Walter, I assumed that your Roth IRA was not your only source of wealth.
I have a lot more in it that I put into it, so the investments in it are a significant source of wealth.
If you do not have an estate planning lawyer, you could make critical mistakes that would affect generations to come.
I have an accountant, and from time to time consult with lawyers. Everyone is very impressed that I have been able to get so much in a Roth.
Most wealthy people have investment gurus to control their investments.
The wealthy people I know are worried about people claiming to be investment gurus. Someone promises too much, it is a major red flag.
Because of my position, I have access to some of the great minds in finance. I try not to abuse it, but I do pick up things from time to time. It has done me well.
I am simplifying these days. A simple 90/10 split for most of my Roth funds, with 90% in broad based indexed mutual funds, and 10% in a Treasury equivalent mutual fund. My calculations show there will be a good return, with rare 50% losses, but the return making more than up for it.
I pay mine 10K a year and he has returned it many fold.
You mentioned he promised never less than 10% returns... That would be a red flag that I would run from. But it is your money.
I don’t pretend to have wealth management and wealth preservation skills like you do, Walter.
It is important, so you should know enough to be well informed. And more importantly, you should be teaching your children. If you, and your children, know nothing, others we take advantage of you.