> You would expect he has lots of free time and mental space at hand to do whatever he wants, instead it turns out he has to now worry about managing that money

> You would expect he has lots of free time and mental space at hand to do whatever he wants, instead it turns out he has to now worry about managing that money. > And its not exactly a easy job. Managing big money can be hard as any loss even a small percentage is a lot of money. And that begins to weigh heavily on you in form of stress as there is a lots at stake. A three-fund portfolio pretty much scales from $100 to $100M, probably more. Once you have enough money do whatever you want, you can do stocks:bonds anywhere between 20:80 and 80:20 and you'll be alright, and if not, there probably wasn't a reasonable choice you could have made with the information available. If he's got enough to be set for life, and he's worried about market fluctuations, that's a choice.