Wealth Formula by Buck Joffrey

Why the heck did I start a podcast anyway? A lot of people ask me that. Well, it went something like this. I used to listen to podcasts all the time—most of them real estate related. But after a while, I realized a few things. First of all, even if I liked a particular podcast, a good chunk of the shows really didn’t relate to me at all. For example, the shows about making a few thousand dollars flipping houses or wholesaling really were not part of my world. I was, after all, “a highly educated physician” and successful entrepreneur who had some money already. I didn’t need to “escape from a cubicle”. I just wanted to make more money and invest outside of Wall Street. There was NO ONE SHOW that spoke to me. On the other hand, I got so interested in investing topics that I couldn’t keep my own mouth shut. My wife would take me to a party and I’d be pretty much bored out of my mind unless the conversation turned to either NFL football or the economy. Once in a while, I would find a kindred spirit and nerd out talking about investing or how to save on taxes. Over time, I realized that I had learned so much reading books and listening to podcasts that some people actually even ENJOYED listening to me and wanted to know more! Then it occurred to me—maybe I should start my own podcast. So I did. The problem was that for the first several shows, no one listened to me and life got busy so I stopped for a year or two. Anyway, about 18 months ago I decided that I was going to go all in on it so that, at the very least, I could record my own thoughts. Then a funny thing happened. People started listening. I started getting guests—some of them were even people who weren’t friends doing me a favor. Before you know it, I got invited on other people’s podcasts! Today, I’ve had up to 30K downloads in a single month. I even interviewed Robert Kiyosaki! It’s really been sort of a crazy ride! Now here’s the thing—when I started, I didn’t really even think about making money from the podcast. It was just sort of a hobby. But then monetization became pretty easy. Businesses wanted to sponsor my show and, since I love investing, I started investor club and began my own funds. It has all been incredibly organic and, from the standpoint of the podcast itself, still doesn’t really feel like work. Sounds sort of nice doesn’t it? Talk about your passions and make some money doing it? That’s basically what I’m doing and I’m 100 percent convinced that this is something that you should consider doing as well! Maybe you are a doctor but, unlike me, actually ENJOY talking about medicine. There are TONS of people who would love to hear you talk. You don’t have to ramble on at parties to people who don’t want to listen to you. You can literally talk about ANYTHING that interests you because there are others in the world, even if they don’t live near you, that share your passions. Podcasts allow you to find those people, find your tribe. And here’s the thing. It’s technically very easy to do and you might even make some money doing it. I’m hoping to inspire you to podcast so I got my friend Paul Colligan on the show to talk about this relatively new medium. Paul has taught thousands of people to podcast and is a master at not only the technical part but also on marketing and monetization. If you think you have something worth sharing with the rest of the world, make sure to tune into this week’s show! Show notes: [00:40] Introduction [02:16] Why I do what I do [13:10} Buck introduces Paul Colligan [14:18] How did Paul get into podcast [20:26] The growth of podcast (www.edisonresearch.com/infinite-dial-2017) [27:12] Paul’s definition of podcasting [32:03] What makes a podcast interesting and successful? [46:37] What does it take for YOU to have your own podcast? The four “M”s in podcast [51:42] Focus on your passion [53:08] The podcast advertisement and syndication movement [58:00] News of the podcast world since Paul’s prediction of 2018 (www.thepodcastreport.com/134) [01:00:58] Paul’s new book: How to Podcast [01:02:50] Learn more about Paul [01:04:54] Outro  

