If your ambition doesn’t grow with your wealth, the wealth makes you stupid by enabling you to delay decisions longer under uncertainty. I’ve done most of my on-time risky trigger pulling when money was tight, delayed it too long when it wasn’t
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In my experience most wealth management is outsourced unless managing your own wealth is a full time gig.
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Depends what you mean by management. Mechanics/taxes/vehicles/concierge yes, strategic allocation decisions (public vs private markets vs hedge funds, real estate, own act 2 efforts ...) not so much. Depends on how they make money I guess. SV millionaires not like say movie stars
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More to say, when you have more to lose and take new risks (again), perhaps more likely to ask experts for advice. While most truly great innovation comes from ambition + slicing up knowledge anew + confidence being wrong for a bit
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