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Back in the day, wealthy investors could rest assured their investments were safe and yields were high, but recent studies show the ultra-rich are now wary about low returns, finding it difficult to put their portfolios on autopilot.
Tiger 21, an asset manager that oversees more than $40B worth of personal assets, said many of its 440 members—all around the age of 54—are lowering their yearly withdrawals and working their assets harder, Bloomberg reports.
“Our members find they can’t contemplate a life of golf, where they are just investing in passive assets, unless they are willing to be incredibly disciplined on their expenses,” Tiger 21 founder Michael Sonnerfeldt says. [Bloomberg]
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