this post was submitted on 09 Jul 2025
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[–] Lv_InSaNe_vL@lemmy.world 0 points 15 hours ago (2 children)

Sure, but this is my retirement and long term savings. I'm able to admit my limitations and this is one of them.

I go to a doctor when I'm sick too. I trust professionals.

[–] aphonefriend@lemmy.dbzer0.com 4 points 15 hours ago (1 children)

The difference in skill level needed between a good doctor and a good money manager is massive. It's the difference between years of experience and a few you tube videos.

[–] Lv_InSaNe_vL@lemmy.world -2 points 15 hours ago (2 children)

Ah yes there is no such thing as experience or knowledge in financials!

I'm in IT and it's the same way! Throw on an LTT playlist and by the end of the day you'll be a sys admin!

[–] Trainguyrom@reddthat.com 2 points 15 hours ago

I can't tell if you're being sarcastic or not but I worked with someone who watched LTT religiously and seemed to get most of his training from LTT. I spent a lot of time figuring out what he did or didn't do, writing the documentation he didn't write them fixing what he built incorrectly. LTT tries their best but their background is purely in gaming computers and it really shows, especially with the repeated IT failures that really shouldn't be happening in an organization of their size

[–] mrgoosmoos@lemmy.ca 2 points 14 hours ago

you are severely overestimating the capabilities of what qualifies as a good money manager

[–] ipitco@lemmybefree.net 0 points 15 hours ago* (last edited 15 hours ago) (2 children)

Understandable, but they also have conflicting interests, which is that THEY want to make money

if you look at the average return rates of managed investing vs unmanaged, you'll see that you earn more by yourself with pretty much equal risks

I suspect many investment companies have deals or interest in making you invest in specific companies even though they're not that profitable

It's a bit like everything: food sold already prepared has a nice taste, but not always the best composition and is less worth it than doing it yourself, but if you don't pay attention enough, you can fuck up your meal. If you are careful, you'll make much more by yourself and it'll still have a nice taste. Yes, this comparison doesn't bring a lot but specialized companies aren't always the best way of going, and that's currently the case for investments and stocks

[–] deranger@sh.itjust.works 1 points 15 hours ago (1 children)

That doesn’t make any sense, they have a shared interest. They make more money when you make more money.

[–] ipitco@lemmybefree.net 1 points 15 hours ago* (last edited 15 hours ago) (1 children)

They could also make you invest in their partner companies (or even their own) and have themselves invested prior to that in the same company, then sell later, making them a bigger cut, or similar schemes. What I mean is that it's not that simple.

overall their work is not that hard and statistically doesn't pay off, at least in the past years

They're trying to stay relevant, but ETFs are now the main way of investing and are providing more interest than picking niche fields. They're doing what they can to stay relevant, but it doesn't really work. They still need to complexify a bit your investments to make it seem like they're doing something useful

[–] deranger@sh.itjust.works 2 points 14 hours ago (1 children)

Yeah, I do the ETF thing too.

I get the possibility of some kind of insider trading, but they still have to make good returns or they’re gonna lose the job.

[–] ipitco@lemmybefree.net 1 points 14 hours ago

It's all about balance ⚖️

[–] Lv_InSaNe_vL@lemmy.world 1 points 15 hours ago (1 children)

THEY want to make money

Yes, but they make money when I make money. I pay like $750 per year to keep my account open, but other than that he only takes a percentage of my monthly gains. The more money he makes me, the more money he gets from me.

And yes of course I could do enough research to match or very them in gains and I could spend enough time watching the markets to make sure I am making sound decisions. Or I could just pay someone a few hundred bucks a month to do it for me. I know what decision I chose.

[–] ipitco@lemmybefree.net 1 points 15 hours ago* (last edited 15 hours ago) (1 children)

$750 per year to keep my account open

WHAAAAAAT

The thing is it's relatively simple in the most part. Just invest in a couple mainstream ETFs and boom, no need to be fancy or taking some time after that

if you want a more safe direction then it's a bit different but for the most part, that's it

[–] Lv_InSaNe_vL@lemmy.world 2 points 15 hours ago (1 children)

I think you missed three facts that I keep trying to hammer home.

  1. I genuinely don't care enough to do research and spend time watching the markets. I'm fortunate to have more money than time these days so $750 is worth vastly less than me doing it myself.
  2. It's safer. This is a huge % of my life savings were talking about. I don't trust myself to do it.
  3. I don't care. At all. In any capacity.
[–] ipitco@lemmybefree.net 2 points 15 hours ago* (last edited 15 hours ago) (1 children)

It’s safer. This is a huge % of my life savings were talking about. I don’t trust myself to do it.

I can understand it, and respect your decision. At that point when we're talking about such amounts, it's better to offload this mental stress to a reputable company, even if it means a bit lower interest rates

The main thing to get out of this is that you're investing and frankly, it's pretty much all that matter

[–] Lv_InSaNe_vL@lemmy.world 2 points 15 hours ago (1 children)

Thank you. You are the first person to actually understand what I am trying to say.

[–] ipitco@lemmybefree.net 1 points 14 hours ago

❤️

I experienced something kind of similar I guess. When I learned about this I was excited, but even though everything seems fine, there's still this part of me that is like "what if I'm forgetting or fucking up something? I don't want to lose my money, that's a lot"