>Should I donate it?
do you seriously consider this? Sounds crazy to me. Or pretentious.
Why bother with working another job? Do your own thing, fix something in the world.
Ask HN: What to do after $8M (all cash, post tax) exit?
111–120 of 531 posts
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#112Great advice here to not to do anything rash, keep your current lifestyle with some modest splurges for your family.
I would advise you, after a waiting and thinking period, to diversify investments instead of maximizing return. Something people don’t think about is buying inexpensive income properties, small houses and condos. If the US dollar ever loses a lot of its value, then having about 30% of your assets in income producing property will make a dollar crash a little less painful to your family.
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#113To go against the current a little bit, hold off on investing in the stock market as of now. The market is likely to turn downwards within the next year or two. There are too many indicators pointing to this.
Hold off and wait for the major indexes to lose ~40%-50% in value, then invest. During the 2008 crash, the main indexes and stocks lost ~40%-60%, and treasury bonds ~8%-10%. Save your money now and invest when markets start to bottom out.
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#114There are many valuable answers here. I just wanted to say that you seem a humble guy and I'm happy that you are aware of it because that's what puts you in the right starting position. I think if you manage to keep your head there, you'll make the right decisions.
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#115I would use 1M (max) to get a new house & car, donate 10%, and put the rest in investment properties (different regions), gold, and some blue chip shares.
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#116I would use 1M (max) to get a new house & car, donate 10%, and put the rest in investment properties (different regions), gold, and some blue chip shares.
And congratulations & good luck with managing the wealth.
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#117Unsurprisingly lots of people have been in similar situations, so there is a Wiki article on one of the Internet's best personal finance and investing websites: "Managing a windfall" https://www.bogleheads.org/wiki/Managing_a_windfall "Do nothing rash. Set aside one year's living expenses[note 2] and place the rest of the windfall into low risk investments (FDIC insured accounts, money market funds, treasury bills) f…
You should also be able to find plenty of discussion threads in the Bogleheads forum started by other people who have found themselves in this position over the years.
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#118I almost never post but here I am for you mate! I had a smaller version of your life but at 30 and have spent the last 12 years living happily with my family; wife and two children. We travel, still work from time to time when we feel like it on projects that interest us, but our family and selves come first. I exercise, took up squash, we went on a 7 month trip around the world last year etc etc. Our kids or not spoiled, other than the travel, which they would prefer to not do in order to stay in school :)
Do not squander, DO NOT work because everyone says you should. FOllow your bliss, read, learn, explore.
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#119One thing for certain, it can go quick. If you do anything entrepreneurial, start with a small allocation of your total net worth, and keep your overhead low as possible. It is really amazing how easy it is to get trapped in sticky things like rental leases and salaries. I'd also remind, don't forget about basic safe fixed-income investments like USA Government Bonds. Sticking most of it in bonds at 2-3% is probably not the worst move you could make, over these next few years.
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#120Congrats! Perhaps start here: https://www.reddit.com/r/personalfinance/wiki/windfall
I see reddit mentioned by multiple people. I think the sub https://www.reddit.com/r/financialindependence/ might also be a nice fit, as it is about how to become financial independent (already achieved by OP) and then what to do after (retire early? how to manage the money? etc)
warning: high value individuals can expect a fair amount of abuse on that subreddit, it's for how to get to FI not how to manage being there