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