The Rich Are Already Using Robo-Advisers, and That Scares Banks
Investment advice is one of comparatively few fields where the quality of it available at $50 million in net worth is indistinguishable from $50k [+], but the price is 1000x higher.<p>Use a roboadvisor (or a moral equivalent like a target age retirement fund from Vanguard).  If you need someone to talk to, the magic words are &quot;fee-only financial planner&quot; -- should cost on the order of $100 to $200 a year for a sympathetic ear that can tell you &quot;Yep you&#x27;re still on track and not doing anything insane.&quot;<p>Edit: forgot the jargon here -- some fee-only planners still charge a percentage.  You want someone quoting a <i>flat</i> fee or hourly rate.<p>[+] No financial planner has predictably better-than-market advice regarding investment choice than any other planner -- though heaven only knows how many intimate they do.  To the extent they provide a valuable service it is similar to an accountant&#x27;s: they can hear the totality of your situation and tell you about options&#x2F;factors you may not have considered, allowing you to sleep better.<p>A representative question: &quot;What&#x27;s a good way to save for college given we have a 5 year old?  What type of account?  What general plan?  Ballpark how much?&quot;