Improving the Value of Your Balance Sheet

Key Takeaways:

1. Building wealth requires increasing total income in purchasing power relative to cost of living.
2. Purchasing power is separate from inflation and represents the rate of change or speed of progress.
3. The speed of progress varies depending on the currency and what you are buying.
4. In the next decade, the speed of change is predicted to be around 11% per year.
5. Investors should focus on industries that represent progress and optimism, such as public blockchains, gene sequencing, robotics, energy storage, and AI.

 

Chapters:

Timestamp Summary

[0:00:37] Introduction to the topic of improving the value of your balance sheet

[0:01:11] Explanation of assets and liabilities in a balance sheet

[0:03:19] Discussion on purchasing power and its relation to inflation

[0:07:22] The minimum rate of change needed to maintain purchasing power

[0:08:33] Explanation of deflationary factors in the current economic climate

[0:10:02] Comparison of individuals on different paths in the changing world

[0:11:08] Government intervention and the wealth gap

[0:11:49] The role of government in managing inflation

[0:11:52] Encountering rude individuals when you’re happy

[0:11:55] Conclusion and end of the conversation

[0:11:49] Bullies are attracted to happy people, teach kids to deal with them

[0:13:04] Governments print money to help people, but it creates problems

[0:14:43] Choose the right “arc” to invest in for the future

[0:15:17] Value is attracted to optimism, follow the pattern of progress

[0:18:14] Areas of opportunity: public blockchains, gene sequencing, robotics, energy storage, AI

[0:20:00] Wealth gap is due to few people in cutting-edge industries

[0:21:39] Blaming the rich won’t solve the wealth gap issue

[0:22:13] Embrace progress or lose privileges in a cooperative world

[0:23:43] Don’t be on the wrong side of progress, embrace change

[0:24:24] Philip Washington, Jr. on the historical state of the universe

[0:24:35] Disclaimer about the information presented

[0:25:02] Past performance not indicative of future performance

 

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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.