re: Feeling broke on a $665K salary

1.24% for managing someone's money isn't that high. Hell, when we were running a PE fund we had a 3% carry plus 2% annual expenses. That is 5% and people were handing us money as quick as we could open another fund. Why? Because they couldn't beat our returns without quitting their jobs or selling their companies.

Most people don't have the skill set to truly manage their own portfolios.