I don’t have an IRA or a 401K. In fact, most people I know who are higher net worth do not. You see, what I’m realizing more and more as I continue to gradually climb up this wealth ladder is that there seems to be a separate set of rules at each stop. Don’t get me wrong. I don’t think there is anything wrong with the traditional retirement account paradigm. It’s just that there are so many other options out there that 99% of people out there know nothing about. That’s one of the reasons I love doing my podcast. I feel like a special agent from the professional world spying on the ultra wealthy and bringing back their secrets to share with you—I like playing financial James Bond! Some of these products and strategies I’m learning about are absolutely mind boggling and are actually things that you could be doing yourself. One of the guys who has been teaching me about some very interesting strategies is Christian Allen. Christian has worked with ultra high net worth individuals for years and he’s now helping us professionals gains some of these perks. You are not going to want to miss this week’s wealth formula podcast because he is going to reveal some of unbelievable strategies on this show. Make sure you don’t miss this interview—it really could change your financial life. [00:07] Introduction [06:40] Buck introduces Christian Allen [08:43] The Concept of Retirement Account [10:13] What’s the idea behind IRA, 401K and so on [16:36] Where do we save money instead? [18:46] LIRP – Life Insurance Retirement Plan [21:09] Velocity Plus – A New Wealth Weapon for High-Paid Professionals [28:30] “Infinite” leverage [30:54] How is it different from your typical investment [35:35] Understanding Life Insurance [39:13] Risk free investment [40:56] Wealth Formula Banking is the self-directed version of IRA [43:08] Wealth Formula Banking vs Velocity Plus

You know, one of the interesting things about getting older is that you have the ability to look back and tell a story about yourself—to create a narrative about the moments and the people that, for better or for worse, changed the course of your life. I remember the day I decided to become a doctor. I remember the day I met my wife. I remember walking into my beach house in Santa Barbara for the first time. At the time, these moments don’t seem that significant but you realize how quickly, on a day to day basis, little things happen that end up making an enormous impact on the direction of your future. For me, one of those moments came on the way back from my honeymoon in Puerto Vallarta. My wife and I got married the day after I graduated from residency in 2008 and left for a week in Mexico. On the way back, I was looking for something to read on the plane. So I found a dingy bookstore that had a handful of books in it—mostly romance novels. The only book that sounded remotely interesting was a purple book called the Cash Flow Quadrant. I didn’t know anything about money at the time but I knew I was finally going to start making some after years as a broke surgical resident so I figured I’d try to learn something. At that moment, I had no idea that making that decision to buy that book in a third world airport would forever change the course of my life. I’m not exaggerating folks. My identity at that time was as an academic surgeon. I had made my mark by writing papers and book chapters. The only financial education I had in my life was a macroeconomics class that I took in the last quarter of my senior year of college just to meet a requirement—and I took it pass-fail so I could do the bare minimum. I had no interest in money and no interest in investing. Like many doctors, I thought of money as dirty and something that people with manners did not talk about. And, I fundamentally did not understand what it meant to be an entrepreneur–much less consider whether or not I would like to be one myself. I am not exaggerating when I say that reading that The Cash Flow Quadrant had no less affect on me than being struck by lightening. After all, who am I now? In order of how I view my identity: 1)   I am an entrepreneur. 2)   I am an investor. 3)   I am a financial educator. 4)   I am a husband and father to three little girls. 