There is no "should" here! It's your money now, do with it whatever you want :)
Guidance: don't freak out, it's gonna be fine.
Ask HN: What to do after $8M (all cash, post tax) exit?
11–20 of 531 posts
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#12Staying unemployed (if you're planning about leaving) is usually hard on most people mind. Try asking for a part time job (or look for a part time job) - that will leave you with enough time to think and find out new hobbies or what you'd like to do in the future.
Spend time with your wife and families, save in different places/accounts/things so you don't risk too much. Very often you don't have hobbies because you feel you don't have time - now you have that.
Just, imho, don't start overspending in stupid things, like luxury cars or boats or huge houses, or your expenses can go quickly out of control.
If you want a hobby, i suggest things that are 'physical' and group/community activities, maybe some sport or building things. See mr. Money mustache for inspiration.
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#13Put it all in Bitcoin.
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#14You know what? You don't need to do anything for now.
What you need to do over the next few months is answer a single question:
"What do I want to do with my life?"
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#15Hey mate its understandable you are freaking out a little. I would definitely suggest starting to do some education on basic finance and investment. Please tho dear god can you not do TWO things...just two things.
One...don't donate your money...donate some for sure, but most organizations generally fail by eating up the lions share of donations through administration costs and other costs of business. So your money gets nowhere...now if you want to make a difference this leads to point two.
Two. PLEASE dear god don't invest all of your money in stagnant safe investments, invest some small portion of your 8 million into starting a business. I don't mean this in order to grow your own wealth...but to help grow that of your community. I don't know where you live...but in Australia...the hoarding of wealth through property and the stock market is basically killing small towns/communities left right and center. Investing money in that doesn't really grow the economies of small towns/communities. Start a business, nothing huge, nothing too fancy, but invest in training you community/small towns! Seriously it will provide a bigger difference to those whom you employ than if you were to give to a charity supposedly servicing them!
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#16vegas!
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#17You can change the world :)
And you can do it anonymously at your own pace.
I'd invest in the climate, most importantly alternatives for plastic waste and meat.
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#18You now own yourself. You only have to work if you like working, and you can work at something that doesn’t pay much since you don’t need the money.
Watch out for isolation.
Try to change as little as possible because the truth is not much has changed except you owning yourself.
Don’t give it away. Don’t give it to your friends, they won’t be your friends if you do.
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#19There are good threads on reddit and other money forums that have advice on things like this, as I recall:
- Don't make any drastic changes to your life now
- Learn how to make your money work long term (diverse investments with plenty low risk etc)
Give yourself time to understand what you are going to do with it. You don't sound like the type of person that will end up like the lotto winners, but bear in mind a sudden increase in wealth can lead to pretty negative things if not managed.
Of course - it can bring a boatload of positive things too. Think of the things you could do. Retire early, help others, work on something special without worrying about salary, find a hobby :P Congratulations!
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#201. Save and plan for the future. You might need a financial planner. Happy to recommend.
2. Find an interesting problem to work on. It is hard to be free and have no goals. Now you have the ability to build your own goals. Dont rush into it, take your time.