Re: Hiring a money manager
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if he is good enough to do well with your money he would do it with his own.
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How do you know he isn't already doing that? If he's good at it, he has a marketable skill. Why shouldn't he earn money from providing that service?
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put your money into index funds and as much into a retirement fund as you can. that will beat whatever he does minus his 2% commission every year of your net worth.
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That's an awfully big assumption. The market average of 11% plus 2% fees is not that hard to beat.
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