91–100 of 531 posts
Kidding aside! Ask your kids what their aspirations are, and spend a part(may be around 30-40%) of that money accordingly. Use around 30% of the money for your investments. Keep 20% of the money in safe (try not to use it). Spend 10% of the money on charity.
It may feel like infinite money, but can be burned through at terrifying speed. This happens to a lot of people who suddenly get money. My advice is do nothing with it, and start reading books about finance, investing, and money management. Then start gradually investing it as you learn the ropes. Hire a good CPA to help you with taxes. Buy liability insurance, because you're now a target for jackpot lawsuits. Don't…
"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) for one year. As it may take as long as five years for the windfall recipient to adjust to a new life, this pause provides a chance for emotions to cool, helps avoid impulsive behavior, and, if warranted, allows the recipient time to put together a team of professional advisers."
Life is too short not to enjoy the few successes you will get. Put away a million or two and then enjoy.
Live a little, people die a lot.
Everyone here wants to make it sound as if 'it is not enough'. Screw that. 8M puts you in an elite group, even here on HN. So most of these people here are giving you advice with zero experience of your situation. As long as you have a safety net or even a fallback to your normal/previous life, enjoy it the best way you can.
After all, despite what we may all claim, a good part of why we do what we do is for the money.
Congrats!