Key Takeaways:
- Wealth follows productivity and is influenced by changing preferences and beliefs.
- Each generation brings new ideas and perspectives that shape the future of wealth.
- Embracing freedom and being open to new technologies and trends is crucial for long-term success.
Quotes:
- "Wealth follows productivity. You have wealth from leverage and wealth from productivity, two different forms of wealth."
- "The people that built the old economy, no matter the level of manipulation that is done, you're never going to catch the kids."
- "Wealth is like water. It continues to flow and follows the path of freedom."
Chapters
| **Timestamp** | **Summary** |
| ------------- | ----------- |
| 0:00:01 | Introduction to the podcast episode |
| 0:01:52 | The story of the Freedmans and the cycle of wealth |
| 0:04:46 | Lack of investment in technology leads to decline in business |
| 0:05:51 | Parents pass on the business to the next generation |
| 0:06:31 | Next generation starts their own successful businesses |
| 0:08:30 | Wealth from leveraging debt vs. wealth from productivity |
| 0:09:37 | Beliefs and preferences shape the value of things |
| 0:11:29 | Wealth follows free thinking and free markets |
| 0:13:09 | New generations create the future and disrupt existing industries |
| 0:15:21 | Investing in the new while adhering to time-tested principles |
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.
Replay: How to deal with people acting funny as your wealth grows
Wealth Mindset: The Universal Algorithm of Money (and Life)
Business: Insights from studying Apple Computer as a start up
Innovation: The future of manufacturing
Investing: Deflation trends towards abundance
Investing: Why banks keep failing in this environment
Investing: Buying Louis Vuitton as a bet on NFTs
Business: Embracing technology in your business
Investing: Emotional Intelligence is really all you need in investing
Real Estate: Building your real estate empire in the new world
Media: The intersection of NFTs and podcasting
Investing: Inflation is good for the future, not so much for the past
Business: Using ChatGPT in accounting
Finance 101: The nuts and bolts of how our economic system is financed
Real Estate: Turning homes into NFTs on the blockchain
Media: The economics of podcasting
Investing: The Lost Decades and what to do about the one around the corner
Business: How property and casualty losses affect the bottom line of a business
Wealth Mindset: Don’t chase the desires of your heart...Attracting them feels much easier
Real Estate: China, Russia, and OPEC’s impact on the Texas Real Estate Market
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
Aligned Money Show
Dubai Property Podcast
IBKR Podcasts
The Ramsey Show
The Clark Howard Podcast