4 ms·

FIVE PERCENT FEES? After inflation that basically brings your ROI from holding risky equities down to savings account rates. She gets paid better than the worl

FIVE PERCENT FEES? After inflation that basically brings your ROI from holding risky equities down to savings account rates. She gets paid better than the world’s most successful hedge funds to be a glorified baby sitter to grownups? I picked the wrong career.

simonbarker87 8y ago
I imagine that’s the fee her firm takes, assuming she has some employees, a snazzy office etc there will be overheads out of that - but yeah, accountants do well.
- elgenie 8y ago
  The main services she mentions aren't accounting. They're more financial advisor/personal assistant/psychologist/business manager/property manager.
rahimnathwani 8y ago
Probably 5% of income, not assets. But even if it's of assets, she's not just managing money. A hedge fund manager isn't going to help choose your drapes, at least not within the management fee.
2muchcoffeeman 8y ago
Seems reasonable considering the amount of babysitting they do. Managing assets and making sure certain bills get paid on time seems reasonable. But having to talk them out of impulse buys they may not be able to afford sounds terrible. It’s like these stars are not fully functioning human beings.
- JumpCrisscross 8y ago
  > It’s like these stars are not fully functioning human beings Or that the personalities that (a) go into low-probability high-payoff careers like entertainment and (b) do well in entertainment (through further selection or the perso al transformations necessary to succeed in Hollywood or the NFL) are also bad at saying no to competitive luxuries and short-term impulses.
  - jpindar 8y ago
    And many of them work with people who make even more money than they do, which can distort their idea of what lifestyle they can afford.
    - cpitman 8y ago
      I see this very much. Friends that are surrounded by dual income couples that are lawyers/doctors/etc get convinced that 300k+ household incomes are "not that much". This while being 97+% percentile for household incomes in the US.
ainiriand 8y ago
Well, you dont usually have the hedge fund manager at one phone call away.
empath75 8y ago
These people get most of their income from working, not investing. It’s worth a lot of money for them not to be distracted by day to day business stuff.
fineng123 8y ago
That is a really hard job. Understanding people is a system just like programming except there are few hard rules

simonbarker87 8y ago

I imagine that’s the fee her firm takes, assuming she has some employees, a snazzy office etc there will be overheads out of that - but yeah, accountants do well.

elgenie 8y ago
The main services she mentions aren't accounting. They're more financial advisor/personal assistant/psychologist/business manager/property manager.

rahimnathwani 8y ago

Probably 5% of income, not assets. But even if it's of assets, she's not just managing money. A hedge fund manager isn't going to help choose your drapes, at least not within the management fee.

2muchcoffeeman 8y ago

Seems reasonable considering the amount of babysitting they do. Managing assets and making sure certain bills get paid on time seems reasonable. But having to talk them out of impulse buys they may not be able to afford sounds terrible. It’s like these stars are not fully functioning human beings.

JumpCrisscross 8y ago
> It’s like these stars are not fully functioning human beings Or that the personalities that (a) go into low-probability high-payoff careers like entertainment and (b) do well in entertainment (through further selection or the perso al transformations necessary to succeed in Hollywood or the NFL) are also bad at saying no to competitive luxuries and short-term impulses.
- jpindar 8y ago
  And many of them work with people who make even more money than they do, which can distort their idea of what lifestyle they can afford.
  - cpitman 8y ago
    I see this very much. Friends that are surrounded by dual income couples that are lawyers/doctors/etc get convinced that 300k+ household incomes are "not that much". This while being 97+% percentile for household incomes in the US.

ainiriand 8y ago

Well, you dont usually have the hedge fund manager at one phone call away.

empath75 8y ago

These people get most of their income from working, not investing. It’s worth a lot of money for them not to be distracted by day to day business stuff.

fineng123 8y ago

That is a really hard job. Understanding people is a system just like programming except there are few hard rules