Phil Palumbo on Making Work Optional and Exit Planning
Ryan Nauman hosts Zephyr’s Adjusted for Risk podcast with guest Phil Palumbo, CEO/CIO of Palumbo Wealth Management and host of the Palumbo Pulse, to discuss aging demographics and implications for retirement planning and advisors. Palumbo describes leaving UBS to go independent for fiduciary alignment, better economics, and broader investment access, and explains his firm’s focus on helping founders prepare for and execute business exits, then manage taxes, planning, investing, and wealth transfer. He contrasts “retirement” with “make work optional,” emphasizing saving discipline, compounding, and long-term exposure to risk assets (stocks, real estate, private equity) to combat inflation and longevity risk. They stress the need for written financial plans, tax-aware investing, appropriate risk during distribution, bucket-based income planning, diversification, and client education to avoid panic selling during market volatility.
Learn more about Palumbo Wealth Management here.
Connect with Ryan Nauman:
LinkedIn
X
00:00 Welcome and Sponsor
01:13 Meet Phil Palumbo
02:59 Going Independent RIA
04:54 Make Work Optional
07:50 Saving and Compounding
10:26 Spending and Longevity
12:14 Inflation and Risk Assets
15:39 Why Plans Matter
17:38 Tax Smart Investing
19:28 Exit Planning Playbook
24:14 Retirement Spending Strategy
29:14 Ignore Market Noise
32:05 Emotions and Marathon Mindset
34:13 Wrap Up and Where to Find
