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06-03-2015, 02:58 PM
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#21
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Thinks s/he gets paid by the post
Join Date: Oct 2002
Location: Chattanooga
Posts: 3,893
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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.
__________________
Earning money is an action, saving money is a behavior, growing money takes a well diversified portfolio and the discipline to ignore market swings.
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06-03-2015, 03:05 PM
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#22
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Thinks s/he gets paid by the post
Join Date: Nov 2013
Location: Bay Area
Posts: 2,745
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 Quote:
Originally Posted by austinn
24 million windfall. Single. Early 30's. Parents alive, want to help them.
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Please send me a PM on how you got the windfall. Pronto. Thanks.
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06-03-2015, 03:05 PM
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#23
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Thinks s/he gets paid by the post
Join Date: Jun 2014
Posts: 1,069
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Quote:
Originally Posted by frayne
Is this a hypothetical, or did you actually come into $24 million ?
If you actually came into $24 million, turn off the computer and go enjoy life.
Frankly, I'm a little skeptical.
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+1
Thats why i picked one fund and would go spend it. Worrying about making 1 more percent no longer is worth your time.
Sent from my iPhone using Early Retirement Forum
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06-03-2015, 03:08 PM
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#24
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Thinks s/he gets paid by the post
Join Date: Oct 2009
Posts: 2,010
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Do you have the knowledge and experience to manage a 24M$ 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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06-03-2015, 03:39 PM
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#25
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Thinks s/he gets paid by the post
Join Date: May 2014
Location: Utrecht
Posts: 2,650
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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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06-03-2015, 03:41 PM
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#26
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Thinks s/he gets paid by the post
Join Date: Oct 2002
Location: Chattanooga
Posts: 3,893
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Quote:
Originally Posted by folivier
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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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 ?
__________________
Earning money is an action, saving money is a behavior, growing money takes a well diversified portfolio and the discipline to ignore market swings.
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06-03-2015, 04:28 PM
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#27
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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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
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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06-03-2015, 04:32 PM
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#28
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Thinks s/he gets paid by the post
Join Date: Jul 2009
Location: Miraflores,Peru
Posts: 1,992
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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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06-03-2015, 05:15 PM
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#29
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Thinks s/he gets paid by the post
Join Date: Jun 2013
Location: Bonita (San Diego)
Posts: 1,795
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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.
__________________
"So we beat to our own drummer in the sun;
We ask for nobody's permission to run.
I just wanna live in a world like that;
Now I'm gonna live in a world like that!" - World Like That, O.A.R.
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06-03-2015, 05:24 PM
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#30
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Moderator Emeritus
Join Date: Aug 2007
Location: Northern Illinois
Posts: 16,600
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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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06-03-2015, 05:49 PM
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#31
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2007
Posts: 9,958
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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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06-03-2015, 06:06 PM
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#32
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Thinks s/he gets paid by the post
Join Date: Feb 2014
Posts: 3,083
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How about give 100k to any poster in this thread? 
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06-03-2015, 06:09 PM
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#33
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Thinks s/he gets paid by the post
Join Date: Feb 2012
Location: Northern Ohio
Posts: 3,182
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Quote:
Originally Posted by frayne
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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+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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06-03-2015, 06:28 PM
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#34
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Full time employment: Posting here.
Join Date: Jan 2011
Posts: 586
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Read on this book.
Booglehead's Guide to Investing. $17.55 at Walmart.
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06-03-2015, 07:25 PM
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#35
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Thinks s/he gets paid by the post
Join Date: Jul 2006
Posts: 1,901
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I would change "charity to parents" to payback.
__________________
“I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said” Alan Greenspan
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06-03-2015, 08:00 PM
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#36
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Full time employment: Posting here.
Join Date: Feb 2011
Posts: 852
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Quote:
Originally Posted by frayne
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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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.
Sent from my iPad using Early Retirement Forum
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06-03-2015, 08:15 PM
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#37
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Recycles dryer sheets
Join Date: Sep 2012
Posts: 459
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Quote:
Originally Posted by Bikerdude
I would change "charity to parents" to payback.
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+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!
__________________
Retired at age 52 on 12/1/2016
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06-03-2015, 08:27 PM
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#38
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Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 2,223
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Quote:
Originally Posted by frayne
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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I wonder if the OP is Nords playing us 
__________________
" A person is smart, but People are dumb, dangerous, panicky animals, and you know it " Agent "K", Men in Black
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06-03-2015, 08:42 PM
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#39
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2009
Posts: 9,343
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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!
Sent from my iPad using Tapatalk
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06-04-2015, 12:09 AM
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#40
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Thinks s/he gets paid by the post
Join Date: Apr 2012
Posts: 2,929
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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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