Topic: To be financially well and healty you need to find fund manager - page 2. (Read 670 times)

The truth is that if someone has invested in bitcoin and was able to hold their coins for years then I do not think that person has a need for a money manager, the truth is that if you read books about the subject then you probably know as much as them, so the number of scenarios in which they are useful are limited and this is why the use of their services is not as widespread as the OP would want, still if you happen to be on one of the limited scenarios in which they are useful then I see nothing wrong with using them.

The first thing you need to do to actually take care of your assets, be these large or small, is to educate yourself in the basic concepts of money, investment, stocks, real state, commodities, interest rates and some basic economy concepts. There is no shortcut to this, either you do it or you will not understand anything that is going on out there and, even if you manage to find some success, you will not be able to hold to it in the long term.

Looking for a wealth advisor or fund manager will not help you at all if you do not understand what you should be looking for in your own personal case.

This isn't really a good financial advice. If you have a lot of money and you cant afford to manage it on your own, I don't really suggest that you just find someone from your friends or acquaintances that has knowledge in crypto to manage it. It's still better to handle your own funds or to hire a professional in the field of investing and trading that could advice you and guide you on the runaround. Trusting your funds to someone isn't really a nice thing to do. You see, there are so many relationships that has been broken because of money. If you will let them handle your finances, there's a possibility that they will be tempted to get some from it or mismanage it. Also, if ever your funds go haywire, you will put all the blame to them. With that, your relationship will be damaged to that person. Tainted relationship because of money isn't easy to fix because there's trust and of course, there's money which is a necessity involved.

It's really much better to handle your own finances and manage different streams of income yourself. By doing that, you can always check and monitor the flow of your money and you will have no other person to praise or blame if things go good or bad but yourself alone. You can have other people guide you and help you but not stake everything because of their judgment. You must know to do technical analysis and other skills needed in crypto and other investments for it to flourish either in aggressive or passive manner. Be your own fund manager. You just gotta equip yourself enough knowledge and wisdom and those can be learned and acquired over time.

Fund managers does have those skills or knowledge that an ordinary person might not have but doesnt mean that those things cant be learnt? If you do know on what you are doing
then you could really make out some research and act on your own.

Handling finances doesnt basically means that you would need some sort of fund manager or something like that because you could really do such actions
on your own with having your own discretion and analysis.

Might not be perfect or precise because what you do aim is sustainability at least.

I don't think a fund manager is really needed by someone like me and by some smart crypto analyst. Sometimes we that daily conduct research in this space may be even far ahead of these fund managers in finance. One can even get luck multi times during a bull run when we get early on a project. A fund manager could be very meticulous and miss out big.

Having a fund manager is a good idea but knowing how to properly manage your own funds would be better. It would be a smarter move if you'll have enough knowledge on how to handle your finances so you don't have to look for someone else to do it for you. We should take responsibility for handling our assets so we'll also have total control over what to do with them because, to be honest, it's hard to look for trusted people these days.

Exactly, why would someone need to hire or find some fund manager if that someone is just holding 2 or 3 assets. Usually, people hires some fund manager is that they're holding too many assets that needs someone to oversee and control it to divide the responsibilities and burden, so that there's still any free time to socialize rather than just always focusing on the assets.
Mabye what @dimonstration is trying to say is he/she knows someone that still finds some time to trade not because it needs to but because his/her friend is already used to do that, so if there's nothing to do left then trading isn't a bad idea.

I seriously ponder at times why people are getting more reliant on others than on themselves. I can understand you have a massive business and need a manager, I am not saying it's the wrong thing to do. But there are businesses in local here where people are using asset managers and different types of managers when there is hardly a need for a single manager given how confined their businesses are.

Generally speaking though, I agree one who knows how to manage funds is more successful than one who earns a lot but doesn't have a way to manage their wealth. Management isn't always about saving either, it's about investing and looking at the best possible options around you.

While you’re taking such decision like this, you should as well be very careful to make sure that you’re giving your money to the right people that wouldn’t be cheating on you by giving you the wrong statements. Sometimes, people decides to do all these things by themselves because of the risks that might be involved in hiring a fund manager or the difficulty in choosing the right one.

If you choose the wrong person, you’re more likely to start seeing losses than gains. Most of these rich people that you’re talking about are only hiring asset managers because they don’t have the time to be doing this job managing their assets by themselves. So if you have that time and you can do it perfectly, then why not do it yourself? Maybe when you get to the same level with these rich people, where you have different businesses to manage and you don’t have the time, then you can start looking for asset managers to reduce the stress of you doing all that.

