Quote:
Originally Posted by Mjenn
Wow, in my experience the rich don't always know what to do with every dollar, but they certainly pay a lot of people a lot of money to take care of it for them (hence why Madoff was able to make mincemeat of so many). Many of the very wealthy kids I went to school with (ie. you would recognize their last names) didn't break 1000 on he SATs, but I'm pretty sure they won't be managing their own money. And last I ran into them at our reunion they were still uberrich.
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Actually, most rich people handle their own money themselves. They may well have accountants, CPA's and lawyers, but at the end of the day, they do the deciding, they move the money around, they pull the triggers.
Madoff and others are the exception and not the rule.