Wealth-Building Made Simple

Summary
 
As people are living longer, many individuals find themselves in a position where they need to financially support their aging parents. While this can be a challenging conversation to have, it's important to approach it with empathy and understanding. Here are some practical tips for supporting aging parents financially while also managing your own finances:1. Open and honest communication: It's important to have open and honest conversations with your parents about their financial situation. This can be a sensitive topic, so approach it with empathy and understanding. Listen to their concerns and work together to find solutions that work for everyone involved.2. Explore financial assistance programs: There are many financial assistance programs available for seniors, such as Medicaid and the Supplemental Nutrition Assistance Program (SNAP). Research these programs to see if your parents are eligible and can benefit from them.3. Downsizing: If your parents are living in a large home and struggling to maintain it, downsizing may be a viable option. This can help reduce their expenses and free up funds for other necessities.4. Consider hiring a financial advisor: A financial advisor can provide guidance on how to manage your own finances while also supporting your aging parents. They can help you create a financial plan that takes into account your parents' needs and your own financial goals.5. Set boundaries: While it's important to support your parents, it's also important to set boundaries. Make sure you're not sacrificing your own financial stability to support them. Have a frank conversation about what you can and cannot afford to do, and work together to find a solution that works for everyone involved.Supporting aging parents financially can be a challenging and emotional experience, but with open communication, empathy, and practical solutions, it's possible to find a balance that works for everyone involved.
Chapters
 
| **Timestamp** | **Summary** || ------------- | ----------- || 0:00:01 | Introduction to the podcast and sponsor || 0:00:46 | Introduction to the topic of supporting aging parents, paying bills, and saving for the future || 0:01:10 | Introducing the Wealthbuildingmadesimple.us newsletter || 0:01:38 | The importance of managing emotions when dealing with financial stress || 0:02:30 | The burden on retirees due to rising costs and fixed incomes || 0:03:33 | The importance of maintaining a positive emotional state when helping aging parents || 0:04:05 | The need to see parents as equal and capable of providing for themselves || 0:04:51 | Communicating faith in parents' abilities to provide for themselves || 0:05:42 | Seeing parents as equal and maintaining a positive emotional state when helping them financially || 0:09:11 | Emotional state is 99% of the problem in financial planning; merging households is a good solution || 0:10:17 | Reminder to seek professional advice before implementing any strategies |
Quotes
- "You want to help your family, and there's a way to help your aging parents." - "If you stay in the emotional state where you perceive your parents as needing you and you being their source of security, that's going to create an unbalanced relationship."- "You can help your parents but also see them as equal and having the ability to provide for themselves."
 
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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.

Summary
 
In this episode of Wealth Building Made Simple, Phillip discusses the evolution of global economic systems and the potential for Bitcoin to become the foundation for a new financial system. He highlights successful components of past systems, such as the Venetian network's extensive trade network and innovative banking idea of double entry bookkeeping, the Dutch's use of joint stock companies and a stock market, the UK's successful management of currency and long period of low inflation due to their strict adherence to the gold standard, and the US's innovation in its democratic system, which fosters a culture of innovation and reinvention. The new world being built is a globally connected internet economy, and the financial system of this economy is crypto, particularly Bitcoin. Bitcoin has the potential to become the gold of this system due to its transparency and decentralized nature. It incorporates the successful components of past systems, such as transparent bookkeeping and a lack of central authority, while also being limited in supply like gold.  It’s Phillip’s belief that Bitcoin will be the anchor asset and the most creditworthy coin, serving as the pristine collateral of the digital financial system being built. Bitcoin will operate as the gold to where, if different people trade in different currencies like ethereum, US dollars, Yuan,  or whatever, and things out of whack, Bitcoin will be the asset that people are most willing to lend and settle against. Banks will lend in different currencies, but Bitcoin will be the most trusted currency. Understanding how the system works and the mechanisms behind it will reveal why so much building is going into Bitcoin. While Bitcoin won't be the only currency, it will play a role similar to gold as the pristine collateral of the digital financial system being built.
 
Chapters
 
| **Timestamp** | **Summary** || ------------- | ----------- || 0:00:01 | Introduction to the podcast and sponsor || 0:00:44 | Introduction to the topic of a world with bitcoin at the center || 0:01:18 | Explanation of emotional intelligence and promotion of Wealthbuildingmadesimple.us newsletter || 0:02:38 | Overview of global financial systems throughout history, starting with the Venetian network and double entry bookkeeping || 0:04:21 | Discussion of the Dutch and their extensive trade network and empire || 0:05:15 | Discussion of business competition and the evolution of innovation in financial systems || 0:05:59 | Explanation of the UK's management of currency and use of the gold standard || 0:07:02 | Discussion of the US's culture of innovation and democracy || 0:07:30 | Explanation of the hyperconnected internet economy and the innovation of crypto || 0:09:10 | Introduction to bitcoin as the epitome of transparency in the digital world || 0:10:26 | Discussion of Bitcoin as a credit-worthy coin and its role as an anchor asset || 0:13:10 | Bitcoin's role as the pristine collateral of the digital financial system being built |
Quotes
**(0:09:45)** "Bitcoin, it's a super transparent system."**(0:10:26)**"It builds upon the lessons from all the previous generations into a currency, but it doesn't mean it's not going to be other currencies."**(0:11:02)**"And what's the most consistent currency to date? Gold, because it's lived through every economy, because it can't be changed. So then you go to internet currency and you go, all right…Which one has the biggest network and can be changed the least? It's Bitcoin."**(0:12:35)**"Because what ends up happening is if somebody wants to lend me money in whatever currency and they want collateral and I got Bitcoin, they'll lend me whatever currency I want against the Bitcoin because it will be the most trusted currency."
 
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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.

SummaryThis conversation was focused on the advantages of investing in a franchise. This investment is not for the faint of heart and requires a significant amount of liquid cash. However, the payoffs are worth it if the franchise is a product that the investor is passionate about and the market desires. 
 
Investing in a franchise is also kind of like investing in a bond portfolio. Additionally, they discussed some of the other advantages of franchising being, shared purchasing with other franchisees, access to technology, and assistance with finding the best locations for the business. Overall, investing in a franchise can be a great way to become an entrepreneur and have some back support while still having the freedom to be creative with the business.
Chapters
 
0:00:01
Heading: Exploring the Franchise Model with Smoothie King: Cool Drinks and Smoothie Bowls for Summertime
0:02:00
Discussion of Smoothie King Franchise Business Model
0:03:57
Conversation Summary: Investing in a Franchise Model
0:11:59
Heading: Leveraging Bank Money to Make Money with a Franchise Model
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Social Media Handles 
Follow Philip Washington, Jr. on Instagram (@askphillip)
Subscribe to Wealth Building Made Simple newsletter (https://wealthbuildingmadesimple.us/subscribe/)
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.

