after implementing an ESOP.
0:25:25 Phillip suggests hiring a CEO as a possible solution for owners who want to sell but still be involved in the business.
0:26:06 Doug explains the options of selling to a strategic buyer or an independent sponsor in certain situations.
0:26:42 Doug emphasizes that an ESOP is not the right choice for every business, but when it is, the outcomes can be tremendous.
0:27:27 Phillip shares a story of how he recommended an ESOP to an owner who was considering a strategic buyer.
0:28:44 Doug discusses the importance of educating entrepreneurs about ESOPs and the potential benefits.
0:30:09 Doug compares entrepreneurs to squirrels and explains the concept of “taking the nuts out of the tree” in relation to selling a business.
0:31:20 Doug provides contact information for those interested in learning more about ESOPs.
0:31:35 Phillip asks Doug to look up his name on the site
0:31:37 Doug confirms that he is the only Doug on the site
0:31:41 Phillip jokingly mentions that Doug is the youngest Doug on the site
0:31:44 Phillip thanks Doug for his informative session
0:31:49 Doug expresses his pleasure and willingness to come back
0:31:51 Disclaimer: Phillip is a registered investment advisor and advises consulting with a qualified financial advisor before implementing any strategy
0:32:18 Disclaimer: Past performance is not indicative of future performance
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Tuesday Feb 06, 2024
Tuesday Feb 06, 2024
Key Takeaways:
Yoga and meditation can serve as gateways to a new level of awareness and mental health.
Injuries and life changes often lead individuals to discover the holistic benefits of yoga.
The practices of yoga and meditation have profound effects, offering stress relief, improved mobility, and emotional wellness.
Addressing the barriers of intimidation and the misconception that yoga and meditation are exclusive or culturally specific practices.
Yoga provides tools for personal development and empowerment, reinforcing one's control over responses to life's stressors.
Chapters:
Timestamp Summary
0:00:07 Introduction to the yoga session and the benefits of yoga and meditation
0:02:14 Flow’s personal journey into yoga and becoming an instructor
0:04:45 Georgette Dunn’s experience with yoga and its impact on her mind, body, and soul
0:08:54 Elsa Thompson’s personal journey into yoga and meditation for stress relief and self-discovery
0:12:45 Discussion on the misconception of aging and the importance of maintaining flexibility
0:13:13 Yoga posture demonstration and alignment guidance
0:13:40 Flow: Allow your toes to point down. Keep your glute leveled. Deep breath in. Reach for something tangible.
0:14:23 Flow: Kick back something behind you that needs to stay back there and reach for something intangible.
0:15:32 Flow: Pull in love, release hate. Pull in confidence, release doubt. Pull in strength, release worry.
0:16:48 Elsa Thompson: Emotions are real, and it’s important to feel them. Meditation helps with emotional regulation.
0:18:04 Elsa Thompson: Meditation is a tool of empowerment to regulate emotions.
0:19:10 Elsa Thompson: Some resist meditation because they can’t turn their mind off or think it has religious aspects.
0:21:17 Georgette Dunn: Yoga can be intimidating, but creating a welcoming space and representation can help overcome resistance.
0:22:17 Georgette Dunn: Encouraging people to pause, feel their breath, and simplifying yoga can help overcome resistance.
0:25:14 Elsa Thompson: Mindfulness and meditation help minimize stress by keeping you present and releasing trapped emotions.
0:27:15 Yoga and meditation can help address stress by creating space for slowing down and responding effectively.
0:28:53 Thoughts are not who we are; they are impacted by experiences and perceptions. Meditation helps decipher between thoughts and reality.
0:32:30 Yoga provides a mental break and helps entrepreneurs navigate the stress and challenges of running a business.
0:35:44 Yoga brings awareness to buried emotions and helps individuals be honest about their feelings.
0:37:22 Opening a yoga studio as an entrepreneur can be challenging, but staying connected to the passion and purpose fuels the journey.
0:39:16 Regulating emotions benefits relationships by allowing for intentional and empathetic responses.
0:40:36 Modeling self-regulation for children
0:41:10 Teaching children to regulate their emotions
0:41:56 Soft parenting and teaching children to work through emotions
0:43:30 Importance of self-regulation skills for adults
0:44:10 Using deep breaths to find calm in stressful situations
0:45:47 Yoga as a tool for self-discovery and acceptance
0:46:35 Judgment and the need for personal growth
0:47:36 Yoga for weight loss and setting intentions
0:48:52 The ongoing process of mental healing and growth
0:51:49 Importance of balance and its impact on aging
0:52:29 Meaning of namaste in Polysanscript language
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Note: Explore our Health Series on YouTube for a visual supplement to the podcast. Enjoy a more comprehensive experience by watching the videos. Your well-being matters to us—happy listening and watching!
