Me either initially, but they're great to get involved with and a testament to the power of organization. Found quite a few here based in Phoenix. Talking to like minded people who want to pool their resources together to see (positive) change is great. I wish they were marketed better so that people knew they existed, I believe that's one barrier that stops people from getting more involved other than apathy.
you have reached the point of living beyond subsistence, or built critical mass, as of right now.
Congratulations.
I would go real the incerto series by taleb and read about risk management etc, and then a lot of religion/philosophy, and try to develop a life thesis.
what do you want to do with your life beyond exist? Is it work on something? Help someone? Build something new?
it could be that it’s time to start tithing, for example, if you don’t already, or giving in excess. Or if that isn’t your thing go invest in something you really believe in like Tesla or whatever flavor of stock you believe is going to save humanity or whatever else you come up with for your “life thesis” and be a stone cold “holder” in supporting the business or endeavor (public or private)
I’m going through this the last few years - my net worth currently is Ballooning logarithmically at the moment and over the next 10 years.
my next thing I’m going to do after this is done is try to solve education because I think human learning is incredibly fucked up and only getting worse and it bothers me and I want to do something about it.
i know people that do/ have done politics and it’s a cesspool. I wouldn’t wade into it personally nor do I feel like it would suit me either.
the tldr of what I am trying to say is I have no specific suggestion of what you should do other than change your reference of excess money from “money” to “ink to write your thesis with”
This is a truly serious post, am looking for some advice here. I'm going to get specific, so I'm going to spoil it if you don't want to be bothered with the specifics. But what I'm trying to figure out is -- what the fuck do you do when you have too much money?
Yes, I can invest it and I do, but I'm running into complex problems and legitimately don't know what to do. I'm now running into issues with feeling forced to keep over 250K in the bank on my business which is stupid, dumb, and something I shouldn't do but I dont know where else or what else to move this to. Anyway, onto specifics.
Currently, I have a lot invested with a financial advisor overseeing it (Very low fee of 0.29% and I don't want to have to deal with all of it), and have already maxed out I Bonds for the year (10k for me, 10k for wife, and we allocated 5k from our tax refund toward ibonds, so 25k this year). I have no savings account, but have a gigantic line of credit (750K, LOL) available for any emergency with a 0 balance so its unnecessary to get a savings account since I can access the line immediately if I even needed to.
I own two companies which we'll call my SL company and my real estate company. We have six rental properties at this point, so we're covered there - 2 of them are paid off so they are pure cash flow but I have no need to mortgage them because I dont need more cash but at the same time I have equity not being put to use but what can I even do with all this? Plus its not my equity, it's my real estate companies. Both kids college 529s have 150K in them (maybe I can fund this more, but they aren't even 10 yet...), I have around a quarter million in gold (St gaudens, beautiful coins btw), and several firearms. I have one employee at my company, and have a SEP 401K already maxed, and I also offer it to my employee (required to) but he doesnt want it.
Taxes are all done, and my business has about 236K in the bank, *after* I withdrew all my retained earnings through 2021 and simply threw into my brokerage account. Next month my business will break 250K in the bank, but I have no idea what to do with this money. It's not mine till 2022 taxes are done, and there's frankly nothing I need to buy or invest into the business. Wife's job handles health insurance, so this isn't an expense I need to bother with. She maxes every contribution to everything she can (ESPP, 401K, HSA, etc). She makes like 150k a year and her paycheck is like 1800 every 2 weeks lol.
What the fuck do I do? What CAN I do? I don't have long-term care prepared, maybe that? I don't need more houses, and we live in a nice place already and don't really wanna move on anywhere and investment homes as of recently are not a good buy in my eyes. I have tried to get my wife to be on board with a live-in nanny or at least a full time nanny to take care of all the bullshit house work, but my wife actually LIKES doing this shit so I can't. I've thought about buying a franchise of something, but I am completely spoiled on passive income since my SL business and real estate business are both passive income. I literally play video games 8 hours a day because there's nothing else I know to do. We have older cars, but they work, why would I buy new ones? (I have a 2012 and she has a 2015). Do I just talk to my financial advisor and say "derp, help me out here?".
Edit: I've thought about going to college just for the sake of learning new shit, but with the state of college today, I'd rather pay for an online lesson based solely on facts and not instructor based.
