jesus christ friend, you are free to make whatever decision you want, that is what the money grants you. Work or retire, i'm sure 8 mil is more than enough to do anything. I'm sure with proper investments, even lower yielding ones, you should be more than good. I'm not really sure what the people below who say that its not enough really do with their money, it is more than enough.
Ask HN: What to do after $8M (all cash, post tax) exit?
201–210 of 531 posts
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#202IIRC there exists an association created to help lottery winners. Your situation is kind of similar. I forgot the name, but if you google "curse of lottery winners" or something like that you should find a link somewhere.
According to some random article I've just found[1] for instance, one of the first things you should do is hiring an attorney. Sounds like a sensible advice.
1. https://www.businessinsider.fr/us/what-it-is-really-like-to-...
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#203i invested close to the ETH ICO. just $10k or so, but that gave me a windfall of $3.5m (I sold in early to mid-December). im not super conservative with my money (i.e., i don't do t-bills, and other "super safe" investments). i am just dollar cost averaging into index funds, like ive always done. I anticipate that I'll get anywhere from 5% to 15% per year, compounding. i also have pre-tax income of roughly $500k. i s…
What are you doing that you have a take-home of $500K?
I work in venture and my wife is a consultant.
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#204The thing that concerns me is that "I do not think I have any real hobbies." I suggest continuing to work, but perhaps being pickier about where you work. Perhaps there's a dream job you've always wanted to do that up until now wasn't feasible because it doesn't pay enough, like fireman, park ranger, teacher, musician, etc? The key here is to have an obligation (people depend on you) and social interaction. Also, see…
"Also, see if maybe you can develop some hobbies. It can be as simple as hiking or collecting stamps. Preferably one that has a social aspect so you have human interaction."
I would avoid material intensive Hobbies where you can buy accomplishment.
Unfortunately I am not in a similar situation but if I was I would try to maybe put some effort in to being healthy and not just focusing on beeing stimulated constantly. You can afford taking it slow, give it a try.
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#205Give 10% to the poor and causes you respect, go do a world tour with your family or alone, make a bucket list and fulfill it
The world is your oyster go abuse the opportunity
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#206Earlier quoted context omitted.
> That is barely enough money to retire comfortably the rest of your life. Barely? Using the "safe withdrawal rate" of 4% after inflation if the money is invested, one could spend 320k a year and probably not run out.
I assume the OP has to be making about at least $130k salary, approximately $200k in total compensation. That gives 42 years at the current lifestyle at a lifespan of 85 years. That assumes wages track inflation. Lifespan should be higher by then too. I'd consider maintaining lifestyle as comfortable retirement.
This is if you just let it sit in an account instead of investing it. The parent comment is saying if you invest it you will be able to take 4% each year and still keep the nest egg in tact.
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#207Do not tell anyone about it.
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#208Earlier quoted context omitted.
> My advice is do nothing with it, and start reading books about finance, investing, and money management. I see where you are coming from, but if you step back for a second, this just sounds bizarre. OP now has more money than they need or ever have had, and instead of relaxing and finally caring about something other than money, you suggest they actually start caring more about money.
Yeah, try to ignore the fact that it's money; imagine it's some other asset the person wants to keep, like 100 ponies. You would definitely suggest reading up on how to successfully keep ponies, right?
They are not closely similar. Ponies will die if you dont know how to handle them, money while being gobbled away by inflation will more or less hold its value.
It's a smart thing to do learn money-management at any point of your life, even more with a sudden windfall like this. The OP seems like a straightforward guy who isnt really interested in money hence this post.
So it's up to him what kind of impact he'd like to have to the world around him. If you really get down to it there's no wrong or right way to proceed. To maintain that wealth he should definitely learn how to manage it. To spend that money on things he deems important he probably doesnt need to learn much money-management.
Wisest thing in my mind, and what others have suggested, is to wait and ponder what he really wants to do in life. Maybe read some money-management books, sure. To see if it's any interest to him.
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#209Noone mentions a vital fact: you want a fiduciary advisor, everyone else will fleece you. They are mandated to have your best interest in mind unlike financial advisors and such.
Re: Ask HN: What to do after $8M (all cash, post tax) exit?
#210Apparently you think you are average at everything, but it looks like at least once you were good at picking a successful tech company. If this sounds right to you, why not do it again?
I would set the money aside (invest it like others said in this thread) and join another company which looks like the one that just exited, but at the time you joined it. You should be valuable to them, especially since you have experience with hyper growth now.
If it works, you hit the jackpot twice, and you have learned that maybe you have a knack for this. If it doesn't, you didn't lose much, and you have $8M so does it really matter?
The only caveat is: avoid telling people at the new company how rich you are, and under no circumstance let them have you invest unreasonable amounts of money in them.