Summary
The cost of weddings has become exorbitant and often stems from a desire to recreate the feeling of other weddings the bride and/or groom previously attended. Before entering into such an emotionally charged expense, it's important to ensure that one's emotional state is in the right place. Rather than focusing on impressing others, focus on the feelings you want to experience during the wedding and own those feelings internally. By doing so, you can avoid becoming enslaved to debt and make financial decisions that align with your current financial resources. 
 
The key is to own the feeling internally and not need a specific experience to fill an emotional void. The opposite creates unbalance, stress, and leads to debt or overspending.  Meditation, visualization, and journaling help with the emotional balance necessary to keep those insecure (unbalanced) feelings in check. The ceremony has no impact on the ongoing feeling of a marriage, and overspending on a wedding can put unnecessary stress on a marriage.  
 
Chapters
 
| **Timestamp** | **Summary** || ------------- | ----------- || 0:00:01 | Introduction to the podcast and topic of saving for a wedding || 0:00:29 | Disclaimer and investment advice || 0:01:15 | Introduction to Wealthbuildingmadesimple.us newsletter || 0:01:58 | Discussion of the high cost of weddings || 0:02:41 | Emphasizing the emotional aspect of weddings || 0:03:27 | Recreating the feeling of a wedding || 0:04:07 | Importance of owning the feeling before the wedding || 0:04:43 | Feeling beautiful and appreciating oneself || 0:05:16 | Owning the feeling and practicing it makes planning easier || 0:06:10 | The importance of owning the feeling and not the experience || 0:06:52 | Don't worry about what others think and focus on yourself || 0:07:28 | The ceremony has no impact on the ongoing feeling of marriage || 0:08:35 | Get the emotional state from owning the feeling, not the thing || 0:09:23 | Acting out of obligation creates stress and leads to debt || 0:09:57 | Information about complimentary consults for portfolio review || 0:10:33 | Disclaimer and investment advice |
Quotes
 
**(0:04:07)** "If you just learn to just own the filling first, it lets you think clearly so that you can go the path that's right for you given where you are right now." **(0:06:10)** "Once you own the feeling, you can have your wedding in a shack or a big castle, it doesn't matter because it's going to be fun."**(0:06:52)**"Everybody who I have met that's been married, that look back and they go, man, the ceremony was good or it was bad, but with hindsight it wasn't as big of a deal (long term emotional high) as we thought it was going to be… As a matter of fact, depending on if we got into debt for it, it might have put some unnecessary stress that we had to overcome for years in the marriage.  That pattern of thinking expressed itself in the marriage, then in the house that we bought, then in our monthly expenditures because we were always searching for the feeling in things versus owning the feeling and allowing, wherever we are in satisfaction to appreciate the feeling and allow it to expand because it's going to expand…it can't help itself." **(0:08:35)**"Get the emotional state from don't look for the feeling that you want in the thing because it's not going to come in a thing."**(0:09:23)**"I call it acting out of obligation.  You “have to” have 300 people on the  list, right? I feel if I don't invite these 100 people, they're going to be bad. Who gives a shit? You know what I mean? They will be mad for a day or two and then they'll forget about it."Social Media Handles 
Follow Philip Washington, Jr. on Instagram (@askphillip)
Subscribe to Wealth Building Made Simple newsletter (https://wealthbuildingmadesimple.us)
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.

Summary
 
It’s important to catch small issues early on to avoid costly repairs in the future. With short term rentals, hosts have the opportunity to inspect the property after each guest leaves and address any issues before the next guest arrives. This is unlike traditional rentals where tenants may be less inclined to report minor issues, leading to bigger problems down the line. Hosts often charge a cleaning fee to guests, with some hosts charging the full fee while others charge a partial fee.
 
It is important to create a unique experience for guests. Finding a property with unique details that can be highlighted helps enhance that experience as well. There is no potential limit to what hosts can charge for their short term rentals as long as the experience matches the expense. Additionally, hosts can rent out rooms in their homes or designate a section of their homes for short term rentals, providing even more opportunities to earn extra income.
Chapters
 
| **Timestamp** | **Summary** || ------------- | ----------- || 0:00:01 | Introduction to the episode and sponsor || 0:00:28 | Disclaimer about investments || 0:00:45 | Introduction to the topic of maintaining a short-term rental || 0:01:20 | Comparison of maintenance for short-term rentals vs. standard rentals || 0:03:30 | Personal experience with maintaining short-term rentals || 0:04:43 | Cleaning process for short-term rentals || 0:05:28 | Importance of finding a reliable cleaning service || 0:05:30 | Charging cleaning fees to guests || 0:07:07 | Additional fees that can be charged on Airbnb || 0:07:29 | Potential for unlimited income with short-term rentals || 0:08:35 | Importance of finding unique details to enhance guest experience || 0:09:40 | Possibility of cities and HOAs changing to allow short-term rentals || 0:10:29 | Renting out rooms in your home as a short-term rental || 0:10:42 | Contact information for Rob, the Realtor |
Quotes
 **(0:01:32)** "With short term rentals, you have the ability to get in the house every time a guest leaves."**(0:08:00)**"There is no limit to what you can potentially charge for short term rentals. So if your experience matches the expense that you charge, people will pay it."
 
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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.

Summary
 
The way to break the cycle of living paycheck to paycheck by changing one's mindset. Living paycheck to paycheck is a feeling of insecurity and dissatisfaction with one's financial situation. The key to breaking this cycle is to first appreciate and own what you have and find satisfaction in it. By finding something positive in your job or situation, individuals can open themselves up to opportunities that will bring them more satisfaction and abundance in the future. Once you identify what you love about what you’re doing, it becomes easier to sort through options and find opportunities that will add to the feeling you already own. 
 
Emotional intelligence is the key to filling the void that material possessions cannot fill. By teaching children to be emotionally intelligent, they can learn to become self-sufficient and happy throughout their entire lifetime.  The combination of satisfaction, faith in the future, and intuition is the energy necessary to take the strong action needed to achieve one's goals with joy and ease. 
 