I am going to tell you what my wife told me last year when I joked about buying a Tesla. I say joked because I had zero intention of dropping 100k on a car. I always thought the Model X was amazing looking with the gullwings. My BMW was paid off and I liked it alot.
My wife said to do it if it would make me happy. I told her no, that was cash that could be going into investments for retirement. She looked me dead in the eye and said you are almost 60 and could die tomorrow. Enjoy our wealth. You aren't taking it with you.
My point being, go do shit with your money. Enjoy some of it. I'm not saying go piss it away. Go "experience things". Go see the northern lights in Alaska or Iceland. Go experience Yellowstone. Go see the Pyramids in Egypt.
Experiences last a lifetime. Go enjoy some of your wealth while you are still young enough to. You can sit and game when you are old and infirm.
This is when you need to have the conversation with yourself and your wife about how much is "enough." And also, whether you're the type of person who can relax and not work.
I've been putting off my early retirement post for a while now, and will likely continue to do so cause I don't really care enough to make it. There are some people that "need" something to keep them occupied. But if that's not you, well, retirement is always an option.
I'm 7 months in and got to say that work sucks and I'm pretty content with not doing it anymore.
Holy fuck, boomer. Goddamn, I thought Chukzombi
was the only fossil on these boards. You shouldn't be allowed to have a license to drive that Tesla, gramps.
you have reached the point of living beyond subsistence, or built critical mass, as of right now.
Congratulations.
I would go real the incerto series by taleb and read about risk management etc, and then a lot of religion/philosophy, and try to develop a life thesis.
what do you want to do with your life beyond exist? Is it work on something? Help someone? Build something new?
it could be that it’s time to start tithing, for example, if you don’t already, or giving in excess. Or if that isn’t your thing go invest in something you really believe in like Tesla or whatever flavor of stock you believe is going to save humanity or whatever else you come up with for your “life thesis” and be a stone cold “holder” in supporting the business or endeavor (public or private)
I’m going through this the last few years - my net worth currently is Ballooning logarithmically at the moment and over the next 10 years.
my next thing I’m going to do after this is done is try to solve education because I think human learning is incredibly fucked up and only getting worse and it bothers me and I want to do something about it.
i know people that do/ have done politics and it’s a cesspool. I wouldn’t wade into it personally nor do I feel like it would suit me either.
the tldr of what I am trying to say is I have no specific suggestion of what you should do other than change your reference of excess money from “money” to “ink to write your thesis with”
This post is giving me stuff to think about. Thanks. I especially like your words on education. I guess it just boils down to.. it doesn't matter, its more so your life is transitioning into how you spend your time and what you do with your life vs. the typical daily grind.
I can't really stop working, and retirement? Not even an option, simply because the reality is my businesses require very little work at this point. Property manager handles everything on the RE side, and the SL business runs itself. But I'll talk it over with the wife and see if maybe we can find something truly big to work on. She's like me politically too and I know she'd be on board with the education situation too. You're absolutely right, human learning is fucked.
Edit: I've thought about going to college just for the sake of learning new shit, but with the state of college today, I'd rather pay for an online lesson based solely on facts and not instructor based.
Really though, with what you know about the economy of one of the only few real metaverses that actually exists, you should be able to become a consultant and hire yourself out to other companies involved in the metaverse space. And I promise, working in IT/telecom/cybersec consulting, being an internet weirdo is not a hindrance to getting hired by anyone.
Holy fuck, boomer. Goddamn, I thought Chukzombi
was the only fossil on these boards. You shouldn't be allowed to have a license to drive that Tesla, gramps.
This post is giving me stuff to think about. Thanks. I especially like your words on education. I guess it just boils down to.. it doesn't matter, its more so your life is transitioning into how you spend your time and what you do with your life vs. the typical daily grind.
I can't really stop working, and retirement? Not even an option, simply because the reality is my businesses require very little work at this point. Property manager handles everything on the RE side, and the SL business runs itself. But I'll talk it over with the wife and see if maybe we can find something truly big to work on. She's like me politically too and I know she'd be on board with the education situation too. You're absolutely right, human learning is fucked.
As an addition to add to your point- I plan to work until I keel over one day dead over my keyboard - but it will be doing what I want and care about. Not worried about money or retirement
AladainAF
Do you wish to amass more wealth or enjoy what you have?
On the topic of enjoying what you have, I would recommend traveling to places that pique your interest. Go down the list of the world 50 best beaches, and start going down the line.
