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Ask HN: you're rich, now what?

news.ycombinator.com

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Re: Ask HN: you're rich, now what?

#61

Post by sivers »

I sold my startup a few months ago for enough cash that I never have to work or worry about money again. http://news.ycombinator.com/item?id=341565

I went to the most peaceful spot I could find, and relaxed. I did nothing. http://www.vimeo.com/1292105

After only a couple days, it was never more clear that I was never doing anything for the money anyway, and the reason I'm always working, driving, pushing, learning, growing, and building companies is NOT about the future-goal but increasing the quality of my present moment. It's exciting! It's fun!

So, I started working again. Not because I have to, but beacuse I want to. It makes my brain spark in a way that not-working doesn't.

So here I am again, programming, excited about some new thing I'm working on, exactly the same as before I sold the company. I didn't buy anything because there's nothing I want. My debts were already paid off.

Philip Greenspun's article really does describe it best. http://philip.greenspun.com/materialism/early-retirement/

So does Felix Dennis' book How to Get Rich. http://www.amazon.com/dp/1591842050

Feel free to contact me directly if you have any specific questions you don't feel comfortable posting on the board here. http://sivers.org

- Derek

Re: Ask HN: you're rich, now what?

#62

Post by ph0rque »

logjam wrote: post #27
rcoder wrote: post #14

Improve the world: start a charitable foundation; support amazing candidates for public office; invest in social services for developing nations. Improve yourself: go back to school and get a degree in history, or music, or art; travel to another continent and live somewhere new long enough to learn the language; write a book, and read a lot of other peoples'. Improve others: get your teaching certificate (usually <1…

Admirable goals...none of which require we be rich...and many with which riches will interfere.

Also, some of these goals might be better met through a (for-profit) startup.

Re: Ask HN: you're rich, now what?

#64

Post by ph0rque »

pstinnett wrote: post #24

Depending on HOW wealthy I am: - Clean up all friends/family student loans and credit - Build a new house, buy anything I want - Start a college fund for my nephew - Do it again

In your place, I'd make college funds for nephews (or anyone for that matter) obsolete, by making education really inexpensive if not free.

Re: Ask HN: you're rich, now what?

#65

Post by donw »

potatolicious wrote: post #53
kirubakaran wrote: post #36

Earlier quoted context omitted.

May I ask why? I suppose the answer is "why not?", isn't it? :-)

Because most zoos I have been to belong to one of these two categories: - Unbelievably boring places with not enough fun and way too much education. You bring your kids to the zoo so they can learn something, not so some boring guide and put them to sleep with stuff that would probably put a zoology professor off. - Shamelessly profit minded. SeaWorld, I'm looking at you. Blatant animal abuse for the "entertainment"…

Do a theme park based entirely on feeding geese, and then sell their livers off for a (pardon the pun) fat profit.

Re: Ask HN: you're rich, now what?

#66

Post by iigs »

1) Kick myself for not selling six months ago when valuations would have been stupidly higher (relatively speaking). :) I think this is the grown up version of "I'd wish for a million wishes!"

2) If the money is larger than just being comfortably set, I'd split it into two pieces -- one being a charitable giving platform modelled after the Bill and Melinda Gates foundation ( http://www.gatesfoundation.org/grantseeker/Pages/foundation-... ).

3) The other half into a fund for playing / investing / geeking. I think once you get to the point that you have enough money that you don't need to go into work any more the next horizon is to make other people successful like you (looking at YC, here)

On the other hand, if it was enough less that this wasn't really doable, I'd at least structure the money in such a way that I couldn't blow it immediately. I understand that it's too common for lottery winners to become depressed and possibly even suicidal after mismanaging their money. It would be important to cover this before I started spending money on things that I would think I wanted (Porsche 911 turbo comes to mind immediately).

Re: Ask HN: you're rich, now what?

#67

Post by thomasmallen »

kirubakaran wrote: post #36
thomasmallen wrote: post #7

Maybe I'd found a zoo.

May I ask why? I suppose the answer is "why not?", isn't it? :-)

Because I care a great deal about conservation but am unwilling to put in the many years of education required to become a zoologist. I think that I could run a zoo effectively and compassionately, showing the public these majestic, exotic animals that are at such great risk while doing my best to return their species to viability. Isn't that what zoos are all about?

Re: Ask HN: you're rich, now what?

#68

Post by kirubakaran »

thomasmallen wrote: post #67
kirubakaran wrote: post #36

Earlier quoted context omitted.

May I ask why? I suppose the answer is "why not?", isn't it? :-)

Because I care a great deal about conservation but am unwilling to put in the many years of education required to become a zoologist. I think that I could run a zoo effectively and compassionately, showing the public these majestic, exotic animals that are at such great risk while doing my best to return their species to viability. Isn't that what zoos are all about?

Cool! My best wishes to you.

Re: Ask HN: you're rich, now what?

#69

Post by wschroter »

It's true about those who are endlessly fueled by creating something - that doesn't change. You might not do it for money, but I'm not sure that really matters.

I sold my first company in 1997 and am launching my 10th in January. It never gets old.

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