5)   I am a Minnesota Vikings Fan. 6)   I am a board certified surgeon who doesn’t practice anymore. This is my stream of thought when I honestly ask myself who I am today. I was 34 years old when I finished my surgical training—the culmination of my formal education. Thousands upon thousands of hours of study and long hours in the hospital went in to create this identity of a surgeon…and now, it’s number six on my list! And to be clear, the only thing I regret about this list is that I didn’t get to this point quicker. We all grow up with talents—many of which we will never know. What if Wayne Gretzky grew up in Africa? It is truly a gift to be able to find your true calling. Sometimes it just takes a little bit of luck. For me, this moment of luck came when I stumbled upon the work of Robert Kiyosaki. Having him on Wealth Formula Podcast this week, for me, represents a momentous milestone in my journey. Please indulge me, and yourself, by listening to the show! Show Notes: [00:40] Introduction (wealthformula.com, ahpfunding.com) [02:56] The art of aging [03:38] Remember your life-defining moments [04:28] The Cashflow Quadrant [06:45] The “dirty money” misconception [09:37] What if Wayne Gretzky was born in Africa [11:57] Buck introduces Robert Kiyosaki [12:38] How the education system is widening the gap between rich and poor [17:07] Why the education system refuses to adapt to current climate [21:34] The “smart people issue” [23:46] How would Robert redesign the education system [26:23] What is Robert’s drive in elevating financial well-being [29:26] Hard asset is the future [32:07] What does it mean to be really wealthy as a human-being [34:00] The 4 types of education: academic, professional, financial, and Spiritual [35:58] New Orlean investment conference [39:08] Robert’s prediction of our near future [42:28] Outro Robert Kiyosaki’s books that were mentioned: Rich Dad Poor Dad, Why the Rich are Getting Richer, More Important Than Money: an Entrepreneur’s Team

In 1593 a Dutch botanist named Carolus Clusius planted several tulip bulbs in his botanical garden and over time he proved their ability to grow in the harsh conditions of the Low Countries. Tulips were new to Europe and they looked nothing like plants the Dutch had seen. Furthermore, a virus specific to the Tulips (the mosaic virus) made them even more extraordinary. These particular tulips took years, often over a decade, to cultivate and would bloom with colors that appeared flame-like. It was a site to see. The novelty and scarcity of these tulips turned them into status symbols for a growing Dutch middle class that was seeing increased prosperity after their new found independence from the Spanish. Of course this created increased demand and, as a result, the price of tulips. Soon, the price of tulips became clearly excessive. At the peak of tulip mania, some single tulip bulbs sold for more than 10-15x the salary of the average craftsman—more than the price of the typical Dutch home. People were “flipping” tulips because of the appreciating market and there was even a futures market for tulips that drove prices even higher! Then one day in February of 1637, a tulip auction failed to attract buyers. It isn’t clear why although some speculate that the bubonic plague kept most people home. At any rate, the merchants with tulips were thrown into a panic that resulted in a massive sell-off. In short order, the flowers became worthless. Now, every time you hear about a wild, speculative market that seems irrational, people bring up tulip-mania. So, is cryptocurrency the new tulip? A lot of people seem to think so including really smart people like Jim Rickards. Teeka Tiwari doesn’t think so. He is a former hedge fund guy who has become one of the most vocal proponents of cryptocurrency in the mainstream. He is my guest on Wealth Formula Podcast this week. Whatever you conclude, this is a conversation that you simply cannot afford to miss. I believe that distributed ledger technology and cryptocurrency will fundamentally change the world. This is the rise of the internet in the mid-90s. How, if at all, are you going to get involved? Buck Show Notes: [00:06] Introduction [03:30] The “Tulip Mania” [07:56] Is cryptocurrency a “Tulip Mania”? [09:05] Buck introduces Teeka Tiwari [10:26] Teeka’s transition to cryptocurrency [14:18] Is cryptocurrency really a fiat currency? [16:27] Bitcoin is not a bubble [18:31] Cryptocurrency is only just beginning [21:23] The difference between Bitcoin and others [22:26] What is a blockchain? [25:44] Will blockchain technology be replaced? [27:49] Cryptocurrency as a laundering mechanism [29:40] The definitive concept of “coin” [35:14] Common misunderstandings of cryptocurrency [38:57] When should you sell your Bitcoin [40:28] How to reach Teeka: palmbeachgroup.com, joinbigt.com.

