#38: Managing Your Wealth with Dimitry Farberov

by | Feb 25, 2021 | Podcast

Today’s Guest

Welcome back to another episode of the We Live to Build podcast.

The first time you have a liquidity event for your company, chances are it will be far more money than you ever imagined or worked with before.

If you’re not smart and careful, you could lose it all quickly.

In this candid talk, I speak with Dimitry Farberov, a Certified Financial Planner and Certified Financial Analyst at the Miracle Mile Advisors LLC, which is a registered investment advisor.

Disclosure

Miracle Mile Advisors LLC (“MMA”) is a registered investment advisor. Advisory services are only offered to clients or prospective clients where MMA and its representatives are properly licensed or exempt from licensure.

Forward Looking Statements – The views expressed in this commentary are subject to change based on market and other conditions. These documents may contain certain statements that may be deemed forward‐looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. Any projections, market outlooks, or estimates are based upon certain assumptions and should not be construed as indicative of actual events that will occur.

Market Commentary – The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor’s particular investment objectives, strategies, tax status or investment horizon. You should consult your attorney or tax advisor.

Past Performance – Past performance shown is not indicative of future results, which could differ substantially.

Third Party Information – All information has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such.

If there is discussion about strategies / investing you will need risk disclosure – No investment strategy or risk management technique can guarantee returns or eliminate risk in any market environment. All investments include a risk of loss that clients should be prepared to bear. The principal risks of MMA’s strategies are disclosed in the publicly available Form ADV Part 2A.

Let’s give a warm welcome to Dimitry!

We talk about:

  • What is the difference between a CFP, CFA, and CPA?
  • What is an asset vs a liability?
  • What is inflation?
  • What is wealth preservation vs wealth generation?
  • What does it mean to diversify a portfolio?
  • How do you create a balanced portfolio?
  • How do you adjust a portfolio over your lifetime to maximize returns?
  • What happens psychologically when someone suddenly makes a lot of money?
  • What are the things that happen after a liquidity event?
  • What should people do to prepare themselves for this change?
  • What are the methods of investment people should be looking at?
  • What are the pros and cons of working with a wealth manager?

And remember, Entrepreneurship is a Marathon, not a Sprint, so take care of yourself every day, so that you can live and love, and have the energy and the passion to run your business, and to invest in your team, and to find a way to appreciate those moments of happiness.

About the Community

On the podcast, Sean talks with entrepreneurs about the reality of their struggle to succeed, as well as answering questions from the community, and sharing nuggets of wisdom from his own life.

Discover through these amazing episodes the courage to open your mind, heart, and soul to the world so you can be the best entrepreneur possible, respect the people you work with, and improve the world with your company while not hurting others or yourself in the process.

Sean Weisbrot

Sean Weisbrot

Sean is an entrepreneur, investor, and advisor based in SE Asia for over 12 years. He is passionate about Psychology and helping others improve themselves.

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