5 ms·

Here's a rule of thumb that has served me well: If you're not paying someone to manage your portfolio, you're paying too much. But: it has only served me well

Here's a rule of thumb that has served me well: If you're not paying someone to manage your portfolio, you're paying too much. But: it has only served me well because the person I pay is trustworthy beyond reproach, and has earned that trust from my family over decades. This is, unfortunately, not a scalable solution.

mrep 6y ago
What fees do they charge and what rate of return have you gotten? Your manager may be lucky or exceptional but most people on average will get better returns avoiding those fees and just buying index funds.