Investing with Intention: Building Generational Wealth with Steve Selengut
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In this enlightening episode of the Passive Wealth Show, host Jim Manning sits down with veteran investment manager Stephen Selengut. With over four decades in the financial industry, Stephen shares his unique approach to creating high-income portfolios, emphasizing the importance of income-generating investments for long-term wealth. He discusses his personal journey, influenced by his father’s early lessons on saving and investing, and explains his strategies that have managed to grow over $110 million in client portfolios. Dive into Stephen’s insights on the lesser-known yet potent vehicle of closed-end funds, and learn how prioritizing income can profoundly impact your financial security and legacy. Whether you’re a seasoned investor or just starting, this episode is packed with valuable lessons on making your money work for you.
Importance of Income-Generating Investments: Stephen highlights the crucial role of income-focused securities in building sustainable wealth. He discusses how investments like closed-end funds can provide consistent returns, illustrating his personal strategy of always ensuring that his portfolio includes a significant percentage of income-producing assets.
Early Financial Education and Discipline: The episode underscores the value of early financial discipline instilled by Stephen’s father, who taught him to save and invest a portion of his income from a young age. This foundational lesson helped Stephen to appreciate the power of compound interest and the importance of putting money away for the future.
Diversification through Closed-End Funds: Stephen shares his expertise on the benefits of using closed-end funds, a type of investment fund that is not as widely known or utilized but offers significant potential for income generation. He explains how these funds operate, why they are an effective tool for income generation, and how they can fit into a broader investment strategy that prioritizes both growth and income.
Steve Selengut