A couple years ago I came into about $200M (seriously), and let slip more than I should.
Really it just turns every conversation into a roundabout request for money. People are definitely nice to you and ask you onto all kinds of boards, funds, etc.. but it’s a hassle. You start to worry a little bit at least about personal security, especially if you have kids. You also worry about ruining them forever. (Also, watch out for temptation that could ruin your happy family life... suddenly you’re extra “attractive” it seems.)
On the bright side, you can try and get really big projects done, Elon musk-style. Just knowing you have the money helps a lot in getting meetings, raising more money, etc.
I’d just put it all in an s+p 500 index fund. Though of course I haven’t followed my own advice. I wouldn’t worry too much about dripping it in either, maybe put half in over a month and the rest over six months. Long term you’re pretty likely to wish you’d invested sooner rather than later.
Set up some estate planning stuff and buy a model 3!
That's a lot of money to invest in the health of one country's stock market -- a successful terrorist attack (think a dirty bomb in NYC or even multiple cities) could wipe out a significant portion of that overnight - it will likely recover eventually (as it did after 9/11), but that's a time when you'll want access to your money
I'd diversify across countries, and maybe precious metals.
Hey congrats and that's great! Appreciate your perspective and your perspective on how everyone wants to take your money. It's not the same thing, but there's an old essay from the 1920s or so - I can't find it - perhaps someone else can. It talks as advice to a young man about how everyone wants to separate you from your money.
S&P500 fund is not a bad idea, maybe a 3-fund portfolio for me.
Agree on invest early. I moved everything to cash 3 years ago, sadly.
That's really interesting to know. I suppose if I ever came into that much money, it would be a good idea to keep real quiet about it. Thanks for sharing.
I love that you admitted to the movie part! I think there is a lot of personal satisfaction to be gained from using financial freedom to create art, even if it's not quite as easy to articulate to other people compared to the benefits of the other projects you mention. Certainly, it's my primary motivator. No need to be embarrassed!
Saying he came into it makes it sound like inheritance but that's an unusually large amount. Maybe a lottery winner. Or just ambiguous wording and I'm making too many assumptions. Either way, cool for him :)
Are you willing to share the story? I would hazard a guess that you played around with mining on your old laptop in 2010, accidentally left it running for a while, mined 10k bitcoin, and sold around the top at 19k each.
Really it just turns every conversation into a roundabout request for money. People are definitely nice to you and ask you onto all kinds of boards, funds, etc.. but it’s a hassle. You start to worry a little bit at least about personal security, especially if you have kids. You also worry about ruining them forever. (Also, watch out for temptation that could ruin your happy family life... suddenly you’re extra “attractive” it seems.)
On the bright side, you can try and get really big projects done, Elon musk-style. Just knowing you have the money helps a lot in getting meetings, raising more money, etc.
I’d just put it all in an s+p 500 index fund. Though of course I haven’t followed my own advice. I wouldn’t worry too much about dripping it in either, maybe put half in over a month and the rest over six months. Long term you’re pretty likely to wish you’d invested sooner rather than later.
Set up some estate planning stuff and buy a model 3!