Chapters
 
| **Timestamp** | **Summary** || ------------- | ----------- || 0:00:01 | Introduction to the episode and sponsor || 0:01:20 | Living paycheck to paycheck is a mindset of feeling insecure and unsatisfied || 0:02:14 | Breaking the cycle of living paycheck to paycheck by owning and appreciating what you have || 0:03:40 | Example of points of frustration that add up to living paycheck to paycheck || 0:04:20 | Finding something positive about your job to focus on || 0:05:29 | Find satisfaction first before seeking another job opportunity || 0:05:57 | Appreciate what you have to find satisfaction and opportunities || 0:07:02 | Animals communicate through feelings, humans should too || 0:08:05 | Doing what you love leads to success and wealth || 0:09:03 | Teaching emotional intelligence to children is more important than material possessions || 0:10:14 | Relying on intuition and feelings fine tunes opportunities for success |
Quotes
**B-(0:04:20)**> "Because it appears that the job is the problem, but really the problem is your mindset."**B-(0:05:29)**> "Before you even try to effort your way into another job, first find satisfaction where you are."**B-(0:07:33)**> "We speak languages, we can write and read, so we ignore the feeling aspect of how we communicate. But most of communication is feeling. Most of the time when you do something, you don't know why, because a feeling triggers you, so what I'm saying in this example is once you get the feeling of how you want your dream job to feel, then it's easier to sort through all the options because you're just looking for something that feels like that."**B-(0:08:05)**> "Once you're doing something you love, the money will come because the level of whatever you need to do from an action standpoint becomes easier and lighter because you're loving every aspect of what you're doing. Then it doesn't feel like work.  Whenever you're in a position where it doesn't feel like work, that's when the money starts really rolling in."**B-(0:09:03)**> "Instead of trying to fill their void (kids)  with stuff, let me fill their void with emotional intelligence.  It becomes more important to me to teach them to be emotionally intelligent, because that's what I've learned, provides the stuff."**B-(0:09:36)**> "And then your spouse who you're with. The good part about having a spouse is you learn more from each other, just from observation. You don't even have to teach your spouse anything. Just by the nature of how you feel, you begin to rub off on each other, and they will, over time, begin to see what's happening and feel the way you feel. Then all the need to keep up with the Joneses goes away."
 
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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.

Summary
Energy (and money) flows from areas of heavy concentration to areas of lower concentration on its path to find equilibrium.  Phillip believes that one of the smartest things to do is to bet on women businesses, as women have been historically underfunded when it comes to money. We are moving into the age of women and that women will be appreciated more as the world shifts its belief system and focus. This shift will likely bring balance to the underinvestment of energy or money for generations. This means that things will become more balanced, and it will get harder for those who rely solely on their identity. Moving forward, individuals will have to operate on merit because the playing ground is becoming more equal everyday.
 
Chapters
 
| **Timestamp** | **Summary** || ------------- | ----------- || 0:00:01 | Introduction to the podcast and sponsor disclaimer || 0:00:44 | Shoutout to the team and reaching 100,000 downloads || 0:01:56 | Purpose of the newsletter and emotional intelligence || 0:05:41 | Introduction to the topic of the podcast: The Age of Women || 0:06:22 | Explanation of energy and concentration || 0:07:35 | Money flows to lower concentrated areas || 0:08:08 | Bet on women businesses || 0:09:22 | Women have been underfunded || 0:11:01 | Moving into the age of women || 0:12:08 | Women in sports and investing against perception || 0:13:50 | The underinvestment of energy and money for generations will flow, but this is not a threat to men. The playing ground is becoming equal, and identity alone will no longer provide an advantage. |
Quotes
 **B-(0:07:26)**"Women are the new age. And I'm not saying that to be cute. I'm saying that because it's a fact."**B-(0:08:38)**"The way energy works is it's going to distribute and diversify and then keep rebuilding...Whether it's the (morally) right thing to do or the wrong thing to do, from your perspective, it's just a smart thing to do is to bet on women in my opinion."**B-(0:09:01)**"So if you're looking for where the money's going to be made, where the opportunities are going to be, it's going to be with women."**B-(0:09:22)** "Women have been underfunded when it comes to money for, like I mean, since, like, Cleopatra era."**B-(0:14:24)**"What that also means is if you're just a cog in the wheel and you were relying just on your identity, it's going to get harder for you.  Meaning just because of your identity before, because you were a white Christian male in the Western world, at a macro level, gave you a leg up.  That leg up is gone. Moving forward now, you have to actually operate on merit as the playing ground is becoming more equal."
 
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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.
 
 

Summary
Smoothie King is a successful franchise model that has been in business for over 40 years. The company has had two CEOs, with Wan Kim taking over in 2012 and driving the company's success. Kim's background in process efficiency and profitability has helped him to grow the franchise and make it the number one franchise in the US for ten years running. Kim has surrounded himself with a strong management team, including Camille Hymes, who will become the new chief operating officer in June 2023. Hymes has experience in food service and franchise models from her time at Starbucks and Jack in the Box. Smoothie King's goal is to expand its presence internationally and improve the customer experience. The company is also looking to lower the barriers to entry for potential franchisees, making it easier for them to invest in the brand. Smoothie King may be working to become a hangout spot, similar to Starbucks, where customers can enjoy a healthy drink and spend time with friends. The company is also allegedly implementing automated drive-through models, which will make it more accessible to a wider range of people. Smoothie King's success is also due to its focus on innovation. The company is always looking for ways to improve its products and services, such as introducing new flavors and ingredients. This keeps customers interested and engaged, and helps to differentiate the brand from its competitors. Overall, Smoothie King's success is driven by a strong management team led by Wan Kim, who focuses on sales growth, franchisee growth, and profitability. By expanding internationally, improving the customer experience, and implementing drive-through models, Smoothie King can attract more customers and build brand loyalty. As the trend towards healthy options and socializing continues to grow, Smoothie King is well-positioned to capitalize on these trends and continue to be a successful franchise model for years to come.
 
Chapters
 
| **Timestamp** | **Summary** || ------------- | ----------- || 0:00:01 | Introduction to the podcast and sponsor || 0:00:48 | Introduction to the episode || 0:01:34 | Smoothie King's CEOs || 0:03:25 | Wan Kim's success and management team || 0:04:29 | New COO Camille Hymes and her background || 0:05:29 | Smoothie King's goal to make it easier to become a franchisee || 0:06:41 | The investment required to become a franchisee || 0:07:11 | Smoothie King's drive-through models || 0:08:25 | The potential for automation in franchises |
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Follow Philip Washington, Jr. on Instagram (@askphillip)
Subscribe to Wealth Building Made Simple newsletter (https://wealthbuildingmadesimple.us/subscribe/)
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.

Overview
Phillip breaks down the topic of losing money in investments into two categories: permanent loss and short-term loss. He emphasizes the importance of having the right mindset when dealing with losses and learning from them to grow and expand.
Timestamped Chapter Summary
Introduction of the topic (0:00:01)
Mindset and learning from losses (0:02:17)
Overcoming permanent loss (0:03:02)
Short-term loss and the importance of mindset (0:04:48)
Learning process and building confidence (0:06:16)
The importance of investing on principles (0:06:43)
Finding the principle and building confidence (0:07:16)
Connecting the dots and having faith in the principle (0:08:05)
The market reflects the mindset of the collective (0:08:36)
Investing on principles and the learning process (0:10:30)
Your wealth comes from you (0:11:32)
Relevant Links and Resources
Wealth Building Made Simple Newsletter (https://wealthbuildingmadesimple.us/)
Stone Hill Wealth Management (https://stonehillwealthmanagement.com/)
Quotable Phrases and Takeaways
"The wealth that I'm going to attain comes from my mindset." (0:03:02)
"There's a learning process for everybody. It's part of how we expand. It's part of how you grow." (0:05:21)
"Don't beat yourself up. You learn. Move forward." (0:06:16)
"Invest in principles. And when you make a mistake, don't live in it. Move forward. Know it's part of the process." (0:10:30)
"Your wealth comes from you because you are the wealth." (0:11:32)
Social Media Handles 
Follow Philip Washington, Jr. on Instagram (@askphillip)
Subscribe to Wealth Building Made Simple newsletter (https://wealthbuildingmadesimple.us/subscribe/)
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.