Monday Feb 05, 2024
Monday Feb 05, 2024
Key Takeaways:
The industrial economy is facing a 'big short' as it gives way to a digitally-driven future, necessitating a shift to innovation-focused investments.
Traditional economic structures are becoming outdated due to excessive debt and the subsequent devaluation of currency, which opens new investment paradigms such as Bitcoin.
Companies that offer distinct value in emerging domains, such as AI, transportation, and healthcare, represent modern 'currencies' of investment.
Embracing artificial intelligence will not diminish opportunities but rather, the mastery of AI can lead to high-value job creation.
Patience is prescribed as an investment virtue, promoting the principle that enduring satisfaction and wealth come from steadfast confidence in forward-looking assets.
Chapters:
Timestamp Summary
0:00:05 Introduction and disclaimer
0:00:37 Investing in the future and the importance of productivity
0:02:58 Debt devalues assets in the industrial economy
0:04:39 Falling in love with old ideas and the need for evolution
0:06:34 Shorting the industrial economy and making investment decisions
0:08:15 Manipulating money and the need for a new system
0:10:07 The rise of Bitcoin and the gradual transition to a new economy
0:12:15 The importance of transitioning to new forms of currency and value
0:13:59 The evolution of labor and the role of artificial intelligence
0:14:37 The impact of AI on the job market and economy
0:15:40 The power of embracing AI and its potential for creating jobs
0:16:19 The definition and importance of patience
0:17:02 The correlation between likability, value delivery, and financial success
0:17:52 The value of being patient with investments and the future of digital currencies
0:19:03 The potential of Tesla, Bitcoin mining, and solving present-day problems
0:21:05 The potential of Bitcoin mining in building rural communities
0:22:36 The potential impact of AI on healthcare
0:23:33 The importance of embracing present-day facts and progress
0:24:02 Conclusion and call to action for embracing the new innovative world
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Friday Feb 02, 2024
Friday Feb 02, 2024
Key Takeaways:
The importance of starting early with financial planning and having an "end in mind" approach for life events, such as marriage or retirement.
Strategic engagement with professionals like estate planners, CPAs, and investment advisors can ensure financial security and pave the way for significant life decisions without the burden of financial stress.
The episode highlights the intertwined relationship between financial planning and relationship harmony, potentially reducing money-related conflicts.
Emphasizing emotional intelligence alongside financial planning is crucial for both a strong marriage and a robust financial future.
The episode encourages listeners that it is never too early or late to start planning and seeking advice from financial professionals.
Chapters:
Timestamp Summary
0:00:05 Introduction and disclaimer
0:00:37 Discussion about the importance of having a great team for financial planning
0:01:13 Example of a newly married couple planning for their future
0:02:24 Phillip shares a poem about the challenges of marriage
0:04:19 The couple’s proactive financial planning includes working with an estate planner and maximizing savings
0:06:34 Importance of cooperative planning and emotional intelligence
0:07:23 Contact information for Allison ReiffMartin
0:08:08 Conclusion and closing remarks
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Monday Jan 29, 2024
Monday Jan 29, 2024
Key Takeaways:
Shifting stances on target date funds can highlight a growing need for dynamic investment strategies in response to economic trends.
Financial overwhelm isn't exclusive to income levels; it's a state of mind that can be navigated through awareness and strategic planning.
Discussions on the power of faith and confidence often unravel the importance of detachment from conventional measures of success.
Recognizing that markets and industries are evolving is crucial, and adapting to these changes is essential for prolonged financial growth and stability.
The concept of the "grand auction" can be seen as a metaphor for market equilibrium and individual wealth growth within the evolving economy.
Chapters:
Timestamp Summary
0:00:38 Phillip discusses his recent blog post on target date funds and why he changed his opinion
0:01:59 The topic of the episode is overcoming financial overwhelm
0:02:32 Financial overwhelm can affect both those with too little money and those with too much
0:03:24 Being self-critical and comparing oneself to others are signs of financial overwhelm
0:04:37 Feeling content with a minimum standard of living indicates financial overwhelm
0:05:51 Comparative thinking and ascribing reasons to others’ success is a symptom of financial overwhelm
0:08:08 Overcoming financial overwhelm requires having faith and relying on imagination
0:09:08 Faith allows for the creation of new experiences and attracts cooperative people and opportunities
0:12:19 Markets are a reflection of collective mindsets and find equilibrium through a grand auction
0:13:26 The grand auction explains how markets determine prices and values
0:14:05 The market finds equilibrium through price discovery and self-discovery
0:16:10 Evolution of information, communication, entertainment, energy, food, and more
0:17:50 Regulation can hinder industry evolution and prevent market movement
0:21:09 Examples of companies evolving with new ideas and technologies
0:23:08 The value of old ideas lies in timeless principles
0:24:24 Navigating the market blindly leads to less return potential
0:24:50 Summary and conclusion
0:25:21 Disclaimer: Consult with a financial advisor before making investment decisions
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Friday Jan 26, 2024
Friday Jan 26, 2024
Key Takeaways:
Baby boomers hold ~$78.1 trillion in assets, with significant investments in equities, mutual funds, and real estate.
