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Millionaires Unveiled

218: Guest Interview - Small Business is the Path to Wealth

Millionaires Unveiled

Jace Mattinson

Investing, Millionaire, Financialplanning, Business, Self-improvement, Education, Finance

4.8872 Ratings

🗓️ 27 December 2021

⏱️ 43 minutes

🧾️ Download transcript

Summary

Salvatore Buscemi is today's guest where we discuss his background (started with Goldman Sachs), small business vs. the stock market investing, how wealthy family offices invest, and doing due diligence before investing to ensure that priorities and objectives are aligned. Sal also shares his thoughts on commercial vs. residential real estate and the cautious approach one should take prior to investing in a regulated market.

Transcript

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0:00.0

Yeah, before parting with your money, always asks how your interests are aligned.

0:05.0

The wealthy always want to make sure that their interests are aligned, not just with fees, but also if anything goes wrong who gets hurt.

0:13.3

What I would urge you to do is that if you're looking at anything

0:16.4

in real estate specifically investing in something

0:19.5

with someone else, ask yourself,

0:21.8

how are my interests aligned and what happens if things go wrong?

0:26.0

And the best way to ask that is to ask the hard questions is, who's really in charge of this

0:30.0

and are they qualified to really manage this project.

0:32.6

And then that'll really, I think,

0:34.4

peel the layers back where you won't feel bad saying no

0:37.6

to maybe friends and family who are trying to experiment.

0:41.3

You're listening to the Millionaires Unvealed Podcast, where you'll hear the stories and interviews of everyday millionaires.

0:49.0

We'll unveil their decisions, their strategies, and their current portfolio at their Welcome back to another episode of the Millionaires and Velve Podcast.

1:05.7

This is episode number 218.

1:07.2

Clark, how's it going on your world?

1:08.9

It's going, it's going pretty well, a couple days after Christmas here.

1:12.6

So Merry Christmas everybody or Merry Late Christmas

1:15.4

two days ago and happy New Year coming up.

1:17.8

Yeah, we just about Boxing Day yesterday in Canada.

1:20.5

What is it? Say it again?

1:21.7

Boxing Day, right? The 26th 26 you don't celebrate that holiday Clark? What kind of what kind of what kind of friend of Canada are you? I don't think I knew about that. I don't think I knew about that. Yeah, man, that's a big deal.

1:34.2

I mean, I guess maybe for us that grew up in the northwest,

...

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