Summary Notes:
Here are some key considerations to keep in mind when purchasing a short-term rental property:
 
Location: The location of the property is crucial as it can impact the demand for short-term rentals, the rental rates, and the occupancy rates.
 
Local Regulations: Research the local regulations and zoning laws to ensure the property can legally be used as a short-term rental.
 
Property Management: You'll need to consider how you plan to manage the property, whether you'll hire a property manager or handle it yourself.
 
Renovations and Furnishings: Depending on the condition of the property, you may need to invest in renovations and furnishings to make it appealing to short-term renters.
 
Market Demand: Analyze the local short-term rental market to determine if there is a demand for rental properties in the area.
 
Financing: Consider the financing options available to you, including mortgage rates, loan terms, and down payment requirements.
 
Profitability: Calculate the potential income and expenses associated with owning a short-term rental property to determine if it will be profitable.
Timestamps
0:01:27 Conversation on Acquiring an Airbnb Property 0:03:35 Discussion on Acquiring an Airbnb Property and Budget Considerations 0:09:35 Understanding the Cost of Furnishing and Staging a Short-Term Rental Property 0:11:50 Estimating Airbnb Revenue and Expenses for Short-Term Rentals
 
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Summary notes:
Emotional intelligence plays a crucial role in financial planning because it helps individuals understand their emotions and how they impact their financial decisions. Our feelings about money often unconsciously dictate our spending habits and investment decisions. By developing emotional intelligence, we can become more aware of our emotions and make informed decisions that align with our financial goals. Simply put, how we feel about money is a better indicator of our financial behavior than what we say about money. Therefore, by developing our emotional intelligence, we can improve our financial well-being and achieve greater financial success.
 
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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.

Summary Notes:
Phillip talks about how to know how much money you need in an emergency fund. He explains that there is a balance between the subjective and objective aspects of wealth building. When it comes to cash, the right amount is unique to the individual and what makes them feel comfortable. Intellectual intelligence often surpasses emotional intelligence, and this can lead to making mistakes, especially in the realm of finances.  A few ways to increase emotional intelligence around money include listening to podcasts about emotional intelligence, positive affirmations, meditation, speaking with people who have good money and emotionally intelligent habits, and speaking with a financial advisor.It is important to remember that feeling good financially is key to unlocking opportunities that can lead to wealth. This is exemplified by Warren Buffett, as if his mind were in someone else's body, they would become a billionaire in five years. This is because he has opened up pathways that allow him to see opportunities and attract things that others are not yet ready to. It is these pathways that allow people to see investments and business opportunities that others are not aware of. 
Timestamps
0:01:19 How to Determine the Right Amount of Cash for Your Emergency Fund0:03:24 The Dangers of Letting Intellectual Intelligence Outpace Emotional Intelligence in Financial Planning0:08:29 Balancing Facts and Feelings for Wealth Building 0:10:27 The Impact of Emotional Intelligence on Financial Success 
 
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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.

Summary Notes:
Smoothie King was founded in **1973** in Kenner, Louisiana by Steve and Cindy Kuhnau. The company was still privately held as of November 2012¹. Steve Kuhnau was inspired to create healthy, flavorful smoothies after trying one while on a trip to Australia. He wanted to cure his own allergies and began experimenting with different ingredients and soon developed a line of unique smoothies.
 
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Summary notes: 
Artificial Intelligence (AI) and Web 3.0 are two of the most significant technological advancements of our time. Together, they have the potential to transform our world in ways that were previously unimaginable. One area where they are expected to have a significant impact is in the job market.
 
As AI and Web 3.0 become more prevalent, they are likely to create many new career opportunities. For example, there will be a growing demand for professionals with skills in AI, machine learning, and data analysis. These professionals will be responsible for developing and implementing AI-based solutions across a wide range of industries, from healthcare to finance to transportation.
 
In addition to creating new career opportunities, AI and Web 3.0 are also likely to make existing jobs more satisfying. With the help of AI, workers will be able to automate repetitive tasks, allowing them to focus on more complex and creative work. This will not only make work more enjoyable, but it will also lead to increased productivity and better job satisfaction.
 
Overall, the combination of AI and Web 3.0 is expected to bring about significant changes in the job market. While some jobs may become obsolete, many new and exciting opportunities will emerge. As we continue to explore the potential of these technologies, we can expect to see a world where work is more fulfilling, and career opportunities are abundant.
 
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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.

Summary Notes:
The subjective answer from Phillip's point of view is that 401(k)s are way too limiting and don't provide the ability to invest in the new (and in his opinion better options) coming available everyday with the new world being built.  They are great for getting free money from a matching 401(k) and a good forced savings plan, but from an investment option standpoint, Phillip is not enthusiastic.  
The principled answer is financial security flows from the inside out.  Each person expresses it differently in the form it takes.  For some it may be stocks and for others it may be crypto or real estate.  The key is to not see the expression as the source of security.  Financial security is a feeling.  From that feeling we can connect with intuition which will guide us to which investment options are the right investment options for us.  
 
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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.
 
 
 

Summary Notes:
Giving from desire means giving because you genuinely want to, while giving out of obligation means giving because you feel like you have to. When you give from desire, you are more likely to experience feelings of joy, fulfillment, and gratitude. Giving out of obligation, on the other hand, can lead to resentment, stress, and a sense of burden. Ultimately, giving from desire can deepen relationships and bring more positivity into your life, while giving out of obligation can have the opposite effect.
 
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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.
 
 

Summary Notes:
Alison and Phillip wrap this series by discussing Apple's growth and innovation during Cook's tenure, from the introduction of the Apple Watch to the launch of the App Store, and the financial rewards these moves have brought. It is noted that Apple has become a platform company, with other platforms being built on top of its own operating system. It is agreed that Tim Cook is equally as visionary as Steve Jobs from an operational standpoint, and that he has been able to implement his vision since becoming CEO. Apple is now generating a lot of revenue through its platform, and it is getting into finance.
Timestamps
0:00:57 Apple's Transformation Under Tim Cook's Leadership 0:03:39 Discussion on Apple's High Yield Savings Account and Its Potential Impact on the Banking System 0:07:25 Tim Cook's Vision for Apple's Revitalization
 
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Summary Notes:
David Jones II (The Black Business Cowboy) and Philip Washington Jr. discuss how to make money off of growing produce in one's own home. David covers how to best get started, what type of produce grows well in various climates, and how to maximize profits from one's homegrown produce. They also discuss the importance of researching the right type of soil, fertilizers, and other necessary nutrients for successful plant growth. Additionally, they discuss the importance of investing in the right containers, planters, greenhouses, and other equipment that can help maximize the return on investment. Finally, they emphasize the importance of taking the time to properly nurture and tend to the plants in order to maximize the yield.Urbanization has disconnected us from nature, but it can be a positive thing if we utilize it to its fullest capacity. Urban Grower Supply and Micro Farm (David’s company) offer solutions to this, providing products and information to help people grow their own food in their homes. Through Urban Grower, individuals can make $1,000 a week from just six square feet, providing supplemental or full-time income for their families.  
 