$7.9 trillion of boomers' assets are in businesses, presenting unique opportunities and challenges for business succession and sales.
Only 20% of businesses that go up for sale are purchased due to inadequate exit planning and value-building strategies.
Focusing on the Four Intangible C's—human, customer, social, and structural capital—is crucial for increasing a business's worth.
Business owners should regularly review their financials with an investor's perspective, considering operating income, net income, and cash flow to grow value efficiently.
Chapters:
Timestamp Summary
0:00:05 Introduction: Phillip Washington, Jr. is a registered investment advisor.
0:00:08 Disclaimer: Information presented is for educational purposes only and does not offer investment advice.
0:00:31 Important reminder: Past performance is not indicative of future performance.
0:00:37 Episode introduction: Wealth building strategies for baby boomers.
0:02:14 Baby boomer assets: $78.1 trillion invested in various ways.
0:03:23 Opportunity for Gen X and millennials to acquire businesses from baby boomers.
0:03:52 Challenges in selling businesses: Lack of exit planning.
0:05:14 Four intangible C’s to enhance business value: Human capital, customer capital, social capital, and structural capital.
0:06:20 Importance of considering the macroeconomic environment for business value.
0:09:05 Financial planning for businesses: Understanding operating income, net income, and cash flow.
0:11:20 Conclusion: 2024 is a promising year for business growth.
0:12:23 Disclaimer: Information presented is for educational purposes only and does not offer investment advice.
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Wednesday Jan 24, 2024
Wednesday Jan 24, 2024
Key Takeaways:
AI as a Catalyst for Change: AI functions as the harbinger of future knowledge, allowing us to capture and utilize extensive information, thereby enhancing productivity.
Evolutionary Perspective: Progress in humanity involves cycles of collective consciousness, leading to dispersion and the establishment of new collective foundations—a pattern expected to persist with the evolution of AI.
Economic Shifts and Opportunities: Anticipate economy-wide transitions that will generate substantial opportunities in digital goods, cybersecurity, and AI training, among other sectors.
Impact of AI on the Workforce: Contrary to job replacement fears, AI is poised to create new job categories and demand diverse skill sets, paralleling historical innovations like the printing press.
Harnessing AI's Potential: Proactively embracing and adapting to AI's growth is crucial for unlocking its benefits and mitigating associated risks in reshaping work processes and value creation.
Chapters:
Timestamp Summary
0:00:05 Introduction and disclaimer about the content of the video
0:00:37 Introduction to the topic of AI and its impact on jobs
0:01:50 Discussion on the optimistic and pessimistic perspectives on AI
0:02:23 Addressing concerns about AI taking away jobs
0:04:11 Historical examples of fear and control in relation to new ideas
0:05:55 Understanding the continuous evolution of humanity and collective consciousness
0:07:29 The importance of imagination and optimism in creating the future
0:09:22 Comparing AI to books and the codification of knowledge
0:10:04 Viewing humans as systems and the interaction between awareness and logic
0:12:56 Trusting the system and the role of humanity in managing it
0:13:31 The benefits of interacting with AI in enhancing intelligence
0:14:03 AI as a tool to unleash human potential and increase productivity
0:14:46 Practical jobs in the AI-driven future
0:15:40 Creating digital goods and services
0:16:43 Limited edition digital items through NFTs
0:17:30 Digital creators, gamers, and entertainers
0:18:21 Virtual attendance at events in the Metaverse
0:19:17 Importance of digital marketing and cybersecurity
0:20:32 Money management in a tokenized and digitalized world
0:21:42 AI trainers and co-creators for contextual understanding
0:22:34 Job opportunities in space exploration and robotics
0:24:00 In-person events for high earners and profit margins
0:25:21 Investing in automated workforces for new world economies
0:26:40 Embracing change and retooling for the new economy leads to abundance
0:27:22 In a perfect world, productivity brings down the cost of things
0:28:24 Human interference creates blockages and concentrations of power
0:29:05 Humans can’t stand in the way of progress forever
0:29:34 Governments can either support or stunt the growth of their people
0:32:35 The curve of humanity always slopes upward
0:32:42 Phillip Washington, Jr.’s disclaimer
0:33:09 Past performance is not indicative of future performance
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Monday Jan 22, 2024
Monday Jan 22, 2024
Key Takeaways:
Interest rates serve as a market communication tool, revealing the demand for money and investment opportunities.
