[manaboutown]

Originally Posted by LeRoySmith

I've been talking to a guy in Ocala (the brick city group) about managing my money and I cant seem to make the leap. Its not that I don't trust him, but no one cares about your money as much as you do. The other part that's hard to swallow is the ~1% fee. That covers all my living expenses for a year and he is looking for a target that's lower than what I typically make on my own (he does make a very good case about lower volatility).

I've always stumbled my way to pretty decent results but as I age and my mind gives up on me it feels like I need help.

I have the same concern. Who can I hire to step in and manage my investments when I start to lose it?

Right now I have lined up a trust company named in my revocable living trust and testamentary documents which works with accountants and financial advisors selected by their clients. The problem is finding a capable asset manager or team. I have heard some horror stories about what happened when investors who had done relatively or very well turned the management of their financial assets over to "professionals". In some cases many millions went down the drain. I find that scary. It has taken me a lifetime to accumulate what I have through hard work and sacrifices. I would like its value increased or at least retained for my heirs and devisees.

[Caymus]

Originally Posted by manaboutown

I have the same concern. Who can I hire to step in and manage my investments when I start to lose it?

Right now I have lined up a trust company named in my revocable living trust and testamentary documents which works with accountants and financial advisors selected by their clients. The problem is finding a capable asset manager or team. I have heard some horror stories about what happened when investors who had done relatively or very well turned the management of their financial assets over to "professionals". In some cases many millions went down the drain. I find that scary. It has taken me a lifetime to accumulate what I have through hard work and sacrifices. I would like its value increased or at least retained for my heirs and devisees.

The ability to make the best financial decisions peaks at age 53-54. Almost all of us are on "borrowed" time.

At what age do we make our best financial decisions? - Blog

[GoldenBoy]

Are you really asking for financial advice from Talk of the Villages participants? P.T. Barnum just rolled over in his grave. This is the place where people ask "How do I buy a House in the Villages?". Good luck!

[manaboutown]

Originally Posted by Caymus

The ability to make the best financial decisions peaks at age 53-54. Almost all of us are on "borrowed" time.

At what age do we make our best financial decisions? - Blog

I made my last significant real estate purchase at age 54 and a couple others afterward. I sold two large properties at 81 and 82. No longer feeling as sharp and quick as I used to I take more time to make decisions. My judgment based on years of experience now plays a huge role, not so much in my younger years when I depended more on mathematical analysis of deals rather than their "feel". Having majored in both physics and mathematics in college I think my math skills peaked in my twenties, though.

[CoachKandSportsguy]

Originally Posted by manaboutown

I have the same concern. Who can I hire to step in and manage my investments when I start to lose it?

Right now I have lined up a trust company named in my revocable living trust and testamentary documents which works with accountants and financial advisors selected by their clients. The problem is finding a capable asset manager or team. I have heard some horror stories about what happened when investors who had done relatively or very well turned the management of their financial assets over to "professionals". In some cases many millions went down the drain. I find that scary. It has taken me a lifetime to accumulate what I have through hard work and sacrifices. I would like its value increased or at least retained for my heirs and devisees.

A better answer is to start distributing it right now, why wait, if you are concerned that your wealth might be pilfered.

So what if you have to pay taxes. . you can't take it with you, and just give a portion of it to them each year, not alot, not all at once, just a portion, so that there is less to pilfer, if you are really that concerned. . .

[Robbb]

Originally Posted by manaboutown

I have the same concern. Who can I hire to step in and manage my investments when I start to lose it?

Right now I have lined up a trust company named in my revocable living trust and testamentary documents which works with accountants and financial advisors selected by their clients. The problem is finding a capable asset manager or team. I have heard some horror stories about what happened when investors who had done relatively or very well turned the management of their financial assets over to "professionals". In some cases many millions went down the drain. I find that scary. It has taken me a lifetime to accumulate what I have through hard work and sacrifices. I would like its value increased or at least retained for my heirs and devisees.

Vanguard 0.3%

[manaboutown]

Originally Posted by CoachKandSportsguy

A better answer is to start distributing it right now, why wait, if you are concerned that your wealth might be pilfered.

So what if you have to pay taxes. . you can't take it with you, and just give a portion of it to them each year, not alot, not all at once, just a portion, so that there is less to pilfer, if you are really that concerned. . .

I have been doing that for almost 12 years on a case by case basis for my children as well as my grandchildren for whom I have funded 529 plans. For differing reasons neither child is interested in or capable of managing a portfolio of securities or commercial real estate investments. My concern isn't so much pilferage as poor financial management, loss of principal.

[CoachKandSportsguy]

Originally Posted by manaboutown

My concern isn't so much pilferage as poor financial management, loss of principal.

semantics, similar results. . .

[brianherlihy]

i put mine in a coffee can