I am a refugee of the Thomas fires that crept dangerously close to my home in Montecito, CA. That’s why my audio sucks on the introduction of this week’s podcast. Fortunately the actual interview was done before my evacuation. As I mentioned in the introduction of last week’s show, I woke up to ash on my deck and my smoke detector went off without any apparent fire. The air was clearly getting worse. So, my wife and I made the decision to drive about a hundred miles north to San Luis Obispo. That worked for a couple days until we saw smoke creeping over the mountains. It was a little eerie—like it was following us. So, we got back in the car and drove up to Santa Cruz where my wife grew up. We’ve been away from home living in a hotel for about a week now. Now…we didn’t really anticipate being gone for this long so we didn’t bring much. We were pretty stressed out and the kids could feel it. They were scared and emotional. In the midst of feeling sorry for myself, I started thinking to myself—imagine what it would be like if you had someone shooting missiles at you at the same time and you couldn’t feed your kids. That’s what’s going on in Syria. Now how does that kind of reality affect a five year old boy’s perspective? What if he sees horrible things and feels hopeless every day? How does that manifest itself in adulthood? Of course, since this is ultimately a show about money, I’m thinking about this in financial terms. If you grow up not knowing if there will be food to eat or if you have a roof over your head, how does that influence your view of the financial world as an adult? I don’t think there is one answer to that question. I will tell you this, however. My dad grew up in India dirt poor—now that’s poor. He started tutoring other kids in the neighborhood as a child and helped put food on the table for his family. As an adult, he came to the US in the late 60s on an engineering scholarship and he never looked back. The opportunities that he saw in this country—well, he was like a kid in candy store! I truly believe that his experience as a kid working to survive without safety nets served him well as a scrappy real estate entrepreneur who truly lived the American dream. What about the rest of us? How can we tap into our inner immigrant? It’s hard. You have to imagine a world without the structure we are so accustomed to having. You have to imagine a world where simple things like clean water and a roof over your head are not guarantees. If you do this, the world seems a lot more scary. But..maybe a little bit of that perspective is healthy? After all, most of the security we feel is artificial. Take for example the concept of job security. There really is no such thing as job security. If you work for someone else, you are at the mercy of your company’s financial performance. Just because you don’t get to see company financials doesn’t mean they don’t exist. And…if you are the boss and you own the business. You know even better that there is no such thing as job security because you have likely been confronted with the prospect of letting people go and because you see your own financials go up and down! You see, behind our façade of a “secure” world is an underbelly of reality that we should be cognizant of and for which, at the very least, we should be prepared. The major difference between immigrants fleeing hardship and most of us living comfortably in this country is that many immigrants have seen the world without its makeup on and it ain’t pretty. I am grateful that I have not experienced that world, but I know that it exists. Gena Lofton did not grow up in a war torn country but she did grow up homeless in this one—that world isn’t pretty either. On this week’s Wealth Formula Podcast, learn how Gena used her experience to leverage into the world of the accredited investor! Show Notes: [00:07] Introduction [00:19] AHP Webinar opportunity on Tuesday December 19 [02:06] Fleeing from the Thomas Fire [06:00] Tap into the “inner immigrant mentality” [10:32] Buck introduces Gena Lofton [12:10] Gena’s life story [16:06] Her struggle helped her to become who she is today [17:06] Unconventional upbringing = unconventional wisdom [21:30] Robert Kiyosaki and his experience in Vietnam [22:50] Gena’s philosophy of investing: Velocity [25:45] Newtonian physics of wealth creation: Momentum = Mass x Velocity x Leverage [28:45] Classic Ken McElroy real estate maneuver [31:50] Why an increase in National debt demands proficiency in effective personal investment [33:14] Get on opportunities that are on sale [36:42] Gena’s new show: Accredited2accredited (http://www.accredited2accredited.com) [40:29] Don’t take financial advice from people with less money than you [46:44] Outro