Manipulation and regulation can distort the real picture reflected by interest rates; investors must discern the "fake news."
Real interest rates are the investor's tool for estimating purchasing power, balancing investment return expectations against inflation.
Negative real interest rates indicate a loss in purchasing power, advocating for strategic investment in growth-oriented assets.
The episode underscores the necessity of understanding market dynamics for asset allocation, surpassing inflation hurdles, and maintaining long-term wealth growth.
Chapters:
Timestamp Summary
0:00:05 Introduction and disclaimer about investment advice
0:00:38 Introduction to the newsletter and Stonehill Wealth Management
0:01:22 Importance of understanding interest rates in investing
0:03:45 Interest rates as a communication tool for investment opportunities
0:05:03 Manipulation of interest rates through oil prices and regulations
0:07:33 Impact of regulations on interest rates and government bonds
0:10:04 Market sentiment and its effect on interest rates
0:11:36 Real interest rates and calculating return expectations
0:13:09 Example of investing in US government bonds and calculating real interest rate
0:14:07 Conclusion and discussion on inflation rates
0:15:06 Real rates and purchasing power in the dollar-based system
0:15:42 Sophisticated investors value companies to jump the inflation hurdle
0:16:16 Valuing companies outside of the dollar system based on growth rates
0:17:07 Predicting the future of commerce and the role of various companies
0:18:03 Returns of different asset classes and currencies over the past year
0:19:14 Separation in net worth due to understanding interest rates
0:19:40 Disclaimer and closing remarks
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Friday Jan 19, 2024
Friday Jan 19, 2024
Key Takeaways:
An Employee Stock Ownership Plan (ESOP) is a valuable strategy for businesses to retain top talent and transition ownership effectively.
ESOPs are suited for companies with over 20 employees, consistent profitability, and low levels of debt.
The implementation of an ESOP can be costly; however, the tax benefits can greatly outweigh these costs if established correctly.
For business owners, ESOPs offer advantages such as significant tax deferrals, and they also play an essential role in employee motivation and engagement.
Selecting the right team of professionals to set up and administer an ESOP is crucial for adhering to regulatory requirements and maximizing benefits.
Chapters:
Timestamp Summary
0:00:37 Introduction to the topic of employee stock ownership plans (ESOP)
0:01:45 Discussion on the importance of keeping pace with the rate of change in the business world
0:03:30 Explanation of what an ESOP is and the requirements for setting it up
0:04:31 Benefits of ESOPs, including tax deferment and motivating employees
0:06:07 Comparison of ESOPs with 401(k) plans and the ability to mix investments
0:07:45 Highlighting the tax benefits of selling a business to an ESOP plan
0:08:28 Importance of distributing wealth and attracting top executives with ESOPs
0:10:01 Considerations for implementing an ESOP, including costs and compliance
0:10:56 Final thoughts on the power and advantages of ESOPs
0:11:57 Suggestion to sell part of a business to a younger executive team for growth
0:12:39 Transition strategy for 2024
0:13:05 Contact information for Allison Rife Martin
0:13:32 Disclaimer about investment advice
0:13:59 Past performance not indicative of future performance
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Monday Jan 15, 2024
Monday Jan 15, 2024
Key Takeaways:
Understanding the differentiation between the real economy (true value and productivity) and the financial economy (speculation and monetary manipulation).
In a perfect world scenario, productivity gains would equate to the interest rates that investors receive, with no additional risk.
The importance of investing in the new economy—areas that are aligned with the current and future trends of innovation and progress.
The government's role through debt growth and its impact on the financial market and investment strategies.
The value of conviction and the holding of investments through volatility in order to realize gains in the longer term.
Chapters:
Timestamp Summary
0:00:05 Introduction and disclaimer about the information presented
0:00:38 Introduction to the main topic: understanding the real economy
0:01:12 Recommendation of Ray Dalio’s book on how economies work
0:02:24 Highlighting the unbiased perspective of Ray Dalio’s book
0:03:03 Explanation of Ray Dalio’s expertise and influence in the financial world
0:04:19 Explanation of the ideal scenario in a risk-free world
0:05:19 Importance of AI in evaluating the logic of money
0:06:20 Differentiation between the real economy and the financial economy
0:08:03 Examples of industries with negative real returns
0:10:13 Importance of calculating the rate of money printing
0:11:55 Projection of debt growth rate at 12% based on current trends
0:13:14 Discussion on unproductive use of borrowed money by the government
0:13:49 Investing in opportunities that beat the growth rate of 12% or more
0:14:22 Old economy investments are decreasing, new economy investments are on the rise
0:15:10 Providing a service to the market by investing through volatility
0:16:01 Staying invested to help keep the train going and buying during bad years
0:16:59 Investing in the new best economy with strong conviction
0:17:32 The next decade will be great for those who believe in the real economy
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Sunday Jan 14, 2024
Sunday Jan 14, 2024
Key Takeaways:
Mental health is an ever-expanding concept that should be viewed positively, much like health in general or concepts of love and wealth.
