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View Poll Results: You're young, you just reached your million dollar milestone, what next?
Allocate assets among equities & bonds via mutual funds, ETFs, stocks, bonds, cash 85 66.93%
Invest in a hedge fund, private equity and managed futures 3 2.36%
Buy rental property 8 6.30%
Buy a business or two 2 1.57%
I need even more risk, so it's Las Vegas for me 6 4.72%
Retire now 17 13.39%
Spend it all 6 4.72%
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Poll: I'm in my 30's and have almost a million, what should I do next?
Old 02-23-2007, 07:40 AM   #1
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Poll: I'm in my 30's and have almost a million, what should I do next?

I thought the subject deserved a poll, so here it is.
Harm aka HappyGang has two discussions going:

http://early-retirement.org/forums/i...?topic=12468.0

http://moneycentral.msn.com/communit...hreadID=210533
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?
Old 02-23-2007, 07:47 AM   #2
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?

Depends on lots of things.
However, without additional information I like to play it safe. So my advice would be, now that you have 1 million, get 2
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?
Old 02-23-2007, 07:49 AM   #3
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?

Beever-cheez3 futures, preferably leveraged.
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?
Old 02-23-2007, 07:57 AM   #4
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?

I recommend Harm read some books by that motorcycle guy (Kawasaki?) and follow his advice meticulously. Be sure not to miss any detail or the results could be disastrous.

Another alternative would be for Harm to pick a Vanguard Target Retirement fund and keep shoveling savings into it.

Whatever helps you sleep at night...and nap in the afternoons.

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Re: Poll: I'm in my 30's and have almost a million, what should I do next?
Old 02-23-2007, 08:03 AM   #5
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?

1. Buy Target Retirement Series closest to your mental age.

2. Enjoy family, life and career to the best of your ability.

3. When your 'belly button' says retire - suck up your guts and retire.

heh heh heh - keep it simple, don't read a lot of investment books, watch out for overthinking the problem, - as to hormones: golf, kayak, etc., - anything BUT hobby stocks or you'll get a pot belly and high blood pressure.
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?
Old 02-23-2007, 08:29 AM   #6
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?

Quote:
Originally Posted by Zathras
Depends on lots of things.
However, without additional information I like to play it safe.
Make a plan. Set some goals.
Do you have a spouse? Does that spouse help you earn it or spend it or both?
Do you want to enjoy the things money can buy or pass it on to relatives (or Uncle Sam)? ie. Estate planning
It is probably harder for a thirty-something to think about those things than it is for
a 55 yr old in ER.
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?
Old 02-23-2007, 08:34 AM   #7
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?

Quote:
Originally Posted by REWahoo!
Whatever helps you sleep at night...and nap in the afternoons.
By the way, napping is vastly underrated as a FIRE activity. I practice it any chance I get; my technique is pretty darn good, but I think I still need more practice.
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?
Old 02-23-2007, 10:03 AM   #8
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?

Man I wish I could nap. I just sit there with my eyes closed thinking of all the stuff I should be doing...
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?
Old 02-23-2007, 10:10 AM   #9
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?

What about "Just keep doing what you've been doing?"

If you made $1mil by your 30s and your net worth keeps rising month after month with your current plan, why change to some other formula with unknown results?

Why make things more complicated when they don't need to be?
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?
Old 02-23-2007, 10:26 AM   #10
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?

Quote:
Originally Posted by Cute Fuzzy Bunny
Man I wish I could nap. I just sit there with my eyes closed thinking of all the stuff I should be doing...
You have much to learn before mastering retirement, Grasshopper...

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Re: Poll: I'm in my 30's and have almost a million, what should I do next?
Old 02-23-2007, 12:30 PM   #11
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?

Quote:
Originally Posted by Rich_in_Tampa
By the way, napping is vastly underrated as a FIRE activity. I practice it any chance I get; my technique is pretty darn good, but I think I still need more practice.
It shouldn't be limited to when you're FIREd....I've been known to do it a (scant) few times at work. Although, you could end up fired before you're FIREd.
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?
Old 02-23-2007, 12:34 PM   #12
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?

Quote:
Originally Posted by REWahoo!
You have much to learn before mastering retirement, Grasshopper...
Five bucks says I can get that pebble out of your hand...
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?
Old 02-23-2007, 12:54 PM   #13
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?

Quote:
Five bucks says I can get that pebble out of your hand...
Yeah, but you can't use a machete!
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?
Old 02-23-2007, 01:30 PM   #14
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?

If the advice is for Harm ,I'd say go to Las Vegas .He seems like a real winner !!
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?
Old 02-23-2007, 01:39 PM   #15
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?

I did the most insane thing. My first $1M was in company stock. And I left it there! For several more years until I was ready to ER. It was my best shot, so I bet the farm.

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Re: Poll: I'm in my 30's and have almost a million, what should I do next?
Old 02-23-2007, 01:59 PM   #16
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?

Quote:
Originally Posted by MooreBonds
It shouldn't be limited to when you're FIREd....I've been known to do it a (scant) few times at work. Although, you could end up fired before you're FIREd.
Honestly, if I could take a nap in the middle of the day, a truly uninterrupted peaceful nap, I would be willing to work for a few more years!

Besides being downright enjoyable, a nap during the day has been shown to reduce heart attacks ...
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?
Old 02-23-2007, 02:06 PM   #17
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?

Quote:
Originally Posted by Lusitan
Honestly, if I could take a nap in the middle of the day, a truly uninterrupted peaceful nap, I would be willing to work for a few more years!
That's one benefit of semi-retirement. I haven't taken many afternoon naps in a while since I've been busy doing other things. They do help take the edge off and give me more energy for the second half of my day.

I think I'll go take a 30 minute snooze right now.
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?
Old 02-23-2007, 02:08 PM   #18
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?

...post on an internet message board with a half bragging thread that you know how to accumulate gobs of money by the time you are 30 to get everyone's attention/half question like you dont know how to accumulate money so that you can actually figure out how to do it
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?
Old 02-23-2007, 02:11 PM   #19
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?

Quote:
Originally Posted by audreyh1
I did the most insane thing. My first $1M was in company stock. And I left it there! For several more years until I was ready to ER. It was my best shot, so I bet the farm.
Knowing my luck, had I bet the farm I would have ended up buying the farm. :P

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Re: Poll: I'm in my 30's and have almost a million, what should I do next?
Old 02-23-2007, 02:20 PM   #20
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Re: Poll: I'm in my 30's and have almost a million, what should I do next?

Quote:
Originally Posted by REWahoo!
Knowing my luck, had I bet the farm I would have ended up buying the farm. :P

We did buy the farm...at least the fertilizer parts of it. DW's whole 401K was in company stock...nothing else. After we got married and I started going through assets and I that her entire retirement account was in company stock. This was the net accumulation of over 25 years with the same company and she contributed to her account every year. We had lots of "discussions" about the wisdom of this and she was convinced her company could do no wrong and that past performance would continue forever.

Long story short, I was not able to move enough of it out to other funds in her account before the s*it hit the fan and the stock dropped 50% overnight and still has not hit the levels it was at before that happened in 1999. That was quite a hit to our NW since our stock options also took the same hit so we lost them as they expired (drowned).
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