Timestamps
0:03:05 Urban Farming: Growing 20 Pounds of Food in 1,000 Square Feet0:08:18 Utilizing Indoor Spaces to Generate Supplemental Income Through Urban Farming
 
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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.
 
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Summary notes:
The conversation revolves around the relative value of currency and how the value of money is relative to the faith in the currency.  Wise investors in countries with large debt problems  convert their currency to a more stable currency or some other asset class that has a better relative value.  
People don’t tend to not think of assets as currencies, but a currency has two parts: store of value and medium of exchange.   So by definition assets can fill the role of the store of value component of a currency that is no longer working  as a good store of value even if it’s a phenomenal medium of exchange. The money that people move out of an unstable currency is the store of value part of their wealth.  
Real estate (especially in Texas)  is an asset class many investors are turning to as an alternative to store a good chunk of their wealth to protect its value. 
Timestamps
0:01:37 Exploring the Relationship Between Currency and Real Estate in Texas 0:07:58 Conversation on Real Estate as Currency in the Golden State
 
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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.

Summary Notes:
Money is an eternal energy that has always been attracted to the same thing: new ideas, freedom, and beauty.  Money is an energy force for an economy, and it needs to be infused into new life so that it can mature and grow. When forces try to stop the flow of money, it creates problems, which is why one should pay attention to new industries and new ideas, even if it means changing industries or leaving an organization.
Timestamps
0:01:16 Exploring the Universe: A Conversation on Math, Physics, and Quantum Physics 0:03:54 Exploring How Money Thinks: A Discussion on the Universal Laws of Money and Innovation 0:09:49 Exploring the Impact of Social Dynamics on Crypto Industry Evolution 0:11:31 The Power of Change and Nature's Inevitability
 
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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.

Summary Notes:
Currency has been around since the beginning of mankind interacting with each other.  It has been represented in difference forms, but the essence of currency is a medium of exchange and/or a store of value.  
Understanding what currency is and how it works is important in wealth building because currency is the foundation of value that an economy builds onto.  If that foundation is shaky or weakened through manipulation by those in charge then it effects the entire economic system built on top of it.  
You don't need to be a currency expert to know when there's manipulation, nor do you need a degree in economics.  Just follow inflation.  Inflation is manifestation of currency manipulation.  Even if the reasons are "noble".
Thank God we live in a time and a country where we have the freedom to store our value in a number of different currencies: stocks, bonds, USD cash, real estate, bitcoin, gold, art, Yen, Yuan, etc.  
The currency you choose determines how much of your wealth grows or is taken away through inflation over time.
 
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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.

Summary Notes:
This is part 3 of our month-long series on lessons learned from Alison and Phillip studying Apple, Inc.
The Maturity and Decline phase of Apple occurs after it has reached its first peak in the 1980s and then began to decline.  A company decline can be caused by a variety of factors such as changing consumer trends, shifts in the market, new competition, or the company’s product becoming outdated. It is important for entrepreneurs and businesses to recognize when their company is in the maturity and decline phase in order to adjust their strategy accordingly.Steve Jobs and the CEO of Apple clashed, leading to Jobs leaving the company. The company lost their visionary and with that their ability to compete with IBM which caused Apple to lose the computer market and their products to become subpar.  Steve's perfectionist tendencies made it difficult for management to run a successful company. Eventually, the company was desperate enough to invite Jobs back in the late 90s and early 2000s. He came back and helped turn the company around to become the successful business it is today.Steve Jobs was a visionary and innovator in the tech industry, and his impact on the world still resonates today. He created the iPod, iPad, and iPhone, which changed the way people interacted with computers and allowed for the spread of software across the world. After his death from pancreatic cancer in 2011, Tim Cook took over as CEO. 
Apple's current success is due to their focus on selling high margin products, using lean operations, and hiring the right people for the right roles. They also point out the importance of cutting out wasteful activities and being relentless in the pursuit of perfection.
Steve Jobs's legacy lives on in the products and services that have revolutionized the tech industry.
Timestamps
0:01:54 The Downfall of Apple and the Return of Steve Jobs 0:04:24 Reflection on Steve Jobs' Innovations and Impact on the Computing Industry 0:06:28 Steve Jobs and Apple's Financial Discipline 0:13:00The Partnership Model and the Visionary Leader
 
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Renewable energy technology is making its way into the manufacturing business in a big way.  The cost of the technology used to harness renewable energy is coming down due to increased volume. Manufacturers are taking advantage of this opportunity as they can service more customers with lower energy expenses.   Solar farms are a popular option as they provide income while reducing risk. In order to stay relevant, one has to adapt to the changing environment and not be left behind.  Many wise business people are integrating bitcoin mining into energy input manufacturing operations, with an example of a man in Austin who partners with oil producers to mine bitcoin from the extra gas produced during digging.
 
Timestamps
0:01:26 Renewable Energy in Manufacturing Processes 0:03:28 Exploring the Benefits of Renewable Energy and Bitcoin Mining 0:09:26 Exploring the Benefits of Utilizing Existing Resources for Manufacturing 0:11:12 The Benefits of Acquiring Goods in a Preferred Currency in the Metal Business
 
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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.
 
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Summary Notes:
The conversation discusses the gift and the curse of revitalization in older neighborhoods. When abandoned structures are torn down and replaced by higher-value homes, the tax base increases but the people living in the area can suffer. The people may struggle to keep up with their increased tax bills and they may not be able to afford to stay in their homes. The people may get offers from buyers that are over market value, but the buyers may not have anywhere else to go with their fixed incomes. Solutions include providing education to those affected as a way to help, as well as programs through the city that can help fix up their homes. Ultimately, there is no one-size-fits-all solution for those affected by gentrification.
Timestamps
0:00:58 Revitalization of Established Neighborhoods: The Gift and Curse0:03:25 Discussion on the Impact of Revitalization on Low-Income Homeowners 0:08:43 Conversation on Home Ownership and Income Challenges
 
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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.

Summary Notes: 
In order to change our reactions to money we have to first become aware and then change our current beliefs and feelings about money.Our beliefs are determined by our feelings and emotions.  From a scientific standpoint, we are all just energy vibrating at a lower level so that it can be perceived with the five senses. The way we communicate with our energy is through our feelings, which is what e-motions are…energy in motion. 
Our perspective attracts our feelings, and in turn, affects our beliefs.  A perspective of lack can prevent someone from experiencing abundance.   If a person has a lot of money, but they don't have the emotional feeling of abundance and satisfaction, they won't feel content. 
Use the feeling of what we desire to attract the circumstances and conditions we envision.  That’s the “secret”.
 
