Ep 01: The Wealth Equation

2020-03-22

Summary: Welcome to The Wealth Equation podcast! On this episode of the podcast, your host, Maurice L. Wilson, introduces himself to listeners, describing his career path thus far. When Maurice was preparing to enter college in the 1990s, there was a big push to encourage more African-American students to pursue engineering, which was intriguing to him. After a providential mistake, he ended up pursuing some of his education at Benedict College rather than Clemson University, as he had planned, which ended up thrusting him into a...

Summary:

Welcome to The Wealth Equation podcast! On this episode of the podcast, your host, Maurice L. Wilson, introduces himself to listeners, describing his career path thus far. When Maurice was preparing to enter college in the 1990s, there was a big push to encourage more African-American students to pursue engineering, which was intriguing to him. After a providential mistake, he ended up pursuing some of his education at Benedict College rather than Clemson University, as he had planned, which ended up thrusting him into a great situation.

He had a few brushes with investing over the years, but it wasn’t until he took a job at Chrysler and his 401(k) plan was being explained to him that he really comprehended deferring income, and his interest was officially piqued. He began researching investing and before long he decided to jump headfirst into the industry of financial advising. He witnessed the popping of the “dot com bubble” and the stock market crash of 2000, which he saw as opportunities for applying the problem-solving skills that he had learned as an engineer. He has now been working as a financial advisor for 15 years, essentially explaining to his clients how to use their time and money wisely to build wealth. On this podcast, Maurice will be teaching listeners his tried-and-true techniques for building wealth, also known as the amount of money needed to generate a stress-free return that produces enough money for you to live the life you want.

Key Quotes:

“A train wreck is more interesting than a successful train ride.”

“It was then that I decided I wanted to do something in the world of investments over engineering.”

“Even though I’m not an engineer in practice anymore, I am applying the principles that I learned in my current profession.”

What We Covered:

0:35 – Maurice’s journey into engineering.

1:45 – His experience at Benedict College.

3:10 – Maurice’s internship at Rolls Royce Aerospace.

5:35 – The turning point in his mindset towards investing.

7:01 – How he made the transition from engineering to investing as a profession.

7:50 – The goal of the Wealth Equation podcast.

9:43 – The wealth equation explained.