After such debacles as Storm, I'd have thought most people would be pretty vigilant about managing their assets.
Talking with a friend, I was astonished that she should tell me she and her husband pay a financial adviser who "looks after everything for us". She said:
"I have no idea how much money we have or what we spend during the year".
She had no idea whatsoever what percentage return on capital had been achieved in any of the nearly 15 years they have had their money managed by this person.
They travel frequently and apparently when they decide they want to do another cruise or whatever they just say to the adviser: "Can we afford to spend $40K on a cruise?"
He says yes, and away they go.
I find this level of blind trust incomprehensible.
What are others' views?