[Boomer]

manaboutown,

I am not as well off or as sophisticated an investor as you are, and I am not yet in my 80s, but I understand how you are feeling.

With the help of an accountant and with estate planning in place, it is not like I feel like I need some kind of financial plan which is what retail advisors are supposed to do in addition to the investing part. They put the investing part on autopilot probably anyway, and for those of us who have planned the other stuff, those AUMs are especially annoying.

Also, the first thing they often want to do is sell all the beloved long held individual stock holdings that have been around so long that when looking at the dividend yield based on the cost basis, the yield is far more impressive that what is stated based on the current price of the stock. AND, no expenses connected.

All that being said, I do wonder how people can say never, never, never when it comes to relinquishing portfolio control. That's because while we think we might always be able to make good decisions, how do we know that for sure? I have seen people reach a point where the part of their brain that does executive decision making fails them. That is why scammers target us as we age. What if we start investing in Beanie Babies and Franklin Mint plates and those hideous staring dolls that look like the spawn of Chucky.

Also, even though our heirs might be perfectly responsible, it is not always easy to have a numbers discussion as a family. Some can do that. Some cannot. I am from the neck of the woods where people do not talk about how much money they have. ymmv

It is not a bad problem to have -- to have been successful with investing -- but for those who have been wise enough to try to think ahead, a certain age is reached when thinking ahead gets a lot harder because aging enters the picture, faster every day it seems.

I get it, but I do not know how to adjust my attitude. My plan in place for now is to leave the names of a couple of advisors that I could tolerate if I had to so that the heirs could talk to them. But I know that is a half-assed plan. (sigh)

Boomer