Firstly, there are many career economists who are wealthy/successful investors.
The first and foremost target for anyone is to have enough liquid assets to constitute her ‘rainy-day fund’.
Usually, the economics of setting up and running a family office is more viable if the size of the investible assets is at least $100 million.
The wealthy use many wealth management services and privileges that an average person does not have access to:
Investment advice generally means personal financial advice or general financial advice about investment topics. Investment advice is an aspect of financial advice.
If you find it stressful when your investments are exposed to risk that is more than the risk you are comfortable with, then you should seriously consider to change your investment composition so that the risk associated with the new investment composition is more in-line with your risk appetite.
General financial advice does not take into consideration your Personal Circumstances, such as your goals, financial situation, risk tolerance and life situation, while providing you financial advice or information about a financial product or service.