Tag Archives: investing

Episode-2273- John Pugliano and Jack Spirko on The Richest Man in Babylon

I reached out to expert council member John Pugliano about doing this episode with me.  I feel the biggest weakness in what our young people are not taught today, above all other things how to handle, earn, manage and invest money.   While not the end all be all, I find The Richest Man in Babylon to be one of the best foundations on how to think about money ever written.  John and I break this classic down today using the following outline of some of the main concepts presented in the book.

There are also some surprises in today’s show, a phone call from Patrick Roehrman, the arrival of Nick Ferguson and more.  John and I did this recording at my kitchen table while he was visiting for the 10 Year Anniversary Party.  Lots of other TSP folks were on the way in, so rather than edit out the disruptions we rolled with them.  It makes for a fun show.

SUMMARY: Richest Man in Babylon

5 Laws of Gold (my version: money flows to where it’s treated best)

  • 1. Gold cometh gladly and in increasing quantity to any man who will put by not less than one-tenth of his earnings to create an estate for his future and that of his family.
    • a. A portion is yours to keep.
    • b. 10%….my recommendation is 20% (in modern times, taxes eat up too much real income)
    • c. SAVE before you start to think about investing.
      • i. You can’t take advantage of Opportunity unless you have resources
        1
  • 2. Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field.
    • a. Money likes to “work” and doesn’t complain about being a “slave”….it works without compensation.
    • b. Money has no mind…YOU must find it profitable employment.
    • c. Magic of compounding interest…money multiplies.
      • i. Law of 72
        1
  • 3. Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling.
    • a. Emphasize “protection” & “cautious”.
    • b. Be patient and disciplined….it takes TIME.
    • c. Invest vs Speculate (4th part of my book)
    • d. Seek out wise men…mentors. (take an old guy to lunch)
      • i. Knowledge in a specific field.
      • ii. Ignore ideology or imperfections…avoid Hero Worship
        • e. If times get tough or even if they don’t.
          • i. Plan for prosperity and failure…within your sphere of influence & control.
          • ii. If you have dependents buy term life insurance.
            1
  • 4. Gold slippeth away from the man who invests it in businesses or purposes with which he is not familiar or which are not approved by those skilled in its keep.
    • a. You have to fix Stupid before you can fix Broke.
    • b. Don’t take advice from Stupid or Broke people.
      • i. Advanced advice: avoid these people all together.
        1
  • 5. Gold flees the man who would force it to impossible earnings or who followeth the alluring advice of tricksters and schemers or who trusts it to his own inexperience and romantic desires in investment.
    • a. Reality: lots of people are trying to screw you.
    • b. You’re NOT that smart.
    • c. Diversify because you’re going to have LOTS of failures.

Work – The Generator of Weath

  • 1. Wealth comes from work.
  • 2. First learn to work, then learn to have others work for you.
    • a. Start with what you know, where you are.
    • b. Story of Baker looking to buy a slave.
      • i. You can buy your own freedom.
      • ii. Work to acquire experience.
  • 3. Money is your ultimate slave.
    • a. The Boss/Owner has money, the Employee is broke.

Debt – The Enslaver of the Fool

1. Magic of Compounding Interest working against you.
2. Debt is SLAVERY…period.

Resources for today’s show…

Remember to comment, chime in and tell us your thoughts, this podcast is one man’s opinion, not a lecture or sermon. Also please enter our listener appreciation contest and help spread the word about our show. Also remember you can call in your questions and comments to 866-65-THINK (866-658-4465) and you might hear yourself on the air.

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Episode-2028- Amanda Johnson on the Cryptocurrency DASH

Amanda is the world’s first freelancer to be paid directly by blockchain — in this case, the DASH blockchain. DASH is an up-and-coming competitor to Bitcoin which has been delivering practical solutions to painful cryptocurrency problems since it launched in January 2014.

Amanda is the head writer/anchor for Dash’s YouTube presence: a series called DASH: Detailed. She has also written cryptocurrency analysis pieces for Bitcoin Magazine, CoinTelegraph, and Finance Magnates.

Join Amanda and I Today as we Discuss…

  • What exactly is DASH
  • What makes DASH more than just another “alt coin”
  • What is it going to take to get “mass adoption” of cryptocurrency
  • What will it mean if DASH or any crypto reaches mass adoption
  • If DASH is headed in the right direction why aren’t others emulating it
  • The new “grandmother friendly” version of DASH and when it is coming
  • How can people buy DASH today

Resources for today’s show…

Sponsors of the Day

Remember to comment, chime in and tell us your thoughts, this podcast is one man’s opinion, not a lecture or sermon. Also please enter our listener appreciation contest and help spread the word about our show. Also remember you can call in your questions and comments to 866-65-THINK (866-658-4465) and you might hear yourself on the air.

