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40 years old, 15 million cash, what do you do?

8,025 Views | 56 Replies | Last: 3 yr ago by SMM48
Carlo4
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AG
ag0207
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I would just keep doing what he is doing as it is obviously working.....and I would take some awesome trips.

Oh & I wouldn't tell any strangers in a bar or any women for that matter.
CaptTex
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Start a trucking company, buy 10 new Peterbilts with matching step decks. Deck em out with custom paint and chrome, hire 10 drivers, and turn em loose on contract freight. Wanna know how to have a million dollars in trucking? Start with 15 million.

But in all seriousness, income producing properties such as self storage and other low maintenance endeavors is the way to go. Maintain a good cash reserve or extremely liquid investments to always have access to cash.
FrioAg 00
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He's already well overfunded for the lifestyle he likes to live - why do we keep suggesting "investments" that are part job and part investment seeking returns.

Hell, he could put all his money in low risk, low return investments and live well within that cash spinoff

ORAggieFan
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My goal would not be to grow my wealth but keep it. I'd probably only have one extra home simply for the enjoyment of variety to new places. I'd golf a lot and look to live off $600k/year, which can go fast after taxes. $10 mil is my target number to retire and live my life as it is.
Carlo4
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FunkyKO said:

At this point? Like now? No stocks?

Munis. Roughly 4.5% tax free. 675,000 a year right now tax free. 56250 a month. Live off what you need, reinvest the remainder.


I really like this advice. I'm from such poor stock that I'm the first one learning about investing and hoping to pass on to future kids/grandkids (patent pending).

If this was me, I would do the KISS method and follow this verbatim until I found something great to invest in and grow my money further.
YouBet
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FrioAg 00 said:

He's already well overfunded for the lifestyle he likes to live - why do we keep suggesting "investments" that are part job and part investment seeking returns.

Hell, he could put all his money in low risk, low return investments and live well within that cash spinoff


Yeah, I feel like we are over complicating this. I would do the thing that would require the least amount of effort that lets me live very comfortably.

I would have one splurge purchase (mountain house) and then see how the rest of it goes.
FrioAg 00
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If I'm that overfunded, my splurge purchase is going to be a 74 foot sunchaser and enough fuel to bounce all over the Caribbean for my 50s
94chem
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Man, I'd trick out my Ford Econoline with gold rims, the whole 9 yards. I'd get my lab mix a diamond-spiked collar. I'd buy my wife something really nice, like some of those Japanese knives they sell at those high end kitchen stores. I'd get all my kids season passes for that new water park in Montgomery County. And for me, no more cheap swill. I'd get a sixer of Michelob or something nice. Vacations in Galveston, Golden Corral for holidays, and a new cover for the sofa in the RV.
Monywolf
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aggiefan2002 said:

I met a guy traveling last week that said a little much over a few beers but really captivated me with his story.

His net worth is 15 million, fully liquid if he wanted, and he said he still worries about money sometimes because he grew up without much and still feels like he doesn't have much.

So I was curious...if someone was VERY conservative to limit almost any possible downside risk, what could they reasonably expect as an annual return? 2-3-4%?

Secondarily, just for fun, what would you do with your time if you were 40, worth $15 million, and didn't really care for your job. Just for fun, the guy said he's pretty cheap and lives off about 10-12k/month. Ha ha.
See the 3 month US treasury bill yield
chrisfield
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Moneywolf - .14?
Endo Ag
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Quit giving the guy a plan. This is how people end up paying six figures for an "advisor".

This person to park it in cash until he/she get a book on investing and a therapist to help with the misplaced anxiety.
AgEng06
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No more blue stars, please.


Farmer1906
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Ulrich said:

I would spend 5mm on a property in a low tax part of the country and split the rest between two wealth managers (in case one turns out to be a criminal), both with the goal of getting me safe, stable annual income.
This sounds about right. Maybe 2 houses at around 1.5-2 M.
EliteZags
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I'd do this 4-5 days a week instead of 1-2


62strat
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EliteZags said:

I'd do this 4-5 days a week instead of 1-2



That's a whole lot of 5s and 6s.. but good for you!
YouBet
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EliteZags said:

I'd do this 4-5 days a week instead of 1-2



Boats and hoes!
K_P
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62strat said:

EliteZags said:

I'd do this 4-5 days a week instead of 1-2



That's a whole lot of 5s and 6s.. but good for you!


Quantity over quality?
shaynew1
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Part time elementary school janitor, full time sheep hunter.
Drawkcab
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I'd spend about $14.5 mil on hookers and blow and probably just waste the rest.
Stumpknocker
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Call vanguard flagship services. They will send a plane for you with that much money.

Waffle11
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First, I would simply throw a million at my parents and my in-laws. You get this, no more. Go nuts.

After that, I'd keep investing, but be more conservative and pull out a million a year. By the time I'm in my early 50s, I would just...walk away from my job. Spend the next 30 years just living and travelling, while also putting gains from over the years into other accounts for any kids I may have so that they can be set, but only after they walk across the stage with a real degree. No "Sociology of Medieval Dance" in my house.
SMM48
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No they won't
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