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Ask HN: you're rich, now what?

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

#101
post #61

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, g…

What I would really like to know is how much money it takes to get to that point.

$5 million isn't enough according to a very interesting New York Times article: http://www.nytimes.com/2007/08/05/technology/05rich.html

So how much does it typically take for someone in Silicon Valley to "solve the money problem"?

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

#103
post #61

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, g…

I completely agree with you. If you're not having fun, just fold-up shop and find something that does allow you to have fun.

I am a firm believer that you can make money from anything you have a passion in. Chase that.

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

#104
post #61

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, g…

What I would really like to know is how much money it takes to get to that point. $5 million isn't enough according to a very interesting New York Times article: http://www.nytimes.com/2007/08/05/technology/05rich.html So how much does it typically take for someone in Silicon Valley to "solve the money problem"?

$5m invested invested fairly conservatively can throw off 8%, or $400k / year. I'm sorry, but if you can't live on $33k / month, even in the Bay Area, you've got problems.

A couple of those people in the article have homes worth over $1m that they own free and clear while they work 70 hours a week to make ends meet. Not smart. Mortgage the house to 70-80% (rates are dirt cheap right now) and invest the cash at the aforementioned 8%, which adds $100k / year to your bottom line, plus the tax benefits.

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

#105
post #61

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, g…

Dude and I am being serious, do you have a blog?

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

#106

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.

Wow! Where do you get ideas from?

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

#107
Duty: * Make sure that if I do nothing else, and barring a collapse of society, I don't have to work for anyone else again. * Make sure my wife can stop working for others, too. * Make sure my daughter can afford to go anywhere for higher-education. If she doesn't want to go to school, provide her the ability to try startup ideas. * Make sure my parents and parents-in-law are looked after. * Keep my relatives provisioned with computers, and buy my Dad copies of Mathematica and Matlab. * If I have sufficient funds, make sure my relatives can study anything/anywhere they want, as long as their marks are sufficient. * Prepare to leave some money to various causes.

Fun: * Actually spend the summer playing tennis, instead of in crunch mode. * Take my parents to Wimbledon, the French Open, the US Open, and the Australian Open. * Re-activate my Scuba licence, and spend some time diving. * Go sky-diving * Go on a "shooting range tour" where I fire all those guns you only see in games and movies, and to some kind of CQB training. * Learn to fly a plane * Learn to fly a helicopter * Re-learn how to ski and spend more time doing that. * Spend more time playing piano. Maybe learn the cello, the violin, or guitar. * Spend some time in extremely remote locations, like the high-seas, in mountains, or underground.

Non-Commercial Research: * Read even more. Make sure I've read the classics. * Spend a few years really learning Physics, at least up to EM with relativistic effects, QM, and GR. * Learn cell and molecular biology fundamentals. * Research Superconductivity. * Research computer vision, motion control, learning, and memory. * Research and implement a lifestyle that maximizes my own cognitive abilities, even if it's eccentric. * Re-learn French and German. Learn Mandarin and Japanese. * Research and implement programming languages. * Research meta-programming.

Make: * Build a legged tele-operated or autonomous robot. * Build a submarine * Start or contribute to open-source projects in games, simulation, and education. * Start a game studio. * Become a competent illustrator * Make an animated short. * Make a smart sci-fi film * Build a virtual CAVE.

... you get the idea ...

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

#108

Duty: * Make sure that if I do nothing else, and barring a collapse of society, I don't have to work for anyone else again. * Make sure my wife can stop working for others, too. * Make sure my daughter can afford to go anywhere for higher-education. If she doesn't want to go to school, provide her the ability to try startup ideas. * Make sure my parents and parents-in-law are looked after. * Keep my relatives provisi…

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

#109

I'd go back to school and study bioinformatics. I've seen too many friends and family suffer slow deaths from cancer, Parkinson's, and soforth and I think the solutions to those problems are only a matter of time. To be even a small part of that solution would be the most satisfying thing I can imagine.

If it's so important to you personally, what is stopping you from going after it now?
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