The Wealth Formula: Recent Episodes
Buck Joffrey
Wealth Formula is about you, the overworked but well paid individual looking for a better life. We define wealth as freedom to do what you want with your life. We want you to decide for yourself if you want to work 80 hours per week and not see your children. Your decisions should not be dictated by your golden handcuffs–the need to make lots of money to fund the life that you have created. We want to help you to create other multiple streams of income that do not involve trading more of your time for money. Through a strong foundation of financial education, we advocate the use of entrepreneurship to generate money which, in turn, works for you to create a cycle of perpetual wealth.
Leverage in the form of bank debt is a double edge sword. Obviously, consumer debt to buy things like televisions and mall junk can only be negative in the financial sense. However, using debt to buy cash flowing assets is perhaps the single most powerful weapon we can use to create wealth and the thing […]
Man am I tired of hearing people with a lot less money than me giving financial advice. I have to actively suppress my temper when someone forwards me an article full of misinformation that someone, that is clearly clueless and NOT wealthy, wrote on a blog! There is a lot of know-it-alls in this financial […]
A few conversations I had with investors over the last week got me thinking that we need to talk about some basics again. First of all, let’s start with why I generally prefer to own an asset (either in entirety or a fraction) as opposed to simply holding a note. What is a note or […]
When I was in high school, I remember taking my first political science course. That was the first time I learned the political meaning of conservative or liberal. Up to this point, I had viewed those words as synonymous with Republican or Democrat. Of course that wasn’t quite the same thing. A conservative, I learned, was someone who […]
The prefrontal cortex is the CEO part of the brain. It is involved with personality, decision making, and moderating social behavior including impulse control and risk taking. You may not be surprised to learn, therefore, that this structure matures late in life. One study found that the prefrontal cortex may continue maturing late into your […]
The other day, I was listening to the radio and heard that protesters were outside of JP Morgan Chase Manhattan CEO Jamie Dimon’s house protesting the bank’s investment into facilities that were used to separate children from their parents at the border. Of course that story of separation has been all over the news and, […]