I cannot tell a lie… Despite the fact that I am a libertarian and seem to run in circles with some pretty depressing people: I do not see the future filled with doom and gloom. I do not believe that the United States is screwed and that you should start preparing for Armageddon. I do not believe that you need to buy a wheelbarrow to carry your cash to the supermarket in hopes of buy the last loaf of bread on the shelves. I do not own any army fatigues nor do I have a hide out place in the mountains. No…overall, I’m pretty optimistic about the world and our future. What history tells me is that we, as humans, are pretty good at adapting and are pretty good at solving the problems of our day. In 1798, Thomas Malthus famously predicted that human population growth would outpace the world’s food supply and push us back into darker times. It didn’t happen. Instead, we just invented some better farming equipment. Technology always moves quicker than we think it will. Look around you. Much of what you see around you technologically will be obsolete in 20 years. It reminds me of walking down the street in London with my oldest daughter when she was 4 years old. She saw a phone booth and asked, “Daddy, what’s that?” Now, I am not saying that we are not going to experience some tough times. I’m sure we will. I think we are at a time in history when there will be some dramatic shifts in the world economy that will result in some fairly dramatic shifts to the world as we know it. But…I think we will land on our feet and I have no doubt that the United States of America will continue to be the envy of the world until the day I die. I don’t need another passport. If the US is going down, there will be no place to hide. I know people feel otherwise, but I’m not one of them. It’s probably because I am the son of immigrants who barely had enough to eat who came this country in the late 60s and became a real estate millionaire. So, I don’t prescribe to apocalyptic beliefs about this world or our country. But…like a fellow Minnesotan said back in 1964, “The times they are a-changin” and to not recognize that and be ready to adapt is not very smart either. The biggest concern that I have for my children is climate change. Now I’m not going to get political here and I don’t pretend to know the solution. Alex Epstein gave us the moral case for fossil fuels a few weeks ago and I don’t know if he’s right or wrong. But… the weather is getting funky. Can we agree on that? That was a lot of hurricanes this year, right? If you don’t believe something’s going on, how many thousand year storms do you need to have in one year to convince you otherwise? I’m hoping we figure this one out and maybe we will. I saw something on TV the other day about how sending a bunch of sulfur dioxide into the air could reverse global warming. That sounds great except…would that mean that everything would smell like rotten eggs? In the meantime, we’ve got a new reality on our hands. The weather is really unpredictable and it made me realize that survival strategies aren’t just for people wearing camouflage anymore. After all, look at Puerto Rico. No electricity for how long? Houston? What if you spent a little time now on coming up with a strategy for food reserves? What about medication? Maybe you are a diabetic or an asthmatic. What would happen to you if you weren’t able to get your medication for a month or two? What we’ve seen happen in some of these areas with big weather related catastrophes makes this all very real doesn’t it? It does for me. That’s why I asked Chris Martenson to come back on Wealth Formula Podcast this week. Chris is a smart guy. There is no question about that. He backs up everything he says with a tremendous amount of financial and scientific data. Given the flux of the global economy and geopolitics along with what happened to the weather this year, I couldn’t think of a better person to speak to as we approach the New Year. So if you want to be prepared for all the changes that are happening in the world today, do not miss this episode of Wealth Formula Podcast!

