Ask HN: What to do after $8M (all cash, post tax) exit?

#1

Post by throwaway8m » Tue, Dec 04, 2018, 3:27 PM UTC

Going anonymous for this. I am just an average project manager who happened to be at the right tech company at the right time. They had a big exit and suddenly my stocks are worth $8M (the money came in my account last week).

I am just an average guy. I am 43 and middle level tech manager.I know coding (but nothing superb). I know business (but nothing much). I am not particularly very hardworking or particularly super intelligent. Not dumb or lazy - just average.

The point is I can probably find another similar job but probably nothing much higher.

I have two kids and a nice wife. I have a nice, small house and two small cars. Everything paid for. I have no debts or “vices”. I do not like smoking, drinking or going out. I do not think I have any real hobbies.

Just a simple guy with simple life and then this happens. What should I do? Should I donate it? Should I hire a personal wealth manager? Should I retire?

I am freaking out. Please provide some guidance.

Re: Ask HN: What to do after $8M (all cash, post tax) exit?

#2

Post by mariust » Wed, Dec 05, 2018, 10:09 AM UTC

travel

Re: Ask HN: What to do after $8M (all cash, post tax) exit?

#3

Post by vader1 » Wed, Dec 05, 2018, 10:12 AM UTC

Congrats! Perhaps start here: https://www.reddit.com/r/personalfinance/wiki/windfall

Re: Ask HN: What to do after $8M (all cash, post tax) exit?

#4

Post by fersab » Wed, Dec 05, 2018, 10:13 AM UTC

Not that you will do it but,

Since you mostly feel "lucky", find the devs or other people who worked their asses off to make this happen and who did not get anything.... and share!

Re: Ask HN: What to do after $8M (all cash, post tax) exit?

#5

Post by Numberwang » Wed, Dec 05, 2018, 10:14 AM UTC

Live of interest, spend time with family. You only have one life.

Re: Ask HN: What to do after $8M (all cash, post tax) exit?

#6

Post by drcongo » Wed, Dec 05, 2018, 10:14 AM UTC

Spend time with your kids. You'll never get another chance.

Re: Ask HN: What to do after $8M (all cash, post tax) exit?

#7

Post by jtl » Wed, Dec 05, 2018, 10:15 AM UTC

There's nothing to freak out about, you hit the jackpot. First of all I would say head to bogleheads and educate yourself a bit on investing and personal finance.

This is not financial advice, but if it was me I'd personally just live off the interest and spend the rest of my days doing what I enjoy.

Re: Ask HN: What to do after $8M (all cash, post tax) exit?

#8

Post by kvakvs » Wed, Dec 05, 2018, 10:16 AM UTC

Use the $$ as a sustain buffer to allow you live your comfortable life till the end of your days.

1. Do not sit there with your hands idle.

2. Start a business. Go talk with your friends, and friends of friends. Go talk to business owners who are friends of your friends and their friends. Find a business which needs something improved. Investigate how many more businesses have this problem. Figure out whether they will buy your future solution (do sales), and figure out how to help most of them in the least time.

There now you have a product idea going. Using your $$ to pay for your living, get to work.

Re: Ask HN: What to do after $8M (all cash, post tax) exit?

#9

Post by CaRDiaK » Wed, Dec 05, 2018, 10:16 AM UTC

You have a once in a lifetime opportunity to be there for everyone you care for no matter what. Seize it with both hands. Don't tell people, just be your best self.

Re: Ask HN: What to do after $8M (all cash, post tax) exit?

#10

Post by Waterluvian » Wed, Dec 05, 2018, 10:19 AM UTC

drcongo wrote: post #6

Spend time with your kids. You'll never get another chance.

This. At 43 you're about half way done if you aren't unlucky. Spend time with the family. They're all that will matter to you later in life.