Key Takeaways:

1. Having a robust treasury function in your business can be critical for sustainability and growth, especially in a fluctuating economy.
2. Businesses should ideally maintain at least three to six months of operating expenses in cash as a buffer against market challenges.
3. Investment in assets like real estate or conservative stock portfolios can help businesses outpace inflation and build wealth over time.
4. The depreciating currency rate poses unique challenges for American small businesses, highlighting the need for strategic financial planning.
5. Long-term thinking and planning can position a business to capitalize on opportunities when market conditions cause competitors to falter.

Chapters:

Timestamp Summary

0:00:32 Performance is not indicative of future performance.

0:01:03 Importance of having a treasury or focusing on the treasury function in business.

0:01:57 Business is getting harder due to inflation and the need for a sustainable growth strategy.

0:04:17 Start with shoring up emergency cash and then consider other investments.

0:06:08 Currency depreciation and the need for strategic cash flow management.

0:07:38 CPA’s analysis on cash allocation for clients.

0:08:52 Planning for financial stability and turning April showers into May flowers.

0:09:39 Contact information for more information.

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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.

Key Takeaways:

1. Understanding historical and modern stores of value is crucial for making educated investments that span across space and time.
2. The best long-term investments are often in scarce assets that are resistant to laws, violence, manipulation, and collusion.
3. Rich individuals often transition profits from short-term, innovative ventures into more stable, hard currencies to preserve wealth.
4. Bitcoin presents a new paradigm as a liquid and secure store of value, challenging traditional assets with its fixed supply.
5. The ever-changing nature of finance requires adaptability and foresight, emphasizing that 'stability' in financial terms is largely illusory.

Chapters:

Timestamp Summary

0:00:00 Introduction and sponsorship messages

0:01:05 Finance is changing and those who don’t adapt will struggle

0:03:11 The challenge of storing value across space and time

0:05:27 The role of laws, violence, manipulation, and collusion in propping up value

0:06:45 The role of gold as a store of value

0:09:01 Borrowing from protected assets to invest in new ventures

0:10:16 The importance of saving excess money in hard currencies

0:11:29 Planning for the end of a business venture and converting equity to hard assets

0:11:59 Summary and conclusion

0:12:29 What’s the next version of innovation?

0:13:02 Investing in short term: being creative and productive

0:13:32 Converting profit to hard currency: gold, real estate, or bitcoin

0:14:28 Advantages and disadvantages of gold and real estate

0:15:04 Bitcoin: limited supply, liquidity, and financial markets

0:15:45 Bitcoin’s transformational potential

0:17:34 The system working towards abundance

0:18:14 Stability is a fallacy, move with the times

0:19:25 Don’t worry about inflation and job security, move with the times

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Follow Phillip Washington, Jr. on Instagram (@askphillip)

Subscribe to Wealth Building Made Simple newsletter

https://www.wealthbuildingmadesimple.us/

Thank you for checking out our free content on financial planning, the wealth mindset, and investing in innovation. If you've found value in our blog posts, I invite you to take your knowledge and commitment to the next level. Sign up for our premium paid newsletter today and receive daily insights and expert analysis directly in your inbox. Stay ahead of the curve and unlock the secrets to financial success. Don't miss out on this opportunity to deepen your understanding and gain an edge in the world of finance. Join our premium community now and embark on a journey towards financial abundance and investment excellence. Sign up today and let's grow together!

WBMS Premium Subscription

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.

Key Takeaways:

1. The importance of having a preemptive strategy, like a prenup or postnup, to protect business interests in case of a divorce.
2. The necessity to have life insurance equating to the business's worth to secure its value and provide for beneficiaries upon the owner's death.
3. Including disability scenarios in succession planning to ensure continuous business operation if the owner becomes incapacitated.
4. Ensuring clear defined roles and agreements for business partners to prevent and manage internal disagreements.
5. The need for contingency planning, such as maintaining sufficient cash reserves, to face economic downturns and hardships (distress).

Chapters:

Timestamp Summary

0:00:05 Introduction and disclaimer about investment advice

0:00:49 Discussion on the consequences of divorce in business

0:03:23 Importance of having a prenup or postnup agreement for business ownership

0:04:23 Planning for the transfer or sale of business assets upon death

0:05:16 Involving children or key employees in the succession plan

0:05:58 Suggestion to buy life insurance to protect the value of the business

0:07:17 Planning for business continuity in the event of disability

0:08:22 Defining roles and responsibilities to mitigate disagreements

0:10:00 Suggestion to manage stress and seek mediation in case of disagreements

0:11:24 Importance of contingency planning for business distress

0:11:56 Planning for economic recession and contingencies

0:12:29 Discussing disasters and distress in business

0:13:03 Importance of proper planning for entrepreneurs

0:13:23 Planning reduces stress and increases profit

0:13:55 Contact information for Alison Reiff Martin

0:14:13 Disclaimer and closing remarks

Powered by ReiffMartin CPA and Stone Hill Wealth Management

Social Media Handles

Follow Phillip Washington, Jr. on Instagram (@askphillip)

Subscribe to Wealth Building Made Simple newsletter

https://www.wealthbuildingmadesimple.us/

Thank you for checking out our free content on financial planning, the wealth mindset, and investing in innovation. If you've found value in our blog posts, I invite you to take your knowledge and commitment to the next level. Sign up for our premium paid newsletter today and receive daily insights and expert analysis directly in your inbox. Stay ahead of the curve and unlock the secrets to financial success. Don't miss out on this opportunity to deepen your understanding and gain an edge in the world of finance. Join our premium community now and embark on a journey towards financial abundance and investment excellence. Sign up today and let's grow together!

WBMS Premium Subscription

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.