Buck and Zulfi dive into the implications of the recent election results, with a focus on the Trump presidency’s potential impact on financial markets, regulatory shifts, and economic policies. They analyze the ‘Trump trade,’ anticipated changes in regulations and tax policies, and the ripple effects on real estate, tariffs, and the broader economic landscape. Key topics include the roles of tariffs, immigration, and the Federal Reserve in inflation management, as well as insights on market trends in cryptocurrency and real estate—offering a roadmap for strategic investment in a changing economic climate.

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Kamala Harris’s big loss on Tuesday night caught almost everyone off guard. Despite widespread expectations that she’d be at least slightly ahead going into the election, the reality turned out starkly different: she got crushed.

In those critical battleground states—Pennsylvania, Wisconsin, Michigan, Arizona, Nevada—where many assumed she had an edge, Trump surged past expectations.

Just days before the election, the Des Moines Register poll, one of the most respected in political circles, had Harris leading by 3 points in Iowa. The New York Times and Siena College polling also showed her ahead in several battlegrounds, with Trump solidly up only in Georgia and Arizona. But these numbers were way off on election day.

Even in typically blue strongholds, the polling was off. In Maryland, where Democrats usually don’t even blink at the polls, Harris underperformed her polling average by over a percentage point, while her Republican opponent exceeded expectations by 4 points.

Even in New Jersey, another traditionally blue state, polls were wildly off the mark. Rutgers ran a poll in mid-October that missed Trump’s numbers by double digits, and even the most accurate polling underestimated the gap between the two candidates by six points. 

But this isn’t the first time polls have missed the mark by such a wide margin. It happened in 2016, too, when pollsters underestimated the support for Trump because their traditional methods didn’t reach the “silent” Trump supporters—those less likely to take a survey call or respond to pollsters. The same trend seems to have repeated itself in 2024, raising the question: are polling methods outdated?

It’s clear that something needs to change and perhaps artificial intelligence may be the answer. Traditional polls rely on people actually picking up the phone and answering questions, but AI could do so much more. 

By analyzing enormous amounts of data in real time—everything from shifts in demographics to social media sentiment—AI has the potential to capture a far more nuanced picture of voter sentiment. 

This shift could mean fewer reliance on who answers a call and more focus on where people’s attitudes and thoughts are actually trending.

One guy who didn’t get it wrong in 2016 or in 2024 is my guest on Wealth Formula Podcast this week: Jim Richards. Jim has a unique perspective on why polls keep getting things wrong, even as voter behavior changes and political dynamics shift. On this week’s show, we discuss that as well as his new book on how artificial intelligence will affect the economy and national security.

The post 477: What Pollsters Got Wrong, AI, and the Economy with Jim Rickards appeared first on Wealth Formula.

Communication coach Donald Weber dives into the power of effective communication in leadership and personal interactions. He highlights the impact of nonverbal cues, voice dynamics, and gestures on delivering messages with clarity and influence. The conversation explores practical techniques for sharpening communication skills, engaging audiences, and overcoming common public speaking challenges. 

The post It’s Not What You Say, But How You Say It appeared first on Wealth Formula.

Buck and Zulfi discuss the current political climate on election day, the implications for the economy, and investment strategies. They explore the performance of gold and real estate as investment options, the impact of AI on market trends, and the significance of economic indicators such as inflation and unemployment rates. The discussion also touches on the potential for investment opportunities in a bull market, particularly in real estate and uranium stocks.

The post 476: Finance News of the Week 11/06/24 appeared first on Wealth Formula.

When it comes to building wealth, I’m all about putting money into assets that work for you. 

Gold has been performing great this year and it has got a certain allure – it’s stable, it’s shiny, and it’s stood the test of time as a “safe haven.” 

But, to me, gold’s appeal has some limitations. It doesn’t generate income or adapt to a growing economy. It’s a static asset – just sitting there, relying on scarcity and market sentiment for value. 

Compare that to cash-flowing real estate, which earns rental income, appreciates with time, and reinvests in itself. With real estate, your money is working as hard as you are, creating compounding value. Gold, by contrast, just… exists.

Gold shines during uncertainty, which is why people flock to it during market turmoil. But cash-flowing assets, like real estate, can also perform steadily if they’re managed properly. The issues that real estate runs into in rough times relate to the leverage, not to the real estate itself. So, perhaps part of your real estate portfolio should be unleveraged?