You have to have a set of friends that are good at handling finances, and are focused on investments as well if you want your money and finances to flourish, or to at least go somewhere sensible and not just down the drain just because you can't control your spending. Most lottery winners don't get their winnings to last because they don't know how to manage their finances, and are just actively spending their money on things they don't really need, and are not investing or seeking the help of financial advisers or friends who know how to handle money.

You don't necessarily need to hire a financial adviser IMO, but if you have the money to hire one, then such a person would be a big help.

the thing to realize is that it is not that easy to find people who have good skills in investing willing to manage our money even giving us a little knowledge  if we are new to them

trying to learn yourself slowly it will be long and full of long struggle but it's better than you entrusting your money to people you just know like a fund manager, it's really a big risk

I somehow agree with your comment but it is, however, advisable to learn the basics of financial literacy from a fund manager as they are the ones who are experts on the said field.

Many celebrities and rich people hire fund managers as the former have the tendency of spending money in huge amounts, which may result to unpaid credit card balances, etc. Most common example are NBA players- once they receive their first check, some spend it outrageously purchasing luxury cars, etc. while it may be considered harmless, it will definitely affect them long-term.

I have not thought about that but you are indeed right, after all I had thought that if someone was rich enough to hire a money manager then they do not really need one as they were able to obtain a fortune without them, however if they are tired of managing their money and the only thing they want to do is to enjoy it then it makes sense to hire someone else to deal with those issues while they relax and enjoy the rest of their life.

I would not close this kind of possibility in my life yet, maybe for now I can manage my funds because I don't have much, but in the future, if my hard work will pay off, then maybe I may need some fund manager to manage my funds. My ultimate dream is to relax and just let my money work for me, I think the job of a fund manager would fit my desire.

Well that is at the discretion of each person according to their needs, but if in case of having many things to do and not having a life of their own, I prefer to hire someone specialized to handle me and administer everything without any problem, because you can manage oneself, the bad thing is that when the complications come, the tax return and all the duties, the ideal is to be well with everything.

If peace of mind tells me that I have to hire an administrator to get rid of problems, without thinking I would do it, on the condition that I keep updated on my finances.

Would only be just good for those who do have that money which is more than for an average joe to have on which you wouldnt really be minding on paying someone on where you do seek off some advises and recommendations on how your funds should be handled.Yes,this is mostly can be seen with those wealthy or rich individuals but for us who do only hold a few then it would really be just
common sense that you wouldnt really need this at all.

Being financially well would always depend or matter on someones decisions whether he do wisely spent up his finances or simply wasted up on some different purchases or investments been done.

On the time that you are seeing that you do have a big problem on this part then its not bad to take this option as long you could able to pay up.

Indeed. Letting someone manage your asset isn't the right way, surely it is too risky. I personally never think to find someone managing my asset or advice me about my investment strategy. I have my own way of investment and I may have a different way to manage my money. Having a fund manager probably makes it more complicated. But I agree that to manage asset/investment properly needs sufficient knowledge, we can learn it gradually. I think it doesn't need a special course, we can study it self-taught and prioritize to learn what is necessary only.. 

Actually it depends on the needs of each person because not everyone needs a manager,
if we have a wide variety of investment assets i think it definitely needs it,
I hope everyone can be aware of that because doing everything will not get maximum results

No depending on the rationale behind it, you can require the services of professional to take up your finance and guide you well on the normal thing to do for growth in your business and finance. This is how to professionally plan your self. Example some companies higher financial analyst that will help them in different aspect of the business especially if they are just starting up and maybe doing an IPO (Initial Public Offer). This is just one example and there are many other needs to higher some experts to advise and you don't need just one time pay off because you need to grow before relying on your own effort. Companies higher financial experts to run the business.

It is proven that over 90% of actively managed funds will under perform a passive index tracker fund over long periods of time and you should be careful thinking that you can pick the 1 out of 10 active managers who might beat it. Actively managed funds also add on a heap of unnecessary fees and it is in their interests as management to see as much portfolio turnover each year as reasonably possible. You could lose out 2-3 percentage points each year, which over time will eat away at your potential earnings. Everyone who wants to invest in funds should stick with passive index funds that accumulate over time and have been shown over decades to capture the average returns of the stock market which is the best you should hope to get for little time investment.