Thousands of years ago, in the Roman Times of Christ, you would go to your local store and trade your ounce of gold coins for a nice toga and a pair of sandals—something worthy of wearing to the coliseum. Today, an ounce of gold will buy you a pretty nice suit and a pair of shoes—something worthy of wearing to the theater. Gold is money and it has been for centuries. That’s a pretty good track record and that’s why “gold bugs” hang on to it like they do. After all, these days we have little more than “fiat currency”. Fiat currency is money that a government has declared legal tender. These days, it’s paper with some ink on it. Inherently, it has no value. It is not backed by anything except for trust in the government that issues it. When you think of it, it’s kind of scary right? What gives our money value is nothing more than a collective agreement that it means something. What if people started not “believing” in the currency anymore? We’ve seen it happen in history multiple times. Usually it is the result of hyperinflation such as seen in Weimar Germany—you remember the images of people bringing in barrels of money to buy a loaf of bread. It’s hard to have much faith in currency when it literally AND figuratively isn’t worth much. Why does hyperinflation occur? Well, it usually has to do with governments trying to pay off their exorbitant debts. In the case of Weimar Germany, it had to do with ongoing debts of the first World War. Today, we have 20 Trillion dollars of national debt in our country. How are we going to get out of it? Tax cuts? Listen, I love tax cuts but the idea that tax cuts are going to get us out of a $20 Trillion dollar hole is not going to happen. In the meantime, like any debt, interest has to get paid. If you aren’t generating enough tax revenue to pay the interest, what are your other options? Well, you could default on the payments. That is probably not a good idea for our sovereign credit rating. Well, if you aren’t going to default on the interest payments and you aren’t creating enough tax revenue to pay the bills, what’s left? There is only one option—make your debt worth less. How do you do that? Inflation right? Inflation erodes debt. If you dilute the buying power of your currency—just print more money—then it’s a lot less painful to pay it back! Why do you think the federal reserve has a target inflation of 2 percent historically? Again, over time, if the value of the currency is less than at the time the money is borrowed, that’s a pretty darn good deal for the borrower. Why do you think I love using debt in real estate so much? It’s like printing your own money! And with 20 Trillion dollars of debt to pay off and a relatively stagnant US economy, do you think the powers that be might want to see inflation tick up just a little bit? Now in an economy like ours, hyperinflation like that seen in Weimar Germany, Latin American or African countries is not likely, but it certainly can pick up quite a bit. As recent as 1980 inflation peaked at 14.76 percent. Can you imagine losing almost 15 percent of your buying power year over year without a significant increase in income? Ouch! But stuff like that happens in the world of fiat currency. The US dollar, has no intrinsic value and you can print as much as you want. Say what you will about cryptocurrency, but there is a finite number of bitcoin (21 Million) and the only way it increases in value is through demand. No wonder the gold bugs are as passionate as they are. Gold is finite and has been real money for thousands of years. Owning it makes them sleep better at night. Should you own gold? That’s for you to decide but if this topic is foreign to you and you have not considered it before, it’s probably a good idea to listen to this week’s Wealth Formula Podcast as I interview Dana Samuelson from the American Gold Exchange. ​​​​​​​Don’t miss out!

Why do you believe what you believe? Are you a republican or a democrat? Are you pro-choice or pro-life? How about guns? Should guns be outlawed in the United States? Do you ever look at the “other side” and wonder if they are absolutely nuts? “How could they believe what they believe and stand for what they stand?” Do you remember when there were only facts?—Not alternative facts? Do you remember a world without a 24 hour news cycle that argued past each other all day and all night using professional pandits? Intelligent discussions–debates like those from my childhood between intellectual giants such as William F. Buckley Jr. and Gore Vidal just don’t make for good TV anymore. The problem is that we have a lot of serious stuff going on these days—crazy weather, mass shootings, a short fat North Korean dictator armed with nuclear weapons and a president who tweets our foreign policy. If you are a person who likes a good old fashion debate based on real ideas, you’re pretty much out of luck these days. In fact, if you think deeply about your own opinions, how often are they the product of the opinions around you rather than ones you have made through careful thought? Believe me, I am guilty as anyone else. I am often dogmatic about issues that I may not have truly considered the opposing view. One of the more pressing issues of our day is the use of fossil fuels. Now I live in California and, like most Californians, I care about the environment. My knee-jerk response is to say yes to anything limiting fossil fuel emissions. But maybe there is another way to look at the issue. Maybe there is a moral case for fossil fuels. My guest this week on Wealth Formula Podcast wrote a book making just that case. Alex Epstein is the New York Times best Selling author of The Moral Case for Fossil Fuels. Now whatever your biases are going into this show, do yourself a favor and keep and open mind. Alex is a philosopher by training and he is not only going to give you his argument, but he is also going to show you how he constructs it. Make sure to tune in to this episode. It’s a unique look at an important issue.

