March 21, 2023

NYN E4: Private Equity, Wealth Management, and Passive Income: Creating a Vision for Your Life - Philip Palumbo

NYN E4: Private Equity, Wealth Management, and Passive Income: Creating a Vision for Your Life - Philip Palumbo

In this episode, Steven Pesavento talks to Philip Palumbo about the three ways people grow their money over time: stocks, real estate, and private equity. As someone whose net worth is largely tied up in his private business, Palumbo discusses the pros and cons of investing in your own business versus other investment strategies. He also shares his personal vision for creating passive income and explains why it's so important to have a clear vision for your life.

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Season 2

Key Takeaways

  1. Private equity is essentially owning a private business, and it's one of the three ways people can grow their money over time
  2. How it can be operationally heavy, while investing in other businesses can be more passive
  3. It's important to consider diversifying your investments to minimize risk.
  4. Creating passive income is crucial for building long-term wealth and financial stability.
  5. Having a clear vision for your life and financial goals is essential for making smart investment decisions.

Resources Mentioned

Interested in connecting with other like-minded individuals? Then join our VonFinch Private Capital Network.  Learn more at http://www.vonfinch.com/invest. 

About our Guest:

Philip Palumbo is a wealth management expert who has spent decades helping his clients grow their net worth through smart investments. He is a contributor on CNBC, Bloomberg, Reuters, TD Ameritrade Network, and Cheddar News. His market insights have been quoted in such leading publications as The Wall Street Journal and Barron's. He is also the founder of Palumbo Wealth Management. 

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