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Old 06-03-2015, 03:58 PM   #21
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Is this a hypothetical, or did you actually come into $24 million ?

If you actually came into $24 million, turn off the computer and go enjoy life.

Frankly, I'm a little skeptical.
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Old 06-03-2015, 04:05 PM   #22
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Originally Posted by austinn View Post
24 million windfall. Single. Early 30's. Parents alive, want to help them.

Please send me a PM on how you got the windfall. Pronto. Thanks.
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Old 06-03-2015, 04:05 PM   #23
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Is this a hypothetical, or did you actually come into $24 million ?

If you actually came into $24 million, turn off the computer and go enjoy life.

Frankly, I'm a little skeptical.

+1

Thats why i picked one fund and would go spend it. Worrying about making 1 more percent no longer is worth your time.


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Old 06-03-2015, 04:08 PM   #24
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Do you have the knowledge and experience to manage a 24M$ portfolio?
I know I wouldn't. Interview a few FA's and pick one you feel will work in your best interest. They can help you in many different ways and have access to investments you won't as an individual. And let your FA worry about your portfolio on a daily basis while you enjoy your life!
Congrats.
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Old 06-03-2015, 04:39 PM   #25
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I honestly don't know.

One option:
  • 4M in Vanguard VT - who cares if it drops 50%
  • Keep on renting
  • Use the other 20M to setup a fund so others can ER - starting with my two siblings, expand to nieces maybe.
After that, travel the world, meet interesting people. Learn how to sail, paint, play guitar, dance. Help someone get a business running, or a non-profit to do things better.



Basically what Í'm doing now, only with more intensity, assurance and more financial room to do it.
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Old 06-03-2015, 04:41 PM   #26
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Do you have the knowledge and experience to manage a 24M$ portfolio?
I know I wouldn't. Interview a few FA's and pick one you feel will work in your best interest. They can help you in many different ways and have access to investments you won't as an individual. And let your FA worry about your portfolio on a daily basis while you enjoy your life!
Congrats.
I would manage $24 million much like I would manage $1 million, which is no big deal. Why pay a FA $125-250K for essentially sitting on his/her thumbs ?
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Old 06-03-2015, 05:28 PM   #27
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I am glad to see this timely thread. It's something that we all will face I'm sure.

If I had $24mm I would do what many other local venti-millionaires do. Put it in the bank, and sell Real Change in front of Trader Joe's. That way it could keep growing.

Ha
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Old 06-03-2015, 05:32 PM   #28
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Looks pretty good from my perspective. If were me I would make a few tweeks.
500k is pretty light for toy's.
Plan on giving 12m to the future EX, who should be along shortly!
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Old 06-03-2015, 06:15 PM   #29
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If all that stuff is paid for - primary residence, etc. - and you're left with an $18MM portfolio, yeah, I am with those saying I'd go out and TRY to spend $400-500K per year just to see if I could, and I'd probably put it in a single fund of some variety just to keep up or slightly outpace inflation. Vanguard Total World works, or VTSAX... or Wellington or Wellesley or whatever. One of those W's.
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Old 06-03-2015, 06:24 PM   #30
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Sounds like a good plan, but I would do a cd ladder instead of the bond fund.
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Old 06-03-2015, 06:49 PM   #31
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Are you the same guy that wanted to hide his money details from his girlfriend?

Now I understand what the problem was...or should I say the 24 million problems.
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Old 06-03-2015, 07:06 PM   #32
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How about give 100k to any poster in this thread?
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Old 06-03-2015, 07:09 PM   #33
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I would manage $24 million much like I would manage $1 million, which is no big deal. Why pay a FA $125-250K for essentially sitting on his/her thumbs ?
+1

I was thinking the same thing. $2.4 million vs $24 million.

Obviously more to spend but it's basically the same investment challenge.

Maybe if it was $25 billion, then you get to set up a foundation to try to change the world.
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Old 06-03-2015, 07:28 PM   #34
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Read on this book.
Booglehead's Guide to Investing. $17.55 at Walmart.
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Old 06-03-2015, 08:25 PM   #35
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I would change "charity to parents" to payback.
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Old 06-03-2015, 09:00 PM   #36
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I would manage $24 million much like I would manage $1 million, which is no big deal. Why pay a FA $125-250K for essentially sitting on his/her thumbs ?
There is why AUM charges make no sense and why it would be wise to steer clear of any FA who won't simply work for a reasonable flat hourly fee. I know of at least one who would happily do it for less than a tenth of what is suggested above. This a firm that manages over $3.5 billion in assets as of Spring 2015 and has been ranked within the top 50 US advisory firms by Forbes and Investment News.


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Old 06-03-2015, 09:15 PM   #37
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I would change "charity to parents" to payback.
+1. How can one even say charity to parents? OP is fortunate that he gets an opportunity to make his parents' life better and make them proud!
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Old 06-03-2015, 09:27 PM   #38
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Is this a hypothetical, or did you actually come into $24 million ?

If you actually came into $24 million, turn off the computer and go enjoy life.

Frankly, I'm a little skeptical.
I wonder if the OP is Nords playing us
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Old 06-03-2015, 09:42 PM   #39
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I wonder if the OP is Nords playing us

I don't know about that, but I have been waiting for the ol curmudgeon ReWahoo to raise his skepticism about the legitimacy of this post!


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Old 06-04-2015, 01:09 AM   #40
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I'm also beginning to doubt that the OP is legit. That was/is their one and only post.
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