Acknowledging and reversing the momentum of negative thoughts is essential, especially under pressure.
Martial arts training serves as a high-level chess game of human bodies, requiring intense mental discipline and awareness.
The influence of our childhood and environment shapes our thought processes and decisions in adulthood.
A good coach doesn't just teach technique but also helps reveal and nurture the potential within their trainees.
Chapters:
Timestamp Summary
0:00:02 Introduction to the documentary and the importance of mental health
0:01:15 The evolving understanding of mental health and stress
0:02:56 The importance of mental health for black men
0:04:16 Personal journey into caring about mental health
0:06:25 The role of mental health in physical healing
0:08:30 Being mindful and detached from expressions
0:10:33 The impact of fighting on mental discipline
0:12:21 The connection between thoughts and performance in fighting
0:12:59 The importance of reversing negative thoughts and acknowledging their momentum
0:13:26 How 80% of negative thoughts are false and never come to fruition
0:14:02 The fight or flight response and its impact on fear
0:14:39 The useless momentum of fear in modern society
0:15:13 Engaging in fear-driven thought processes versus shaping thoughts to become who you want to be
0:16:05 Overcoming the fear of not making enough money
0:16:35 The impact of childhood experiences on shaping thought processes
0:17:50 Overcoming the limitations imposed by a disadvantaged background
0:19:41 Mutual admiration and appreciation for each other
0:20:47 Helping awaken the power in others
0:22:09 Balancing toughness and empathy as a fight coach
0:23:09 Tailoring coaching approach based on individual fighters
0:24:29 Allowing fighters to make their own decisions and follow their own paths
0:25:28 Recognizing and avoiding ego-driven coaching that may limit progress
0:26:16 Ego-driven nature and the importance of not letting ego hinder progress as a coach
0:26:28 Learning from the coach’s ability to put ego aside and provide valuable feedback
0:26:57 Appreciating the coach’s guidance and improvement in kicking technique
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Friday Jan 12, 2024
Friday Jan 12, 2024
Key Takeaways:
Secure Act 2.0 introduces new exceptions to the early withdrawal penalty from retirement accounts for emergencies, domestic abuse victims, and individuals in disaster areas.
Tax relief for small businesses is expanded through increased tax credit benefits for 401k startup costs.
The allowance of up to a $1,000 penalty-free early withdrawal for personal emergencies opens the door for more flexible financial planning.
Significant changes within Secure Act 2.0 include provisions specifically designed to cater to the pressing needs of individuals facing domestic abuse or terminal illness.
Strategies discussed in the episode can lead to tangible tax savings and more robust financial planning, especially pertinent for small business owners and those facing unexpected life events.
Chapters:
Timestamp Summary
0:00:05 Introduction of Philip Washington, Jr., a registered investment advisor
0:01:42 Discussion on the Secure Act 2.0 and additional retirement opportunities
0:03:00 Explanation of new withdrawal rules for IRAs in case of personal emergencies
0:04:40 Highlighting the exemption of penalty for IRA withdrawals in cases of domestic abuse or terminal illness
0:05:11 Mention of the exemption of penalty for IRA withdrawals in qualified disaster recovery areas
0:05:56 Expansion of benefits for 401k startup costs, including tax credits
0:06:48 Contact information for Allison Reif Martin, CPA
0:07:24 Disclaimer and closing statements by Philip Washington, Jr.
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Wednesday Jan 10, 2024
Wednesday Jan 10, 2024
Key Takeaways:
Building wealth requires increasing total income in purchasing power relative to cost of living.
Purchasing power is separate from inflation and represents the rate of change or speed of progress.
The speed of progress varies depending on the currency and what you are buying.
In the next decade, the speed of change is predicted to be around 11% per year.
Investors should focus on industries that represent progress and optimism, such as public blockchains, gene sequencing, robotics, energy storage, and AI.