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Want Every Episode of TSP Ever Produced?

Remember in addition to discounts to over 40 vendors who supply stuff you are likely buying anyway, tons of free ebooks and video content, MSB Members also get every edition of The Survival Podcast ever produced in convenient zip files in blocks of 24. More info on the MSB can be found here.

Episode-2005- Bryan Young on Cryptocurrency in Layman’s Terms

Bryan is usually a generalist, but the space program piqued his interest in technology in the early 1980s. By age 10, he had begun learning electronics and basic computer programming. He has degree in electrical engineering and has spent over 20 years helping manufacturing clients use automation to improve productivity.

Bryan also enjoys amateur radio, kayaking and camping, beekeeping and orcharding. He loves to learn and to work with his hands building, fixing, and tinkering.

Bryan found the TSP community in late 2012 and listens to the show daily.  Bryan has been researching blockchains, cryptocurrencies and their practical applications for his personal use.  He joins us today to discuss cryptocurreny, wallets and the bitcoin hard fork in laymen’s terms.

Join Us As We Discuss…

  • What’s the difference between on-chain and off-chain transactions
  • How do you evaluate and learn the different wallet applications
  • What is an online wallet
  • What are the advantages and disadvantages of an online wallet
  • Why might you use this type of wallet
  • What is a software wallet
  • What are the advantages and disadvantages of a software wallet
  • What is a hardware wallet
  • What are the advantages and disadvantages of a hardware wallet
  • What is a paper wallet
  • What are the advantages and disadvantages of a pepper wallet
  • How do you backup the different kinds of wallets
  • What’s up with a Bitcoin hardfork and how does it affect my Bitcoin

Resources for today’s show…

Sponsors of the Day

Wallets Bryan Recommends

Remember to comment, chime in and tell us your thoughts, this podcast is one man’s opinion, not a lecture or sermon. Also please enter our listener appreciation contest and help spread the word about our show. Also remember you can call in your questions and comments to 866-65-THINK (866-658-4465) and you might hear yourself on the air.

Join the MSB Today

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Want Every Episode of TSP Ever Produced?

Remember in addition to discounts to over 40 vendors who supply stuff you are likely buying anyway, tons of free ebooks and video content, MSB Members also get every edition of The Survival Podcast ever produced in convenient zip files in blocks of 24. More info on the MSB can be found here.

Episode-1749- Financial Preparedness the Modern Survivalist Way

It Would Be Funny If It Wasn't So Accurate

It Would Be Funny If It Wasn’t So Accurate

Tuesday shows are always stand alone, just Jack shows on a particular subject.  Today’s will be on financial prepping, next Tuesday will be on guns and the following will be on food storage and prep.  This was all due to the results of an informal Facebook poll.  You can see the post and results here.

To that end I will be doing more stuff like this in the future to let you guys tell me what topics you want covered.  Today we delve into financial preparedness in a way you won’t ever learn in school and almost no “financial adviser” will ever assist you with, except perhaps John Pugliano.

Economics and the reality of unfunded liabilities, the national debt along with everyday financial worries is the number one reason people get into the preparedness lifestyle.  Sometimes it is from a practical approach but just as often it is panic and fear based.  Today we set aside panic and establish a base of common sense and pragmatic techniques to build, preserve and protect wealth.

Join Me Today To Discuss…

  • The number one wealth killer – poverty consciousness
  • The number two wealth killer – consumer age thinking
  • Why the two are actually related and not as oppositional as you’d think
  • The lesson of the game Monopoly
  • Why debt is cancer and must be eradicated
  • Why saving is more important than investing for most people
  • The lessons of alternative energy
    • Start with increasing efficiency (income)
    • Reduce losses (spending)
  • My rules for truly becoming financially resilient
    • Increase your economic IQ – daily for a year at least
    • Save money, determine what you can save, then do a bit more
    • Reduce expenses in small ways, put at least half of it away
    • Create additional income (business, second job, more hours)
    • Save money (cash on hand, cash in bank, CDs, bonds)
    • Become a land owner on some level
    • Put some money into silver/gold (5-10% of NW)
    • Put some money into bitcoin (a little each month or quarter)
    • Become a producer of food, yes, really
    • Plant trees
    • Buy the best you can afford once vs. cheap twice
    • Become highly skilled at fixing your own problems
    • See opportunity everywhere because it is everywhere
    • Become a great cook
    • Invest in only what you understand and only when it makes sense
    • Get out of the way of telegraphed punches, yes time the market
    • Pay off all debt asap, I know I said it before and I will keep saying it
  • Final thoughts – The game is rigged, it is a big club, you are not in it!

