When the Greatest Transfer of Wealth Happens
Peter concludes by highlighting that in times of economic downturns, the greatest transfer of wealth happens, with some losing while others stand to gain.
With this in mind, Dr. Peter emphasizes the importance of educating oneself, networking, and preparing for upcoming opportunities to be able to stand among those who have gained during downturns. He advises setting oneself up financially and mentally to take advantage of future deals, highlighting the significance of due diligence and goal setting.
Additionally, he emphasizes that it’s never too late to begin, it’s possible to make money at any stage in the economic cycle, and that there is certainly optimism in the future.
“Learn how to do the proper due diligence, learn how to talk to sponsors, learn how to vet opportunities, it’s not too late, no matter what stage of the game you’re at.” — Peter Kim, MD.