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submitted 1 month ago by nifty@lemmy.world to c/196

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[-] Cethin@lemmy.zip 9 points 1 month ago

If you win a large amount of money, you don't need to learn how to invest it. You now have the money to pay someone to do that for you. You just need to not be stupid enough to skip this.

[-] bluewing@lemm.ee 4 points 1 month ago

But you do need to be smart enough to hire good trustworthy finical advisers. And the more people you need to hire for a task the greater the chance of hiring poorly.

[-] Passerby6497@lemmy.world 2 points 1 month ago

People investing any amount of money with someone need to make sure they're using a fiduciary advisor, because they are supposed to act on your best interests with your money. Non-fiduciary advisors can funnel your money into vehicles that enrich them at your expense.