<prompt> Human: So over the past few years Ive finally reached the turning point where I feel that Ive got a lot of money. Im manager level, mid-point in my career, and Ive been handling all my personal fiances for the family and I feel I have a good understanding of most financial topics. I personally manage all our taxes, retirement funds, etc. Ive got a big fat 401k, own our own home 60 equity, some kids college savings, money in the bank, etc.I generally feel pretty comfortable with all my fiance knowledge, but there are times when I have a nagging doubt that Im missing some tricks and Im throwing away more money than Im saving doing this all on my own.So the question is: In your opinion, what is the threshold where youre just being stupid for managing your own money? A money manager seems very expensive at something like 1 annually of your invested money. Im interested in advice and guidance... is there a cheaper place to get this? Are there financial expert coaches? One of the big topics Im interested in is tax advice. Again, Im not a newbie, but small errors or a lack of knowledge can lead to me throwing away 10s of thousands of dollars and Im trying to avoid that.  <response>: I think until you are talking liquid assets greater than 10M you really arent going to have any new options that werent already available, so therefore it isnt worth the fees. If you can walk in with 10M to invest, you can start playing in some different games that the rest of us cant. Hedge funds, VC funds, other private investment options. Now these guys are going to take a bigger chunk than just 1 but in theory it is supposed to be able to get you either greater returns, or greater returns considering your mathematical risk, or possibly returns that are non market correlated, etc. Traditional hedge fund fee structure is 2 of total assets and 20 of any profits. Granted very few funds are still able to get away with that anymore. VC funds are likely going to just charge a flat for their management services, but then again there are a million flavors of VC these days too. So if you are just kicking around with a couple hundred thousand,or even a few million, and your intent is to use it mainly for retirement financial independence, there is no reason to stray from the strategy of low cost index funds with a broadly diversified portfolio. Just be sure that you are getting into the lowest cost options, when you get around 30 to 50k in a single fund you can often choose the cheapest option, for example Vanguards Admiral funds. 