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Author: wasmick Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75340  
Subject: Re: Professional management Date: 7/14/2011 1:43 PM
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Perhaps true for you but right now I think just about anyone else would care more about it than me. Call it financial fatigue but over 30 years has been a long time to care.

I think your plan of giving the manager you recently met should work fine.

As an avowed index investor (all advisers are crooks!) I gave half my holdings - which is in an IRA that I don't expect to need for many years - to an adviser last year.

I maintained a shadow porfolio to benchmark his results and I'm very happy with this performance. As time progresses I imagine that I will stop benchmarking him so closely and perhaps will move more assets to him, we'll see. In the meantime I'm very happy to have relieved myself of some of the burden of managing the family's money.

The fact is that managing it all can be tiring; sometimes you just need a break. I felt for some time that paying someone to do this stuff would be akin to some kind of failure.....that is of course ridiculous.

You've clearly done very well for yourself and your family running this stuff to this point, you don't have anything further to prove and you definitely deserve a break from the day to day.

Good luck, rad.
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