It seems that I don’t need to teach you anything about the value of mentors … you overwhelmingly voted against me asking the Money Guy to manage my $7 million.
Although, some did question why I need a financial advisor at all; for example Trainee Investor said:
Question: why do you need a financial adviser? Preserving wealth is largely a matter of common sense – at least I think so (but I’m only a trainee so it would be a brave man who listens to me). It’s making it that’s hard.
It’s exactly because preserving wealth SEEMS easier than making money and SEEMS like common sense that I may need an ‘advisor’ …
… after all, $7 million is a lot of money and I am finding it harder to preserve than I expected [AJC: some of the reasons: bad markets; bad advice; and, bad management … and, who can I blame for the latter two except me?!].
So, isn’t that the point?
Find somebody who has made – and preserved – at least 10 times as much as me, and ask them to advise (more mentor) me, just as I have advised each of you on so many occasions?
After all, isn’t the impact on me at least 10 times what the impact is to you?