Congrats! I'm in similar situation couple of years ahead of you. There are good recommendations about the practical side of things in this thread. I like the bogleheads approach of simple index investing.
The actual transition was thrilling for me especially because I never anticipated that my life would still change once more at this age. The joke is of course as I had heard before, but never truly believed, that actually nothing changes. I wish the possibility of finding out that money really does not make you happy to as many people as possible.
I refrained from doing anything for almost two years. First big thing I did after that was to stop paying rent and got a decent apartment. Most sensible things to do with money are incredibly boring. And the fun things lose some of their charm if they become really affordable and common. The whole thing hinges on desire to have something you can't reach.
So the choices are to either up your game or decide that maybe this is enough. For me the jump was so big that my hedonic treadmill maybe got damaged.
I never was so materialistic, but I used to maybe value experiences and dream about ability to set my own schedules. Now I'm afraid that those as well are a mirage. Just a trendy pastime for people like me who have had always quite easy life.
I think the less known secret about money is that nothing needs to be done about it.
Sorry to everyone reading who are in a tough spot. I am aware that this is super tonedeaf.
Quoting Dalai Lama's reply to a question by a journalist about if Dalai Lama would counsel a rich or a poor person - "Rich person, of course. They know wealth does not change anything."
Warren Buffett Quote: “Money is not everything. Make sure you earn a lot before speaking such nonsense.”
Great comment. I anticipate I'll agree that nothing really changes and it doesn't make you happier. The literature says after you make $70-$120k/year it doesn't get much better. Joe Rogan says once you can buy a nice dinner without checking your bank account you're rich, or something like that.
The actual transition was thrilling for me especially because I never anticipated that my life would still change once more at this age. The joke is of course as I had heard before, but never truly believed, that actually nothing changes. I wish the possibility of finding out that money really does not make you happy to as many people as possible.
I refrained from doing anything for almost two years. First big thing I did after that was to stop paying rent and got a decent apartment. Most sensible things to do with money are incredibly boring. And the fun things lose some of their charm if they become really affordable and common. The whole thing hinges on desire to have something you can't reach.
So the choices are to either up your game or decide that maybe this is enough. For me the jump was so big that my hedonic treadmill maybe got damaged.
I never was so materialistic, but I used to maybe value experiences and dream about ability to set my own schedules. Now I'm afraid that those as well are a mirage. Just a trendy pastime for people like me who have had always quite easy life.
I think the less known secret about money is that nothing needs to be done about it.
Sorry to everyone reading who are in a tough spot. I am aware that this is super tonedeaf.