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There's a difference in magnitude and importance between doing your own landscaping and managing your own $5 million dollars of net worth.
by cynicalkane 16y ago
There's a difference in magnitude and importance between doing your own landscaping and managing your own $5 million dollars of net worth.
- chollida1 16y agoAgreed, all the more reason that this statement: > > Generally, someone smart enough to build a $5 million company should be smart enough to manage his own money. is false.
- cynicalkane 16y agoYour post contains no information and bears no insight. Why are you posting it? Simply for the joy of contradiction? There's nothing an half-rational person can't do that your garden variety financial advisor can. If you can build a business, then basic ETFs, mutual funds, and bonds are easy to understand, and if you want to move into individual investments or private funds... you should not be relying on a financial advisor for this. If you think otherwise, I have some stocks I'd like to recommend. And a shady commercial real estate deal that will net me a fat commission. And a bridge in Brooklyn. Legend has it there exist good financial advisors--but you have to find them. "Delegating" this because you "don't want to do" this is entirely the wrong attitude. If you don't take responsibility for your money, it will go away. It's 5 million freaking dollars, probably the entire net worth of this person, and the fruit of his business which he built.
- ZachPruckowski 16y agoCorrect. If you screw up your landscaping, you wait a year for the shrubbery to grow back or whatever. If you screw up investing your money, it don't grow back.