Physical gold is tangible and can feel reassuring – like you’re holding real wealth. But it requires secure storage and insurance, which are ongoing costs. Gold ETFs offer easier access and are cost-effective, but in a true crisis, a piece of paper representing gold isn’t as solid as the real thing. Both have their pros and cons, but neither produces income.

Investing in real estate doesn’t just store wealth; it creates it. You’re part of the economy by providing essential spaces and earning rental income, all while the property value grows.

Real estate adapts, reinvests, and compounds – which gold doesn’t. In short, real estate has the flexibility to evolve with the market, while gold’s value remains static.

Gold isn’t free to own either. Physical gold comes with storage fees, insurance, and sometimes appraisal costs. Real estate has maintenance costs too, but those are more than offset by rental income. With gold, you’re continuously paying without any return – it’s a net cost, not an asset that actively pays you back.

But… I will concede one thing… gold has been around a long time and will continue to be in the future. As a hedge against inflation it has withstood the test of time. 

An ounce of gold once bought a Roman man a nice toga and pair of sandals and today it will buy you a very nice suit and pair of shoes.

And for that reason, you may still consider owning some gold. This week’s episode of Wealth Formula Podcast will give you some guidance on how to do that.

06:02 The Current State of Gold Prices

08:21 Physical Gold vs. ETFs: A Comparative Analysis

11:01 Understanding Counterparty Risk in Gold Investments

14:19 Tax Implications of Gold Investments

16:53 Best Practices for Storing Precious Metals

The post 475: Gold – Physical vs ETFs and Related Issues appeared first on Wealth Formula.

Buck and Zulfe discuss the implications of gold-backed bonds, the current economic outlook, the impact of the upcoming election on fiscal policies, and the trends in Bitcoin and the tech industry. They explore how these factors intertwine and influence market dynamics and the future of investments and economic strategies.

The post 474: News of the Week 10/30/24 appeared first on Wealth Formula.

Gold bugs love to float the idea of bringing back the gold standard, tying the value of the U.S. dollar to a fixed amount of gold. On the surface, it might sound like a great way to return to “sound money.” But if you dig a little deeper, it’s full of problems that would likely take us backward rather than forward.

First, let’s talk about deflation, one of the scariest economic forces out there. Economist Richard Duncan and others warn that a gold standard would likely send us straight into a deflationary spiral. 

Think of it this way: when prices drop, businesses make less money, wages fall, and people stop spending. It’s a vicious cycle that can turn a recession into a full-blown depression. 

This is exactly what happened during the Great Depression, and a gold standard would lock us into this kind of problem again by tying the economy’s hands behind its back.

Then there’s the issue of economic growth. The modern economy moves fast—faster than gold supplies can keep up. By tying our money to gold, we’d basically put a chokehold on progress. 

Businesses wouldn’t be able to invest or hire as easily because the money supply would be so tightly constrained. In short, we’d be stifling innovation and economic expansion just because there isn’t enough gold to go around.

The reality is that today’s economy is far more complex than it was back when the gold standard was in place. We’ve faced massive shocks like the 2008 financial crisis and the COVID-19 pandemic, and the government’s ability to respond quickly was critical. 

The Federal Reserve was able to pump money into the economy when it was needed most. Under a gold standard, that would be impossible. We’d be stuck, watching recessions deepen with no way to cushion the blow.

And finally, the logistics of actually going back to a gold standard? Nearly impossible. The government would have to buy massive amounts of gold to back the current money supply, which would be chaotic and insanely expensive. It would be a transition full of confusion, and it could tank the economy in the process.

My guest on Wealth Formula Podcast this week advocates for a slightly different approach then a gold standard—a gold-collateralized bond. Her idea is to use the Federal Reserve’s gold reserves as collateral to allow the U.S. Treasury to borrow more cheaply. 

She envisions it as a product for investors, similar to TIPS bonds (which protect against inflation). Even if you’re not a gold bug, this concept actually makes a lot of sense. It would give the Treasury access to low-cost borrowing while providing investors with a stable, gold-backed product—offering some of the benefits of gold without the downsides of a full gold standard. She’s written a book on the idea and shares it with us on this week’s show.

05:43 Introduction to Judy Shelton and Monetary Policy

11:43 The Concept of a Gold Standard

14:32 Proposing Gold-Backed Bonds

17:55 Investor and Government Benefits

20:44 The Role of Gold in Inflation Protection

23:40 International Monetary Reform and Trade

26:45 Criticism and Support

The post 473: A Sound Money Bond? appeared first on Wealth Formula.