Chapters:
Timestamp Summary
[0:00:37] Introduction to the topic of improving the value of your balance sheet
[0:01:11] Explanation of assets and liabilities in a balance sheet
[0:03:19] Discussion on purchasing power and its relation to inflation
[0:07:22] The minimum rate of change needed to maintain purchasing power
[0:08:33] Explanation of deflationary factors in the current economic climate
[0:10:02] Comparison of individuals on different paths in the changing world
[0:11:08] Government intervention and the wealth gap
[0:11:49] The role of government in managing inflation
[0:11:52] Encountering rude individuals when you’re happy
[0:11:55] Conclusion and end of the conversation
[0:11:49] Bullies are attracted to happy people, teach kids to deal with them
[0:13:04] Governments print money to help people, but it creates problems
[0:14:43] Choose the right “arc” to invest in for the future
[0:15:17] Value is attracted to optimism, follow the pattern of progress
[0:18:14] Areas of opportunity: public blockchains, gene sequencing, robotics, energy storage, AI
[0:20:00] Wealth gap is due to few people in cutting-edge industries
[0:21:39] Blaming the rich won’t solve the wealth gap issue
[0:22:13] Embrace progress or lose privileges in a cooperative world
[0:23:43] Don’t be on the wrong side of progress, embrace change
[0:24:24] Philip Washington, Jr. on the historical state of the universe
[0:24:35] Disclaimer about the information presented
[0:25:02] Past performance not indicative of future performance
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Monday Jan 08, 2024
Monday Jan 08, 2024
Key Takeaways:
Understanding purchasing power is crucial for successful investing.
The value of investments should be measured relative to a metric that can't be manipulated by a central authority.
Long-term investments should aim to outperform the hurdle rate and protect against the devaluation of currency.
Chapters:
Timestamp Summary
[0:00:37] Introduction and sponsorship information
[0:02:09] Discussion on the importance of understanding valuations and inflation
[0:03:32] Comparison of the current economic situation to the UK in the 18th and 19th centuries
[0:05:17] Explanation of using the average price of a US home as a baseline for investment projections
[0:07:20] Projection of home price growth and its impact on purchasing power
[0:09:05] Comparison of investment options such as S&P, Bitcoin, and bonds
[0:11:23] Evaluation of the impact of investing in bonds on purchasing power
[0:12:33] Evaluation of the potential growth of investments in Bitcoin and company equity
[0:13:18] Importance of pricing net worth in terms of purchasing power
[0:13:55] Comparison of current billionaires to millionaires in the 1920s
[0:14:25] Comparing the wealth of John D. Rockefeller and Elon Musk
[0:14:54] Importance of considering currency and its value in investments
[0:15:22] Investing long term money that grows significantly above the hurdle rate
[0:15:53] Avoiding the “money printing tax” by investing wisely
[0:16:24] Disclaimer and advice on consulting financial professionals before implementing strategies
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Friday Jan 05, 2024
Friday Jan 05, 2024
Key Takeaways:
Beneficial ownership interest reporting is a compliance requirement under the Corporate Transparency Act to increase visibility into business ownership.
Most small to medium-sized businesses, especially limited liability companies and C corporations with fewer than 25 employees, are obligated to report their beneficial ownership interests.
The filing process involves providing basic information and supporting documentation to prove identity.
Existing businesses have until January 1, 2025, to complete the initial report, while new entities have 90 days from the date of setup.
Changes in ownership or contact information must be reported within 30 days.
Chapters:
Timestamp Summary
[0:00:05] Introduction to beneficial ownership interest reporting
[0:01:11] Compliance requirement by FinCEN under the Corporate Transparency Act
[0:02:46] Reporting requirements for limited liability companies and C corporations
[0:04:07] Information required for reporting: name, address, date of birth
[0:05:34] Deadlines for existing businesses and new entities to comply
[0:06:39] Reporting changes in ownership or personal information
[0:08:24] Future potential for AI to automate compliance processes
[0:09:40] Contact information for Allison Reif Martin, CPA
[0:10:19] Closing remarks and disclaimers
[0:10:23] Disclaimer about past performance not indicative of future performance
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Friday Dec 29, 2023
Friday Dec 29, 2023
Key Takeaways:
The average age of a business owner is 42, indicating a shift towards entrepreneurship at a younger age.
Only 34% of business owners have a formal plan for their exit strategy, highlighting the need for more proactive planning.
Writing down your goals increases the likelihood of achieving them and provides clarity for building the right team.
Regularly reviewing financials is essential for tracking progress towards financial goals and growing the value of a business.
Embracing chaos and learning from failures is crucial for adapting and evolving in business.
Finding the right team of professionals, such as a CPA and wealth advisor, can provide guidance and support in achieving financial goals.