Timestamps
0:01:12 Exploring the Science of Beliefs and Emotions 0:03:45 Exploring the Impact of a Lack Perspective on Money 0:07:26 The Power of Thinking from Abundance: How to Increase Money Flow in Your Life
 
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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.

Summary notes:
The basic building blocks of an economy include:
Production
Distribution
Consumers
Money
Technology is not just a term that refers to software and hardware, but rather a concept that describes the force behind an economies increase in productivity which leads to a higher overall quality of life. 
Asset returns are made up of three components: productivity, inflation, and market sentiment (emotion).  Investors can make money by understanding the impact of productivity and inflation has on their choice of investments while managing their emotions when the market is either too hyped or too pessimistic.
Timestamps
0:03:53 Exploring the Impact of Technology on Economic Productivity 0:06:20 Exploring the Impact of Productivity on Asset Returns 0:11:19 The Decline of America and the Possibilities of Web 3.00:15:28 The Impact of Internet and AI on Production and Distribution Costs
 
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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.

Summary notes:
In the growth phase of a company, it's important to make sure to have a the right team in place.  A fast growing company encounters unnecessary resistance when it doesn't have the right person in the right seats.  No matter how intelligent the entrepreneur, they can't do it all by themselves.  
 
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Summary notes: 
The discussion centers on how decentralizing the truth can lead to more equitable distribution of resources. The example of 3D printing is used to illustrate how it can benefit manufacturing. 3D printing allows people to model up their ideas with free or inexpensive software and hardware, and make exactly what they want. It could lead to more people being involved in the manufacturing process and having a collective amount of money rather than it being accrued to the top.There are three types of manufacturing: craftsmen, small manufacturers, and large manufacturers. Craftsmen will still have a place, as they are able to create personalized items with skill. Small manufacturers are already somewhat decentralized, and they are able to respond to customization and personalization. Finally, large manufacturers are needed for scaling and reducing the price point. Additive manufacturing, automation, and other emerging technologies may make it easier for people to become craftsmen and small manufacturers. This would allow people to open an Etsy shop or begin printing items and let them run around the clock.
Timestamps
0:01:47 Discussion on Decentralizing Manufacturing with 3D Printing 0:04:03 Exploring Decentralization in Manufacturing: Craftsman, Small Manufacturers, and Large Manufacturers 0:05:58 The Benefits of Leveraging Technology for Manufacturing and Personalization0:11:35 Leveraging Additive Technology for Operational Efficiency 0:13:46 The Benefits of Embracing Technological Progress
University of Arkansas in Fayeville for college and studied industrial engineering. He originally wanted to design prosthetic limbs but changed his mind and decided to study industrial engineering because of its prestige. During college he got a couple of internships in an industrial setting and discovered that he enjoyed working with tangible things. He worked at Frito Lay's largest plant in the world as his first job.The conversation is about how emerging technologies are having an impact on the industrial industry.  Additive manufacturing is one of the biggest changes in the industry which is the process of starting with basic building blocks of material and forming it into the desired thing.  3D printing is an example of additive manufacturing, and that it can create incredibly complex and specific forms of material within a short amount of time. There are two dominant types of 3D printing machines (but many more), those that print with metal and those that print with plastic.3D printing is already used in many everyday objects, such as Invisalign braces and medical devices. Finally, the speaker noted that the best way to get in contact with them is on social media.
 
Timestamps
0:02:56 Exploring the Impact of Emerging Technologies on the Industrial Industry with 0:08:36 Conversation about 3D Printing -Exploring the Process and Applications 
 
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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.
 
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Summary Notes: 
The Biden administration has recently announced a move to lower fees for borrowers with lower credit scores, which has been sensationalized by the media. This move is not raising rates on good credit borrowers, but rather reducing fees for those with lower credit scores. According to a report by the Urban Institute, lower fees could help increase access to credit for borrowers with lower credit scores and improve the overall health of the mortgage market. However, some experts have expressed concerns about potential risks associated with expanding access to credit for borrowers with lower credit scores.
Phillip and Rob discuss this topic on today’s episode. 
 
Timestamps
0:01:13 Exploring the Biden Administration's “Interest Rate Hike” for Well Qualified Buyers 0:03:20 FHA Loan Level Price Adjustment: A Step Towards Affordable Home Ownership
 
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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.

Summary notes: 
Everyone processes change at different rates of acceptance.  As wealth grows in our life, people in our life might project their relationship with wealth onto you and it can change the dynamic of your relationship for a time period...especially if they have a negative relationship with money.  
Don't let it get you down.  Understand it for what it is energetically.  It's not about you, it's about them.  Give them grace and time to adjust.  Negative energy can only survive if it's reacted to.
 
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Summary Notes:
Before scientists understood gravity and electricity, it seemed like magic, but what we call magic is just science (a process) we do not understand. The algorithm of the universe operates on  feelings, which is the same as belief, and that what we feel to be true gives birth to our experience. Our Emotions guide the chemicals that flow through our body.  As we learn to be in Harmony with our natural state of positive emotions, it improves the flow of chemicals through our bodies improving our long term health.  
It’s no breaking news to state that governments use the media to control what people think.  Control of information flow is how religions also maintained power over society before the invention of the printing press. Social media works a bit differently than other systems because the user has more control over the algorithm based on what information the user pays attention to. 
The same Universal Law applies to money.  How we Feel about money (abundance or lack) gives birth to our future experience with money.  
 
Timestamps
0:01:23 Exploring the Algorithm that Operates the Universe: Understanding the Power of Belief and Emotional Intelligence 0:03:22 Exploring the Impact of Emotions and Beliefs on Our Lives 0:09:05 Exploring the Science Behind Gentrification 0:10:53 Exploring the Power of Emotions and Free Will to Achieve Success
 
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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.

Summary notes:
This is part 1 of a 4 part series where Alison Reiff-Martin CPA and Phillip Washington, Jr. discuss their insights on the company Apple starting in the Start up Phase to Apple’s current phase after it reinvented itself.   
Steve Jobs was the founder of Apple was founded in 1976 and achieved profitability relatively early.   Steve Jobs was relentless in his pursuit of perfectionism, understanding what customers wanted before they even knew they wanted it and delivering a delightful product was a big  key to Apple's success. He was focused on evolving and delivering unique products.Steve Jobs was a great example of a successful startup founder.  He was willing to take risks and absorb failure. He also had a team in place to help keep him from spending the company into oblivion. This is a great example of having boundaries in place to put oneself in check. It is important to recognize what is outside of one's area of expertise and to find help from those who are knowledgeable.
Timestamps
0:00:58 Conversation Summary: Apple's Early Financial Success 0:03:43 Exploring the Success of Apple's Early Startup Phase
 
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Summary notes:
David Jones is 34 years old from Jonesborough, Arkansas. He attended the University of Arkansas in Fayeville for college and studied industrial engineering. He originally wanted to design prosthetic limbs but changed his mind and decided to study industrial engineering because of its prestige. During college he got a couple of internships in an industrial setting and discovered that he enjoyed working with tangible things. He worked at Frito Lay's largest plant in the world as his first job.The conversation is about how emerging technologies are having an impact on the industrial industry.  Additive manufacturing is one of the biggest changes in the industry which is the process of starting with basic building blocks of material and forming it into the desired thing.  3D printing is an example of additive manufacturing, and that it can create incredibly complex and specific forms of material within a short amount of time. There are two dominant types of 3D printing machines (but many more), those that print with metal and those that print with plastic.3D printing is already used in many everyday objects, such as Invisalign braces and medical devices. Finally, the speaker noted that the best way to get in contact with them is on social media.
 
