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Reply to "Do you use a “wealth manager” or DIY?"
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[quote=Anonymous]No. A "wealth manager" is a salesperson looking to take a percentage of your assets. Most have limited background in investing and simply put your money into predetermined portfolios and skim their fees off the top. No wealth manager can consistently beat the average stock market return. They also cannot protect you from market drops despite what they will tell you. The only thing that can protect you from market drops is more fixed income. We invest in low-cost, index mutual funds and ETFs. We do, however, have an "hourly" advisor that we speak with once per year who answers specifics questions and provides advise about things like taxes.[/quote]
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