#38: Managing Your Wealth with Dimitry Farberov
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.
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.
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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.