Resources for today’s show…

Sponsors of the Day

ginkgobilobaBob Wells Plant of the WeekGinkgo Biloba Tree – Adaptable from zone 4 to zone 9.

Ginkgo Biloba, also known as maidenhair tree, is a deciduous tree. These trees are extremely long-lived, with individual specimens surviving for up to 3,000 years. Ginkgo Biloba trees have distinctive leaves that flutter in the slightest breeze.

Once fall arrives, the leaves turn golden or bright yellow before carpeting the ground. The extract from the leaves are used in Ginkgo Biloba supplements to improve memory, symptoms of dementia and blood flow.

Bob Wells specializes in edible landscape, including: Fruit Trees, Berry Plants, Nut Trees, as well as the hard to find Specialty Fruit Trees. Find this plant and more at BobWellsNursery.Com

Remember to comment, chime in and tell us your thoughts, this podcast is one man’s opinion, not a lecture or sermon. Also please enter our listener appreciation contest and help spread the word about our show. Also remember you can call in your questions and comments to 866-65-THINK (866-658-4465) and you might hear yourself on the air.

Also remember we have an expert council that can answer you questions. If you have a question send it to jack at thesurvivalpodcast.com with TSPC Epert in the subject line. Ask your question in one to two sentences so it is clear then provide any additional details. Make sure to tell me what council member the question is for. You can Meet the Expert Council at this Link.

Join the MSB Today

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Want Every Episode of TSP Ever Produced?

Remember in addition to discounts to over 40 vendors who supply stuff you are likely buying anyway, tons of free ebooks and video content, MSB Members also get every edition of The Survival Podcast ever produced in convenient zip files in blocks of 24. More info on the MSB can be found here.

Episode-1628- Five Financial Landmines to Avoid when Buying Land

Scott Todd - Founder of Landmodo.com

Scott Todd – Founder of Landmodo.com

Scott Todd is a principal at Landmodo.com, a land investment firm that buys and sells land throughout the US. Scott and his wife started the company to help others have a chance of land ownership.

Since 2012, Scott has watched as land owners make the same common repeated problems when it come to buying and owning land and he’s on a mission to help others discover how to avoid common issues with buying and owning land.

Land acquision is one of the most common goals among the TSP audience.  Some want farms, some want homesteads, some want BOLs and others just land for investment.  The smartest among you want all of those in one.

The issue though is land while a great investment is also full of risks.  Worse most people have been lied to and believe that land and home ownership is largely the safest of all investments.  Well purchased smartly it can be, yet their are 5 huge pitfalls you need to avoid to make that happen.

Today We Discuss 5 Major Problems When Buying and Owning Land

  • Buying land without confirming that the deed is transferable
  • Not having an exit strategy
  • Not understanding the 3 deed types
  • Not holding title correctly
  • Not understanding the limitations of the land

Resources for today’s show…

Remember to comment, chime in and tell us your thoughts, this podcast is one man’s opinion, not a lecture or sermon. Also please enter our listener appreciation contest and help spread the word about our show. Also remember you can call in your questions and comments to 866-65-THINK (866-658-4465) and you might hear yourself on the air.

Join the MSB Today

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Want Every Episode of TSP Ever Produced?

Remember in addition to discounts to over 40 vendors who supply stuff you are likely buying anyway, tons of free ebooks and video content, MSB Members also get every edition of The Survival Podcast ever produced in convenient zip files in blocks of 24. More info on the MSB can be found here.

 

Episode-1482- John Pugliano on Small Business as a Wealth Building Tool

John Pugliano of Investable Wealth

John Pugliano of Investable Wealth

John Pugliano is a late blooming entrepreneur and the founder of Investable Wealth, LLC an independent fee only investment advisory firm. John served in the military for 7 years before starting a 20 year corporate career in sales and marketing of industrial products.

More importantly he followed his passion and honed his skills as an individual investor for over 25 years before becoming an investment adviser. Understanding the plight of the retail investor, he advises clients using the experience he gained while managing his own portfolio. John has recently launched the Wealthsteading Podcast.

John practices what he preaches. He believes in first being a disciplined saver, getting your preps in order, and then investing in the stock market. John is a long time TSP listener, he’s a MSB member, and a PermaEthos Founder.

Today he joins us to discuss small business ownership as a primary method of building wealth.  In this show John discusses getting mentors, developing entrepreneurship groups, funding your start up, building local and then reaching out nationally or internationally.

