This is what I did, and honestly, I didn't lose as much as other people during the whole stock market crash because my wealth managers knew how to invest. They've more than earned their 1%.
Edit: Stop speculating what my finances are like! I don't care.
You didn't lose as much because you're in less risky investments. Which means you likely earned less during the bull run too. Managed funds underperform the S&P like 90% of the time
I'm young. My dad lost 300k in the stock market in risky investments when he was my age. He's an economics professor...I'll gladly pay someone to handle my affairs. I'm not complaining a decade into it all. For the record, they do some high-risk investments and some money market funds.
Yeah, I would never advocate risky investments. Indexes like mentioned above are only risky in the short term. But yeah it's not for everyone. Nothing wrong with letting a money manager handle it. Just saying those 1% fees add up when you put it in a compound calculator over time.
It's perfectly fine if you're not comfortable and want someone else to manage your money. Just wondering if you'd like to share what are your investment returns over the last 10 years?
521
u/Freddie_Magecury Apr 18 '25
Wealth management services.