When you listen to my podcast or read my book, you might think I am rigid about my investing. After all, the principals of wealth creation that I teach are: Invest in cash flowing assets. Understand how your investments work. Invest in real things—things you can see touch and feel. Invest in things that people need—like places to live, food, and water. Use the mathematical principals of wealth creation—namely velocity and leverage. Does that mean that every time I invest in something, I do a checklist to make sure each one of these criteria is met? No—clearly not. As you may know, I am a huge fan of the life settlement asset class: There is no monthly cash flow there and I don’t know if an insurance policy counts as something real or not. However, I do know that people who are over eighty years old and have multiple health problems die and that buying their life insurance policies at a huge discount is a pretty good bet. In that scenario, the cards are clearly stacked in my favor as an investor. When else might I consider breaking the rules? Well, I will say that over the years, as my own wealth has grown, I have realized that one of the biggest principals wealthy people use to grow their own wealth is “insider information”. Now, let’s be clear, I’m not talking about the illegal Martha Stewart stuff. I am talking about knowing people who are some of the top authorities in a given asset class—the people that make markets or who are truly elite operators. The wealthy know these people and find out about things ahead of time. They get their money in early in these opportunities. By the time the general public hears about the opportunity, there is little meat left on the bone. Meanwhile, the insiders enjoy massive gains and might even exit their positions while the outsiders continue to buy up scraps. Now here’s the problem, as a high paid professional, might have. You make a lot of money, but just not enough. Or, maybe you make enough, but you don’t live in THAT WORLD. The way you invest is no different than the way the poor and middle class do. Does that sound like you? If so, understand that you are still fodder for the market makers. You aren’t an insider. Who are these market makers anyway? It’s hard to get to know those people and about those opportunities if you aren’t wealthy. I’m sure you suspected something like this already and I’m here to tell you that you are right! Now I’m doing my best on Wealth Formula Podcast and through this community to help you get in on some of that unfair advantage of the wealthy and hopefully you have learned things already that have opened your eyes to a whole new world. But, there are some things to which you will remain an outsider until you really start creating significant wealth and/or start living in the insider’s world. That goes for me as well. There are layers to this insider thing—like peeling away at an onion. I’m further in then most but I’ve still got lots of layers to peel ahead of me. As you get into deeper layers of this world, the advantages become even more apparent. That’s another reason why the wealthy continue to get wealthier over time. None of this sounds fair right? Well, it’s not but life isn’t fair. You need to focus on finding your own unfair advantages. If you prefer, you can also forget about this insider thing for now and protect yourself by simply using the fundamentals of cash flow, real asset investing, velocity and leverage to build wealth the old fashioned way. Just know, that this “insider’s world” does exist and that if you tap into it, it can help you tremendously on your wealth building journey. My guest on Wealth Formula Podcast today understands this whole concept of the “insider’s world” well. In fact, he has built an entire community of outsiders to try to make sense of the bizarre world and economy in which we live. Like me, he tries to help individuals who are “outsiders” get in on some of the insiders’ action. His name is Nick Hodge, founder of the Outsider’s Club and he is my guest on Wealth Formula Podcast this week. You won’t want to miss this episode!

Being a podcaster is kind of unusual. Last month I had over 30K downloads (not bad) yet I only speak to a fraction of you through investor club. Even fewer of you know each other despite the fact that you have a lot in common. The good news is that I will be launching a course in the first quarter of next year that you are going to love and it will also include an opportunity to join the Wealth Formula Network–my new online community. That’s where I am planning to spend a lot more of my time and to be accessible to my listeners via Facebook live and other digital hangouts. In the meantime, I want to make sure I continue to involve myself in this community as much as possible. One way for me to do that is by answering your questions. In recent months I have done that mostly through direct emails or via the Weekly Wealth Widget. This week I’m going to do it with an episode of “Ask Buck”. Make sure you keep sending those questions and comments in–that’s what it’s all about on my end. Hope you enjoy the show!