Chapters:
Timestamp Summary
[0:00:45] Introduction and discussion about planning ahead for businesses
[0:01:41] Importance of having an exit plan for business owners
[0:03:32] Only 34% of business owners have a formal plan for exiting their business
[0:04:51] Regularly reviewing financials and adjusting the plan as needed
[0:06:12] Handling setbacks and failures by iterating and adjusting the plan
[0:07:16] Finding the right team to help achieve business goals
[0:08:49] Overcoming the fear of sharing the plan with others
[0:10:29] Embracing chaos and allowing the team to break apart the plan
[0:11:30] Excitement for the upcoming year and wishing a happy new year
[0:11:56] Conclusion and contact information
[0:11:47] Allison wishes Philip a happy new year
[0:11:56] Philip asks for Allison’s contact information
[0:12:00] Allison provides her website and email address
[0:12:12] Philip thanks Allison and wishes her a great day
[0:12:15] Disclaimer about investment advice and risk
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Wednesday Dec 27, 2023
Wednesday Dec 27, 2023
Key Takeaways:
Privately held companies represent a significant portion of the economy, with over 80% of businesses having 20 employees or less.
The majority of businesses make less than a million dollars in revenue, presenting an opportunity for individuals to acquire profitable businesses in the one to $20 million revenue space.
Financing options, such as SBA loans, allow individuals to acquire businesses with a minimal equity investment.
Buying an established business provides the opportunity to leverage existing cash flow and growth potential, rather than starting from scratch.
Marketing and technology play a crucial role in increasing the value of a business and attracting potential buyers.
Chapters:
Timestamp Summary
[0:00:38] Introduction of Xavier Egan and his background
[0:03:30] Discussion on the wealth transfer happening in small businesses
[0:05:52] Importance of the one to $20 million revenue space
[0:07:18] Generational shift and the opportunity for buyers
[0:08:45] Potential consolidation and mergers in the market
[0:09:23] First step for buying a business
[0:10:33] Access points for individuals in private equity
[0:11:21] Starting with smaller valued companies for growth opportunities
[0:11:21] Starting with smaller valued companies as a transition tool
[0:12:02] Using traditional terms like SBA loans for financing
[0:13:18] Cash flow is key in business capitalization
[0:14:41] Importance of generating income and cash flow in a business
[0:15:55] Transitioning to a profitable established business
[0:18:18] Ensuring a comfortable exit strategy for business owners
[0:19:56] Thinking of a business as an investment instrument
[0:21:26] Understanding the need for active investments and planning for retirement
[0:21:56] Evaluating the value of a business and its potential for growth
[0:21:56] Importance of understanding the value of a business
[0:22:47] Buying a business for its consistent performance
[0:23:48] Leveraging other people’s money to buy a bigger company
[0:24:35] Getting regular evaluations for succession planning
[0:25:11] Difference between price and value of a business
[0:26:30] Buying a business for guaranteed growth
[0:27:11] The importance of marketing and technology in businesses
[0:28:55] The role of technology in creating more value
[0:29:14] Robert Smith’s success in private equity
[0:30:10] Alternative investment opportunities in buying businesses
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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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Monday Dec 25, 2023
Monday Dec 25, 2023
Key Takeaways:
Regularly reviewing your financial and estate plan can help you expand and improve your financial trajectory.
Focusing on the details and making adjustments can ensure that your plan aligns with your goals.
Confidence and energy are essential in the wealth management process, and reviewing your plan can boost both.
Key areas to review include investments, cash flow planning, and estate planning.
Communicating your estate plan to your family and team is crucial for a seamless transition.
The planning process is not just about achieving goals, but also about the fun and satisfaction of solving problems and improving your trajectory.
Chapters:
Timestamp Summary
0:00:38 Introduction to the benefits of reviewing financial and estate plans
0:01:52 Importance of feeling good and having confidence in your plan
0:03:46 Comparison of wealth management process to working with a partner
0:06:04 The value of focusing on your financial and estate plan
0:07:25 Reviewing your plan to raise confidence and energy
0:08:48 Areas to review: investments, balance sheet, cash flow, estate plan
0:10:42 Importance of reviewing and updating your estate plan
0:11:49 Treating estate plan review like a board meeting
0:12:05 Considering the financial plan behind the legal documents
0:12:05 Conclusion and wrap-up of the discussion
0:11:48 Importance of financial plan in estate planning
0:12:35 Succession plan crucial for business survival
0:13:17 Case study on estate planning strategy
0:14:50 Life insurance as a tax-saving option
0:15:30 Importance of reviewing financial and estate planning regularly
0:16:40 Fun in the journey of financial planning
0:18:05 Financial planning as a problem-solving process
0:18:25 Conclusion and closing remarks
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Follow Philip Washington, Jr. on Instagram (@askphillip)
Subscribe to Wealth Building Made Simple newsletter
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Thank you for checking out our free content on financial planning, the wealth mindset, and investing in innovation. If you've found value in our blog posts, I invite you to take your knowledge and commitment to the next level. Sign up for our premium paid newsletter today and receive daily insights and expert analysis directly in your inbox. Stay ahead of the curve and unlock the secrets to financial success. Don't miss out on this opportunity to deepen your understanding and gain an edge in the world of finance. Join our premium community now and embark on a journey towards financial abundance and investment excellence. Sign up today and let's grow together!