Timestamps
0:02:56 Exploring the Impact of Emerging Technologies on the Industrial Industry with 0:08:36 Conversation about 3D Printing -Exploring the Process and Applications 
 
Follow David Jones II on IG: https://www.instagram.com/blackbusinesscowboy/
 
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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.
 

Summary notes:
This episode discusses the concept of deflation.  Deflation runs counter to the current world's banking system that runs on inflation. The book "The Price of Tomorrow" by Jeff Booth explains that deflation is a good thing because it means the cost of living is going down over time. Technology is a manifestation of our understanding of the laws of the universe and as our knowledge of those laws expand, it should lower the cost of things. However, humans build their value structure on top of those old prices and resist those lower costs. Politicians pass legislation to regulate prices and keep them artificially high, which goes against the laws of nature, where the prices should be free and abundant.
Whether you experience deflation or inflation comes down to where you keep your savings and where you deploy your talents.  
Timestamps
0:01:50 Exploring the Benefits of Deflation0:04:06 Exploring the Impact of Technology on the Economy and Cost of Living 0:12:24 The Impact of the Gold Standard on the American 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.

Summary notes:
The current financial system is a fractional reserve banking system, which means banks lend out more money than it has in its reserves. If customers withdraw their money all at once, banks cannot cover the amount owed.With fears of financial instability in the banking system, wealthy people (who are aware of the banking system) are moving their money to too-big-to-fail institutions to protect it along with a slow drain of money from the banking system to alternative assets such as bitcoin, stocks, real estate, and gold. 
Well known economic experts have been warning of a potential banking crisis, and now that it is here, people are scrambling to figure out what to do with their money long term to counteract the potential inflation that’s speculated will be needed to fix the current system. 
Timestamps
0:01:27 Overview of Fractional Reserve Banking System and Bank Failures 0:03:43 Analysis of the Current Banking System and the Response from Wealthy Investors0:07:10 The Impact of Low Interest Rates and Money Creation on Investment 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.
 

Summary Notes:
There are so many ways to express investment trends.  Phillip thinks of investing in NFTs like investing in culture.  The digital culture in essence will be no different than the culture we understand in the physical world.  It will just be express different.  
The idea is that strong brands from the physical world, will inevitably realize the profits in the digital world where their IP and Brand will value at a whole new level for generations to come.   
 
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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.

Summary notes:
Integrating technology into your practice can help you streamline processes and make your work more efficient.   There are various types of technology that can be integrated into your practice, such as software for financial planning, budgeting, and project management, etc. It’s important to  keep up with the latest developments in technology in order to stay competitive while also having processes set up to protect company and customer data. 
Timestamps
0:01:11 Conversation on Utilizing Chat GPT and Appropriate Safeguards 0:03:17 Data Security Protocols for Chat GPT Platforms
 
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Summary notes:
This episode stresses the importance of emotional intelligence in investing. It is explained that emotional intelligence is more important than intellect when it comes to investing, and understanding one's emotions and mastering them is essential.
The concept of clarity versus confusion is discussed, emphasizing the importance of making decisions based on emotional clarity rather than just intellect. Ultimately, combining emotional intelligence with intellect leads to easier and better decision-making.
 
Timestamps
0:01:22 The Role of Intellect and Emotional Intelligence in Investing Decisions0:03:38 Exploring Clarity vs. Confusion: A Discussion on Intuition and Investing 0:07:55 Exploring the Benefits of Emotional Intelligence in Investing 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.

Summary notes:
Robert and Phillip discussed the potential of creating a real estate firm that would focus on tokenizing real estate around the world. They talked about the amount of money that could be made if people were to tokenize their privately owned real estate. It could be possible for regular homes in desirable areas like the Dallas Metroplex to be worth $5 million or more if tokenized.
The conversation then shifted to the potential of tokenizing real estate and how it could impact the value of property.  Tokenizing real estate could open up new opportunities for developments that are not available today, and how using tokens could lead to more creative solutions.
 
Timestamps
0:02:43 Exploring the Potential of Tokenized Real Estate and Land Investment 0:10:36 Rob Discusses His Successful Airbnb Journey
 
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Summary notes:
This episode discusses the potential of using Non-Fungible Tokens (NFTs) in the podcasting industry. Derek Johns and Phillip talked about how NFTs could be used to monetize a podcast in the form of digital collectibles or rewards for a podcast audience. They also discussed the potential of NFTs in the podcasting industry, including the ability to create exclusive content, increase listener engagement, and easily track ownership and usage of podcast content. The conversation also touched on the importance of trust in the financial world and how finance is allowing us to connect with people outside of the traditional banking system. They emphasized the importance of having a clear focus and vision when looking to build wealth in the industry.
Timestamps
0:01:06 Exploring the Intersection of Non-Fungible Tokens and Podcasting 0:09:55 Leveraging Financial Systems to Build Trust and Attract Investment
 
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Summary notes:
Inflation can be beneficial for the economy and investments if managed properly, but it is important to be aware of the risks that come with it. It is a necessary step for evolution, sweeping away the old to make room for the new.
Those who are at the forefront of new ideas and technology experience deflation, while those stuck in outdated methods suffer the most. To avoid the negative effects of inflation, people may want to invest in things that are outrunning the future and not living in the past. Money printing is the likely preferred way out of debt which destroys old idea assets and businesses.
Timestamps
0:01:23 Exploring the Necessity of Inflation for Evolutionary Progress 
0:03:49 The Impact of Inflation on Investment Strategies 
0:10:19 Understanding the Impact of Money Printing on Savings and Investment Strategies 
0:12:20 Financial Planning for the New World
 
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.
 

Summary notes:
GPT(General Purpose Technology) is a technology-enabled method that automates processes and analyzes data faster and more accurately, leading to improved accuracy, reduced costs, and increased efficiency. By utilizing GPT, organizations can make more informed decisions. The use of Chat GPT in accounting, and tax work, can improve customer service experience, but it is important to be careful to ask thoughtful questions and double check the accuracy of its answers.  
 
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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.
 

