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This comment astounds me. I'm an engineer as well, and while I get the logic that you're presenting here, I can't help but squirm at the thought of someone els
by _prototype_ 9y ago
This comment astounds me. I'm an engineer as well, and while I get the logic that you're presenting here, I can't help but squirm at the thought of someone else managing my money.
In fact, it's something I just do not understand at all. The idea of giving my money to a complete stranger and entrusting them with years of my hard work is nuts to me. If people just read a bit about finance and managed their own money (in ETFs, your pick of Mutual Funds, REITs, Bonds etc) it would avoid so many headaches for people.
- eldavido 9y agoMy wife and I call this the "faith in experts" argument. We named it because we often find ourselves on opposite sides of it. She believes in experts, I'm more skeptical. The main thing I've realized is that returns to pure capital just aren't that high. For a typically-sized retirement account (few hundred K), you're much better off going hard on your career if you're in a field where that's rewarded (law, finance, tech, med, etc.) The one saving grace of your idea is that you'll have made all the mistakes by the time you have real money to manage, so you won't make silly dumb beginner mistakes like buying high and selling low. That's my post hoc justification, anyway ;)