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Money and Finances
Reply to "How much money before you stop managing and hand off to a wealth management firm?"
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[quote=Anonymous][quote=Anonymous]We had someone managing our money before we even hit $1 million. At about $2.5M I decided to do it on my own, then realized I wasn't actively managing anything--more just watching. My husband is completely uninterested in money, so I couldn't count on him. A couple of years later I signed on with a wealth management firm that also manages my mother's money. While I hate the .08% fee, I love the personalized attention when it comes to taxes and retirement planning. And we're up quite a bit.[/quote] yep. And the firm has access to some funds that the general public does not. DH got one long before he hit $1mil. I decided I was going to manage it on my own. His investments grew faster than mine. I just didn't have the time or energy to spend time on it. People who do that for a living do have the time. We now have about $3.7mil with the firm. They've done well for us. Even my kids are using them, LOL.[/quote]
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