Buck discusses the intersection of financial success and health, emphasizing the importance of longevity medicine. He introduces the concept of a proactive approach to health, advocating for education and empowerment in disease prevention. Buck also unveils his Longevity Roadmap course, designed to help individuals understand their health and prevent diseases, ultimately aiming to enhance their quality of life alongside their financial well-being.

The post Your Health: The Missing Piece in Your Wealth Strategy appeared first on Wealth Formula.

Buck and Zulfe discuss the current state of the real estate market, economic indicators, and the Federal Reserve’s policies. They explore the implications of institutional investments in real estate, the potential for a soft landing in the economy, and the impact of global factors on commodities like gold and silver. The conversation also touches on the speculative nature of Bitcoin in the context of political developments.

00:07 Introduction and Current Events

03:37 Real Estate Market Insights

11:01 Economic Overview and Federal Reserve Policies

18:10 Market Reactions and Predictions

25:01 Global Economic Factors and Commodities

The post 472: News of the Week 10/23/24 appeared first on Wealth Formula.

We’re now in the 4th quarter, and our investor club will have one last chance to leverage a 60% bonus depreciation on multifamily properties this year. If you haven’t signed up for the investor club yet, be sure to do so, as I will be sending out information on this opportunity in the next few days.

While tax benefits are a major reason to invest in real estate, there are many other reasons to enter the market soon. After a period of uncertainty, I believe we’ve entered a growth phase in the real estate cycle, even if it isn’t obvious to everyone. The market is showing clear signs of recovery, making apartment building investments more attractive than they’ve been in over a decade.

Despite recent economic turbulence, the U.S. economy has held up better than expected. Inflation is cooling, growth is stabilizing, and real estate is benefiting. Big money is returning, lenders are easing back in, and the gears of the market are finally turning again. For those who’ve been on the sidelines, I truly believe now is the time to jump back in.

As always, the key to real estate is making smart buys in the right locations. While some areas are oversaturated, others are thriving with job growth and migration. Cities like Austin, Charlotte, and Phoenix, where tech and business sectors are booming, are absorbing new housing supply with ease. Demand for rentals in these high-growth cities remains incredibly strong, so vacancy isn’t a concern in the markets that matter.

Furthermore, multifamily properties have never been more attractive to institutional investors. People will always need housing, and with homeownership still expensive, rental demand continues to rise. Even with new units hitting the market, the long-term outlook is solid, driven by a nationwide housing shortage. As interest rates stabilize, transaction volumes are expected to increase, unlocking liquidity and driving prices up.

But remember, the best deals happen when you buy at the right time. You have to beat the froth. Prices are favorable now, but they won’t stay that way for long. We’re seeing a slowdown in new construction, with starts down 45% from pre-pandemic levels.

By 2026, fewer new properties will come to market, tightening supply and driving stronger rent growth and higher occupancy rates. Getting in now positions you perfectly for when the market heats up.

Look at cities like Phoenix, Dallas, and Tampa—economic vitality and population growth are fueling demand and supporting rent growth. Even major cities like New York and Los Angeles, which struggled during the pandemic, are bouncing back as people return to urban areas.

The opportunity is clear: markets with strong job growth and migration are primed for outperformance. If you identify these high-growth areas early, you could see significant returns as the market recovery gains momentum.

This is no longer just about surviving a tough period—it’s about thriving. By focusing on regions with booming economies, rising populations, and a persistent housing shortage, you’re setting yourself up to capitalize on the next wave of growth. The market is moving, and multifamily investments are where the smart money is. Those who act now will be the ones to come out on top.

That’s it for my take. This week’s guest on the Wealth Formula Podcast will share his thoughts on the topic as well. He’s a real estate economist and consultant who writes for U.S. News & World Report, so tune in to hear his expert perspective!

07:33 Introduction to Real Estate Trends

14:43 Current State of Single Family Homes

18:01 Multifamily Market Dynamics

21:09 Impact of Climate Change on Housing

24:09 Demographic Shifts and Migration Patterns

26:03 Election Policies and Real Estate

28:04 Technology’s Role in Real Estate

30:58 Changes in Real Estate Commissions

The post 471: Catching Up on Real Estate appeared first on Wealth Formula.

Buck reflects on the importance of memories over material possessions. He emphasizes that true wealth lies in the experiences we share with loved ones, which create lasting happiness and bonds. Through personal anecdotes, he illustrates how investing in memorable experiences, such as attending events with family, yields a tremendous return on investment in terms of emotional fulfillment and relationship building.

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