He then goes into why value add is a great entry method into business start up.  How you can gain insight by talking to local businesses and business owners.  John also explains the necessity of a simple business plan, keeping employee head count low or even to zero and learning from your mistakes.

Resources for today’s show…

Remember to comment, chime in and tell us your thoughts, this podcast is one man’s opinion, not a lecture or sermon. Also please enter our listener appreciation contest and help spread the word about our show. Also remember you can call in your questions and comments to 866-65-THINK (866-658-4465) and you might hear yourself on the air.

Also remember we have an expert council you can address your calls to. If you do this you should email me right after your call at jack at thesurvivalpodcast.com with expert council call in the subject line. In the body of your email tell me that you just called in a question for the council and what number you called in from. I will then give the call priority when I screen calls.

Join the MSB Today

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Want Every Episode of TSP Ever Produced?

Remember in addition to discounts to over 40 vendors who supply stuff you are likely buying anyway, tons of free ebooks and video content, MSB Members also get every edition of The Survival Podcast ever produced in convenient zip files in blocks of 24. More info on the MSB can be found here.

Episode-1281- John Pugliano on 10 Trends for 2014

John Pugliano of InvestableWealth.com

John Pugliano of InvestableWealth.com

John Pugliano is a self taught investor with over 25 years of investment experience. Recently he founded Investable Wealth, LLC to offer independent advice and money management based on his stock trading philosophy and methods. John has served in the military and worked for several large corporations.

He is the father of six. John and his wife Cheryl live happily and debt free in Utah. John spent 20 years in corporate America as an industrial products business development salesman. More importantly for past 25+ years he has taught myself to invest in the stock market and today has a net worth in excess of 1 million dollars.

He is now a licensed financial adviser and owner of an investment advisory firm. Like myself, John has had an extremely low opinion of the financial adviser industry- which is one reason why he has started his own firm.

Join US As We Discuss John’s 10 Trends to Watch in 2014

  • Disregard for rule of law by typically law abiding citizens
  • The paradox of inflationary deflation
  • A interesting mid term election
  • Executive order and regulatory agency decrees
  • A continued energy boom, despite the government not because of it
  • Growth and expansion of free and online education options
  • Continued advancement in automation processes
  • Continued growth and acceptance of alternative currencies
  • Surprising growth of the “liberty movement”
  • The continued growth individual entrepreneurship

Resources for today’s show…

Remember to comment, chime in and tell us your thoughts, this podcast is one man’s opinion, not a lecture or sermon. Also please enter our listener appreciation contest and help spread the word about our show. Also remember you can call in your questions and comments to 866-65-THINK (866-658-4465) and you might hear yourself on the air.

Also remember we have an expert council you can address your calls to. If you do this you should email me right after your call at jack at thesurvivalpodcast.com with expert council call in the subject line. In the body of your email tell me that you just called in a question for the council and what number you called in from. I will then give the call priority when I screen calls.

Our Expert Council is Made Up of…

Join the MSB Today

Join the MSB Today

Want Every Episode of TSP Ever Produced? Remember in addition to discounts to over 40 vendors who supply stuff you are likely buying anyway, tons of free ebooks and video content, MSB Members also get every edition of The Survival Podcast ever produced in convenient zip files in blocks of 24. More info on the MSB can be found here.

Episode-1219- John Pugliano on Rules for the Beginning Investor

John Pugliano of InvestableWealth.com

John Pugliano of InvestableWealth.com

John Pugliano is a self taught investor with over 25 years of investment experience. Recently he founded Investable Wealth, LLC to offer independent advice and money management based on his stock trading philosophy and methods.

John has served in the military and worked for several large corporations. He is the father of six. John and his wife Cheryl live happily and debt free in Utah.

John spent 20 years in corporate America as an industrial products business development salesman.  More importantly for past 25+ years he has taught myself to invest in the stock market and today has a net worth in excess of 1 million dollars.

He is now a licensed financial adviser and owner of an investment advisory firm.  Like myself, John has had an extremely low opinion of the financial adviser industry- which is one reason why he has started his own firm.

Join Me As We Discuss John’s Formula for Beginning Investor…

  • 1. First get your preps in order
  • 2. Research & Education
  • 3. Only invest what you’re prepared to lose
  • 4. Open an account at a discount broker
  • 5. Only trade index ETSs- SPY, QQQ, IWM, etc ( if locked into a 401K)
  • 6. Swing trade between cash and index ETFs based on market sentiment
  • 7. Buy a little late into the rally and get out early
  • 8. Never Buy & Hold
  • 9. Learn from your mistakes

Resources for today’s show…

Remember to comment, chime in and tell us your thoughts, this podcast is one man’s opinion, not a lecture or sermon. Also please enter our listener appreciation contest and help spread the word about our show. Also remember you can call in your questions and comments to 866-65-THINK (866-658-4465) and you might hear yourself on the air.

