The value is in the plan, not the products

Question: If someone said they would give me $1,000,000, but I had to be responsible for managing it, I would turn it down. I used to own a business that was making good money, but I sold it because I hated handling all the details. Am I crazy to hate money?

Answer: You don’t sound crazy at all.

You sound like a human being. Probably a pretty nice one, too.

By the way, it doesn’t sound like you hate money so much as the details and decisions that surround its care and feeding.

Question: How do I pick the best mutual fund amongst all those available? I read about so-called actively managed mutual funds and some people like them. Others think passively managed funds are best. I’m afraid I’m a bit confused by the whole discussion. Which is the best kind of fund to choose?

Answer: Have you ever watched an all star game?

The concept sounds great. You get the best players on each team in the league, split them into two teams made up of these all-star players and let them compete. Every major sport has an all-star game of one sort or another. It’s a great idea.

Unless you’ve ever watched one.