In this episode of the Impact Theory podcast, Codie Sanchez dives into the significant transfer of wealth happening as Baby Boomers retire. She points out that a large portion of this wealth is tied up in small businesses, many of which are simply closed down instead of being sold, resulting in potential economic losses. Sanchez encourages listeners to develop deal-making skills to acquire these businesses, stressing that ownership is key to building wealth. She compares the risks and rewards of starting a new business versus buying an existing one, highlighting the importance of self-awareness and risk tolerance in navigating this generational shift. The discussion also raises concerns about the growing power of major asset management firms like BlackRock and Blackstone.
