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Podcast 115: LaFoy Thomas, Generational Wealth

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Today on the Consumerism Commentary Podcast, Tom Dziubek speaks with LaFoy Thomas, attorney, investor and author of the book Generational Wealth: Business & Investing Guide to Building an Empire. LaFoy discusses the concept of financial sophistication and many other topics such as economic indicators, REITs (real estate investment trusts) and how to understand financial statements.

Consumerism Commentary Podcast #115
LaFoy Thomas, Generational Wealth: S05E11 / 138

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Table of contents

[00:00] Introduction from Tom Dziubek
[00:36] Interview with LaFoy Thomas
[00:50] Financial sophistication
[02:24] LaFoy’s financial background
[04:10] Economic indicators
[05:12] Understanding the GDP report
[06:21] The employment report
[07:07] Weekly jobless claims report
[07:53] Retail sales report
[08:20] Consumer price index
[09:02] Existing home sales report
[09:50] S&P Case-Shiller Home Price Index
[10:37] Where you can find these reports
[11:22] Real estate as an investing strategy
[13:08] Getting home loans
[14:39] The 1031 exchange
[15:54] REITs (Real Estate Investment Trusts)
[16:38] Reading financial statements
[17:26] The balance sheet
[17:39] The income statement
[18:28] The Four P’s
[20:35] Sole proprietorship and other business entities
[23:09] Setting up an LLC
[24:52] End

We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name.

Theme music by Mindcube.

Updated May 5, 2014 and originally published July 3, 2011. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes, also known as Flexo, is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow Luke Landes on Twitter. View all articles by .

{ 3 comments… read them below or add one }

avatar Cejay ♦1,521 (Half-Dollar)

HMMMMM this would not download for me? Maybe, I will try again tommorrow morning.

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avatar wylerassociate ♦162 (Cent)

very good podcast with lafoy thomas. Learning about the 1031 exchange was educational for me.

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avatar skylog ♦368 (Nickel)

great well-rounded podcast! a lot of great information in this one!

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