Some of the best wealth-building advice Tom has received: don’t pay management fees, make your own investment decisions, and don’t pay a financial advisor to put you in investments you likely would have chosen anyway.
The second piece was to invest in private equity. Someone told him, and his own research confirmed that private equity outperforms the stock market over just about any long-term time frame while avoiding volatility. Learning that billionaires and family offices focus on private equity sealed the deal.
Key points
- Avoid unnecessary management and advisory fees.
- Make your own investment decisions.
- Private equity tends to outperform stocks over long periods with less volatility.
- Billionaires and family offices focus on private equity.
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