WBMS Premium Subscription
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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Friday Dec 22, 2023
Friday Dec 22, 2023
Key Takeaways:
Plan ahead and create a checklist to ensure all necessary steps are taken.
Assemble a team of professionals, including a CPA, wealth advisor, and planning attorney.
Have a formal plan for the future of the business, including retirement and succession.
Regularly review financials and key performance indicators to track progress and identify areas for improvement.
Strive to create a business that can operate independently of the owner.
Chapters:
Timestamp Summary
[0:00:05] Introduction and disclaimer about the educational nature of the podcast
[0:00:39] Discussion about the movie “Home Alone” and its status as a Christmas classic
[0:01:26] Drawing parallels between the movie and the importance of planning ahead for business
[0:02:37] Emphasizing the need for a checklist and having the right team in place for business success
[0:03:47] Highlighting the importance of having a formal plan and protecting the business
[0:04:56] Discussing the need for standard operating procedures and regularly checking in with the team
[0:06:08] Exploring the mindset of a business owner and investor for enhancing business value
[0:07:20] Stressing the importance of extricating oneself from the business for increased value
[0:08:13] Contact information for discussing exit planning and financial strategies
[0:09:05] Closing disclaimer about consulting with a qualified advisor or professional
Powered by ReiffMartin CPA and Stone Hill Wealth Management
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Follow Philip Washington, Jr. on Instagram (@askphillip)
Subscribe to Wealth Building Made Simple newsletter
https://www.wealthbuildingmadesimple.us/
Thank you for checking out our free content on financial planning, the wealth mindset, and investing in innovation. If you've found value in our blog posts, I invite you to take your knowledge and commitment to the next level. Sign up for our premium paid newsletter today and receive daily insights and expert analysis directly in your inbox. Stay ahead of the curve and unlock the secrets to financial success. Don't miss out on this opportunity to deepen your understanding and gain an edge in the world of finance. Join our premium community now and embark on a journey towards financial abundance and investment excellence. Sign up today and let's grow together!
WBMS Premium Subscription
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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Monday Dec 18, 2023
Monday Dec 18, 2023
Key Takeaways:
Valuation of a business depends on tangible and intangible assets, creativity, and market perception.
The market follows a mental pattern that evolves over time.
Businesses need to adapt to changing times and integrate new technologies to increase their value.
Digital products and services have higher profit margins and are more attractive to the market.
Businesses that have not renovated and adapted to the current market trends are less valuable.
Chapters:
Timestamp Summary
[0:00:05] Introduction to Philip Washington, Jr. as a registered investment advisor
[0:00:08] Disclaimer about the purpose of the information presented
[0:00:31] Past performance not indicative of future performance
[0:00:38] Introduction to the topic of what affects the value of a business
[0:02:01] Discussion on understanding the tangible and intangible assets of a business
[0:03:05] The market as a collective consciousness and its impact on valuation
[0:04:00] Foundational principles of change and evolution in the market
[0:05:00] The market’s search for change and creativity
[0:06:10] Examples of industries that the market values
[0:09:57] Importance of investing in companies that align with market trends
[0:10:22] Artificial intelligence and robotics in service teams.
[0:11:02] The impact of physical products in a world moving towards inflation.
[0:11:30] The profitability and scalability of digital products.
[0:12:18] The value of businesses offering digital products alongside physical products/services.
[0:12:55] The changing nature of entertainment and its impact on valuation.
[0:13:21] Factors beyond numbers that affect the value of a business.
[0:14:37] The need to update and renovate businesses for the current times.
[0:15:58] Businesses that fail to adapt lose value over time.
[0:16:23] The importance of staying current to maintain business value.
[0:16:25] Closing remarks and disclaimer.
Powered by Stone Hill Wealth Management
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Follow Philip Washington, Jr. on Instagram (@askphillip)
Subscribe to Wealth Building Made Simple newsletter
https://www.wealthbuildingmadesimple.us/
Thank you for checking out our free content on financial planning, the wealth mindset, and investing in innovation. If you've found value in our blog posts, I invite you to take your knowledge and commitment to the next level. Sign up for our premium paid newsletter today and receive daily insights and expert analysis directly in your inbox. Stay ahead of the curve and unlock the secrets to financial success. Don't miss out on this opportunity to deepen your understanding and gain an edge in the world of finance. Join our premium community now and embark on a journey towards financial abundance and investment excellence. Sign up today and let's grow together!
WBMS Premium Subscription
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 purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
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