Also remember we have an expert council you can address your calls to. If you do this you should email me right after your call at jack at thesurvivalpodcast.com with expert council call in the subject line. In the body of your email tell me that you just called in a question for the council and what number you called in from. I will then give the call priority when I screen calls.

Our Expert Council is Made Up of…

Join the MSB Today

Join the MSB Today

Want Every Episode of TSP Ever Produced?

Remember in addition to discounts to over 40 vendors who supply stuff you are likely buying anyway, tons of free ebooks and video content, MSB Members also get every edition of The Survival Podcast ever produced in convenient zip files in blocks of 24. More info on the MSB can be found here.

 

Episode-1144- Building Wealth with John Pugliano

John Pugliano has been in corporate America for past 20+ years as an industrial products business development salesman.  More importantly for past 25+ years he has taught myself to invest in the stock market and today has a net worth in excess of 1 million dollars.

Recently he has become licensed and started an investment advisory firm.  Like myself, John has had an extremely low opinion of the financial adviser industry- which is one reason why he has started his own firm.

John joins us to discuss building wealth and steps to financial independence (get rich slow, 21 years or less, depending on your knowledge and situation).   This is a “beyond Dave Ramsey” get out of debt concept with three critical steps

  • 1) Learn a marketable skill
  • 2) Get paid for achievement not by the hour
  • 3) Develop passive income.

Today we discuss how this works based on Thomas Stanley’s book “The Millionaire Next Door”.   We also discuss how can just about anyone become financially independent in 21 years or less. Ways to detect “financial liars.  How to get your kid’s to fund their own education and how living debt free is the ultimate way to run your financial life.

Resources for Today’s Show…

Remember to comment, chime in and tell us your thoughts, this podcast is one man’s opinion, not a lecture or sermon. Also please enter our listener appreciation contest and help spread the word about our show. Also remember you can call in your questions and comments to 866-65-THINK and you might hear yourself on the air.

Episode-1134- Understanding and Investing in Silver

Custom Medallions a Just One Option for the Silver Investor.

Custom Medallions a Just One Option for the Silver Investor.

I’ll promise right  up front that this will not be a TSPMint.com infomercial.  In fact I will spend the majority on the show on other types of silver, why silver is a great investment and why many “fears” and “concerns” with buying silver are not worth worrying about.

I also want to talk about the real and false reasons behind the recent drop in precious metals pricing.  There are two things going on here, prices should be coming down but not as far and not as fast as they are.  Just as speculation can drive up a commodity (especially when it is going up some via real market forces) so too can speculation drive a commodity down.

Additionally I want to really discuss why I suggest only 5-10% of your wealth in silver and gold and why I don’t recommend platinum and palladium in that number.  I will also discuss why I don’t recommend jewels or even really jewelry in that number, though jewelry can be one great way to increase metal holdings.

Join Me Today As We Discuss…

  • Why I focus on silver over gold
    • The delta still favors silver
    • Silver has many uses that use it up
    • Silver is the common man’s currency
    • Silver is more widely available and for now incurs less oversight
  • Types of silver and what makes each unique
    • Generic bars and rounds (ounce and fractional)
    • Custom medallions and pieces (ounce and fractional)
    • Collectable silver (numismatic, affinity, etc)
    • Bars (5 ounces and up)
    • American Silver Eagles
    • International Government Issued Silver (Aussie, Canadian, Mexican, etc.)
    • U.S. Pre 65 Silver Coinage (90%)
  • Methods of storing your silver
    • In slab floor safe
    • Fire proof safes
    • Private storage
    • Bank safety deposit box
    • Silver banking (why I don’t like it yet)
    • Paper silver
    • Buried in the ground (don’t do this!)
    • The multi cache method (a little of all)
  • Inventory and audit
    • Don’t think you know, know
    • Don’t think in dollars (it will make you happy and sad about nothing)
    • Do inventory types, not just ounces
    • Do photograph items in type stacks (for insurance)
    • Do update your inventory often
  • Final thoughts
    • If you don’t think you can afford silver right now you can’t
    • Take a balanced approach
    • This is not likely to make you rich, but it might, who knows
    • Selling silver is never as smart as trading it
    • Don’t worry about confiscation, really don’t do it

Resources for today’s show…

Remember to comment, chime in and tell us your thoughts, this podcast is one man’s opinion, not a lecture or sermon. Also please enter our listener appreciation contest and help spread the word about our show. Also remember you can call in your questions and comments to 866-65-THINK and you might hear yourself on the air.