Key TakeawaysPrivate equity is essentially owning a private business, and it's one of the three ways people can grow their money over timeHow it can be operationally heavy, while investing in other businesses can be more passiveIt's important to consider diversifying your investments to minimize risk.Creating passive income is crucial for building long-term wealth and financial stability.Having a clear vision for your life and financial goals is essential for making smart investment decisions.Resources MentionedInterested 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. CTAsAre you looking for High-Performance Business & Mindset Coaching?  Schedule a call now and see how we can be of service to you. http://www.investormindset.com/discoverEstablish your relationship with VonFinch now for exclusive invite-only opportunities. Schedule an introductory call now at http://www.vonfinch.com/call.Download your free strategy guide, The Passive Investor Playbook at http://www.vonfinch.com/playbookAre you looking for High-Performance Business & Mindset Coaching?  Schedule a call now and see how we can be of service to you. http://www.investormindset.com/discoverInvesting to Hedge Against Inflation - Free online training at https://investormindset.com/start