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A comment on The Rich Are Already Using Robo-Advisers, and That Scares Banks. Parent comment

Re:The Rich Are Already Using Robo-Advisers, and That Scares... by Retric on Sunday February 07, 2016 @11:22AM (#11053353)
Access to that tier is why a lot of (ex: sports, inherited wealth, lottery, etc) people who earn a millions, but are not savvy investors end up broke. The financial industry is very good at separating people from their money and unless that's your background it's best to stay the @$%^ away.
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Re:The Rich Are Already Using Robo-Advisers, and That Scares... by peteretep on Monday February 08, 2016 @12:13AM (#11056455) 

    > people who earn a millions, but are not savvy
    > investors end up broke
One suspects that's more to do with outgoings than with returns
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Re:The Rich Are Already Using Robo-Advisers, and That Scares... by Retric on Monday February 08, 2016 @12:04PM (#11059288)
You can't live on negative returns.

Restaurants are a classic example of money pit 'investments', but so are a lot of real estate deals etc.

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