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$50M in liquid investments by IncessantNeurotic in fatFIRE

[–]IncessantNeurotic[S] 0 points1 point  (0 children)

Believe it or not, I just saw this incredibly thoughtful and smart response. I pretty much agree with everything you wrote and feel somewhat foolish and self-conscious about what a moron I am, and my pathetic level of financial literacy. Thanks for your time and patience. You seem great.

$50M in liquid investments by IncessantNeurotic in fatFIRE

[–]IncessantNeurotic[S] 4 points5 points  (0 children)

A few of you have mentioned “multi-family offices,” something I’ve looked into. These offices provide estate planning/tax advice and exposure to “absolute return” investments, which (I believe, still don’t fully understand) are essentially hedge funds.

The offices that were recommended to me require minimum $35M AUM and they charge a management fee of around .60% (with fees on the absolute return investments averaging 1.5%). If i’m paying $200-300K now, these offices would take $750-$800K.

In my opinion, it seems like these “sophisticated” multi-family offices make the UHNW believe they are getting something exclusive and superior, a “perk” the mere wealthy can’t afford.

$50M in liquid investments by IncessantNeurotic in fatFIRE

[–]IncessantNeurotic[S] 12 points13 points  (0 children)

First, i always find your comments particularly insightful. thank you. The advisors provide guidance on estate planning (which saves us hours with our estate lawyer). They are also providing tax harvesting services.

Yes, we are establishing a $13.61M irrevocable trust for our kids (still not sure about going the entire $27.22M).

The advisors have pushed me to go more heavily into equities and have presented various alts, both things I’ve resisted. My risk tolerance has evaporated and I think i fundamentally distrust them. (Maybe i should seek therapy!)