[quote=bearishgurl]2 and 4 don’t make sense together. If one is “financially afraid” and wants to learn about how to invest their money, they would do well to use “qualified and vetted” professionals to help them invest properly. It’s not a sin to not know but it’s probably a sin to do nothing and thus make nothing due to fear (assuming growing your nest egg is important to you).
[/quote]
Lol… You mean like Madoff?
Come on BG… You know very well, the best way for an average person to screw oneself is to hand over one’s finances to a “money manager” and be hands off…Because if you ever bothered to go to one of those money manager’s sell jobs (free dinner, free activity, blah blah blah), you would realize a “qualified” and “vetted” professional money managers really don’t exist if you yourself are clueless.
The only time “advisors” might work is if you pay them for advice, but ultimately the trigger finger is still you, you’re moves and your decisions, which still requires you to understand, research, weigh risk/reward, and make a decision. And unfortunately, if you’re always risk adverse and never pull the trigger, there’s no point in paying for advice that you won’t use…. If you don’t understand how to invest, turning the keys completely over to a money manager isn’t gonna help you get there any faster. In a lot of ways, it can be a lot worse.
The only time money managers might be helpful is someone completely financially irresponsible..But chances are, those folks have nothing worth managing 🙂