Summary notes:
The financial system is based on faith (credit) in assets, such as treasury bills, gold, stocks, real estate, etc. . Wealthy individuals and institutions rely on those assets on their balance sheets for getting favorable terms on money they borrow to invest in their businesses.
Treasury bills are the foundation of the dollar-based banking system. Banks can lend out more than they have, creating credit. Hedge fund managers use futures contracts to control multiples of their investment capital. Insurance policies can be borrowed against to invest in higher return assets. Stocks can also be borrowed against, but are riskier. Crypto and bitcoin can be borrowed against, but it's important to manage risk responsibly.  Leveraging assets to make more money is a common practice in banking and finance. 
 
Timestamps
0:01:44 Exploring the Financial System: Understanding the Capital Structure and the Role of Faith in Money 0:05:57 Exploring Leverage Strategies in the Financial Markets 0:07:53 Exploring Leverage Strategies for Financial Assets 0:12:52 Removing Fear and Greed: Understanding the Risks of Leverage Investing 0:15:17 The Dangers of Leveraging Finance: A Discussion on Greed and Emotional Intelligence" 0:17:11 Understanding Leverage and Building Emotional Intelligence in Investing
 
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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.

Summary notes:
Tokenization is the process of turning an  asset into a digital representation that can be traded on the blockchain.  The tokenization of real estate property can potentially revolutionize the real estate industry. Companies used to be privately owned only before the stock market.  The stock market idea democratized ownership through financial markets. The title companies of the future could become like investment banks and realtors could become like wealth managers as people would need more advice with more options to invest in real estate.Different capital structures (types of ownership) could provide different benefits, such as being able to reserve certain weekends at a discount.  This innovation might also potentially significantly increase the value of the property in the most popular cities in America.
Tokenizing real estate also solves the problem of international investors wanting US dollar based assets with a decent return.  Money flows through the global financial system most through bank lending.  When banks slow down lending (like they have since the 2008 crash), this creates a huge dollar shortage because non-US citizens don’t earn dollars, but still need dollars to trade on the global market.  
Timestamps
0:01:02 Conversation on the Tokenization of Real Estate Property 
0:07:55 The Benefits of Tokenization of Real Estate
 
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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.
 

Summary notes:
Philip Washington Jr. and Derek Johns discuss the economics of podcasting and how it can lead to future millionaires and billionaires.  They also discuss the  history of media and how it has evolved over time.  The early US media industry sort of  started  with the fringe creators of Hollywood, then moved on to TV news, radio, cable blogs, video, and now podcasting. 
Despite contrary belief, podcasting is not as saturated as people think because many podcasts don't last and many podcasters don't have the intent of building a business around it.  Lots of money is being invested into the audio platforms of podcasts because audio is a great way to capture attention for a long period of time. It is argued that having a captive audience of 100 is more beneficial than having a million followers who don’t do what you say. To be successful in this market, one needs to demonstrate that they have a captive audience consistently. 
Podcasting is another great example of how money is attracted to the best new ideas of a generation.
Timestamps
0:01:58 Exploring the Possibility of Podcasting: A Conversation on the Evolution of Media and the Potential for Profit 0:03:46 The Power of Podcasts: Capturing Attention and Building a Media Empire0:05:22 Conversation on Wealth Building and Investing Strategies for Creators 0:11:11 Conversation on Investing in Media and Content Creation 
 
Guest Host: Derek Johns, CEO of the Dear Son Network
https://thedearsonpodcast.com/
 
 
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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.

Summary notes:
The US stock market has had about 3 lost decades in the last 100 years and this next decade is likely the next one.  
Lost decades happen because of the collective emotional state of "The Market".  Investors can choose to passively invest their money in the market and be subject to the results of the emotional state of the market or they can choose to manage be mindful of place their resources only in places where the dominant emotional state is faith in the future.  
 
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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.

Summary notes:
Casualty losses can actually be deducted from income tax, but how it depends on the specific situation and the circumstances of the loss.  A casualty loss can include any damage or theft of a business’s property, such as a tornado, car accident, or theft. 
It’s important to keep detailed records of losses in order to qualify for deduction.  What’s also important is to pay close attention to all the tax implications of the losses and factor those losses into your overall business financial plan. .Methods for handling casualty losses in a business, such as setting up a separate line in the business' accounting record and ensuring the business has proper insurance coverage to cover any losses incurred. It is important to work with an insurance agent every year to make sure the business has the necessary coverage for any potential disasters that could occur, such as floods, tornadoes, hurricanes, or fires. 
Timestamps0:01:07 Understanding Casualty Losses in Light of Recent Natural Disasters and Their Deductibility 0:03:40 Discussion on Casualty Losses and Insurance Coverage for Businesses 0:06:23 Working with a CFO and Insurance Advisor to Ensure Proper Coverage
 
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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.

Summary notes:
Not chasing relationships goes against the advice offered in many of the business books we read.  Jay Z and LeBron James are examples of people who have achieved success by utilizing their talents, resources, and relationships within their circle of friends and family, rather than trying to chase relationships with wealthy people. 
Money is attracted to money, and having the right kind of mental attitude draws like-minded people and resources to you. Instead of chasing relationships, become the relationship you want to attract.  Be the kind of  person you want around yourself and watch you attract those people right to you.
Timestamps
0:00:01 Don't Chase Relationships in Business0:01:15 The Power of Networking: How Jay Z and LeBron James Attract Success0:03:53 The Power of Attracting Positive Relationships
 
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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.

Summary notes:
The world is transitioning from a single power to a distributed power. This means that instead of one power controlling the world, there will be multiple powers controlling different aspects of the world. This affects the American economy because the US dollar is the global currency for trade, and the US has been using manipulation tactics to control other countries first with the military and most recently with the monetary system. 
This is no longer effective due to the emergence of China as a powerful nation. The conversation also discussed the effects of this transition on real estate, with US dollar income producing real estate being a good investment due to the US dollar still being the reserve currency. 
Inflation (which reduces the value of a country’s currency) is an effective way for governments to reduce debt, and it affects real estate, stocks, and crypto because all assets, goods, and services are priced relative to a country's currency.  .
Timestamps
0:01:07 Impact of International Relations on the US Real Estate Market 0:02:53 The Impact of Global Power Dynamics on Real Estate Investment0:10:10 Exploring Future Investment Opportunities in Energy-Rich Areas0:12:24 Real Estate Investment Opportunities Around Bitcoin Mining Facilities
 
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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.
 

Summary notes:
Having a clear vision and an understanding of what you want to accomplish with your podcast is the key to success.  Other important keys involve building solid relationships, being consistent, and focusing on improving the quality of your content.  Derek Johns shared his experience of starting his podcast and the struggles he faced in the beginning. He also stressed the importance of staying true to yourself and your vision, despite the noise and criticism you may face.
Timestamps
0:00:55 Exploring the Vision of Dear Son Podcast Network 0:03:40 Conversation on Positive Storytelling and Raising Consciousness
 
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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.