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Old 10-15-2017, 06:24 AM   #81
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The movie Fool’s Gold; that yacht life. (That’s assuming 10 figures could sustain it.) But, current savings and investments stay as is, just in case. My DW would be amazed, making it all the more enjoyable.
It’s fun to dream.
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Old 10-15-2017, 06:25 AM   #82
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I expect that I would increase charitable giving and start transferring the annual max to the kids. Like the OP I am not about to hit 8 figures but we are doing well enough to have a very low withdrawal rate. I expect a major correction sometime in the next few years. After that and as I hit my late seventies I will consider doing some transfers if things go well. I would also consider sequestering a portion of the portfolio and letting the kids decide if they want to change the AA on it.
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Old 10-15-2017, 06:57 AM   #83
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With $10 MILLION I would declare I won the game and Game over!!! Hire a good tax lawyer and accountant and secure the income. Then figure how to spend all that income and pray that I would live to spend some of the income. Would also gift some to charity and fund some education for our grand nieces and nephews.
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Old 10-15-2017, 08:11 AM   #84
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I would upgrade my gym membership from the $10 a month to the premium $20 a month one. Then start dreaming of 9 figures...
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Old 10-15-2017, 09:20 AM   #85
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Like others, I’d slowly go to a more conservative AA in keeping with the “when you’ve won the game, why keep playing” line of thinking. I might up our spending, but not much if at all. If I’d wanted to spend more, I wouldn’t have retired early.
See, I think I would do the opposite. I would keep the amount I already have to fund a comfortable ER (or just a tad more) and I would put all the rest to work aggressively in the market. Then, worst case scenario, I lose all the new money and keep the retirement I had already planned on.

Best case scenario ? I kick that bum Branson off his island and live happily ever after...
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Old 10-15-2017, 09:31 AM   #86
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See, I think I would do the opposite. I would keep the amount I already have to fund a comfortable ER (or just a tad more) and I would put all the rest to work aggressively in the market. Then, worst case scenario, I lose all the new money and keep the retirement I had already planned on.

Best case scenario ? I kick that bum Branson off his island and live happily ever after...
The old “take less risk because I don’t need to” versus “ take more risk because I can afford to” debate. The approach will depend on your risk appetite, age, any legacy objectives, personality. I can see both sides of the issue.
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Old 10-15-2017, 10:09 AM   #87
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The old “take less risk because I don’t need to” versus “ take more risk because I can afford to” debate. The approach will depend on your risk appetite, age, any legacy objectives, personality. I can see both sides of the issue.
I'd be on the 'take more risk' side although I can't say that I see investing in the total stock market with a 60 year or longer time horizon as exactly taking more risk. With a more than adequate nest egg and four children this is what we have been doing since it became apparent that we were set and it was time to consider the bigger picture. I think Bill Bernstein's advice is good for the money that you are relying on but I feel that funds beyond that should be invested with children/legacy in mind.
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Old 10-15-2017, 10:28 AM   #88
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New underwear everyday!
This reminds of an article I'd read years ago in the NYT. All I recall was the mention of a laundry/dry cleaner catering to the uber-wealthy in NYC who shaved the socks of his clients to remove any 'pills' and restore the socks to brand-new condition.

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Old 10-15-2017, 10:32 AM   #89
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New underwear everyday!
When I read this, I couldn't help figuring out what the yearly cost of this would be. Honestly it wouldn't be that much! I doubt I would do it, but gosh, what an incredibly cool idea.
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Old 10-15-2017, 10:34 AM   #90
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Why would you even invest if you had an 8 figure net worth, 10 mil in a cd at .01% is $100k a year
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Old 10-15-2017, 10:36 AM   #91
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Why would you even invest if you had an 8 figure net worth, 10 mil in a cd at .01% is $100k a year
Also if you suddenly had an 8 figure net worth, I thought you might spend a little and change your username to 98guns.
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Old 10-15-2017, 10:41 AM   #92
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New underwear everyday! Semper ubi, sub ubi.
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When I read this, I couldn't help figuring out what the yearly cost of this would be. Honestly it wouldn't be that much! I doubt I would do it, but gosh, what an incredibly cool idea.
And now you could set up Amazon to deliver them on a schedule (to avoid storing large quantities).

If you're Prime, you could get a pair delivered free every day.

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Old 10-15-2017, 10:43 AM   #93
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And now you could set up Amazon to deliver them on a schedule (to avoid storing large quantities).

If you're Prime, you could get a pair delivered free every day.

omni
Sounds great! And for less than $1K/year, too.
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Old 10-15-2017, 10:44 AM   #94
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Donate more and buy the occasional EV for a friend.
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Old 10-15-2017, 11:36 AM   #95
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Why would you even invest if you had an 8 figure net worth, 10 mil in a cd at .01% is $100k a year
I will some day retire from working, but I don't think I will ever stop investing. I am only 36, so I may retract that statement one day, but where I stand now, I hope to keep investing for my lifetime.
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Old 10-15-2017, 11:57 AM   #96
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I'd be on the 'take more risk' side although I can't say that I see investing in the total stock market with a 60 year or longer time horizon as exactly taking more risk. With a more than adequate nest egg and four children this is what we have been doing since it became apparent that we were set and it was time to consider the bigger picture. I think Bill Bernstein's advice is good for the money that you are relying on but I feel that funds beyond that should be invested with children/legacy in mind.
I tend to agree with you, especially if you have a legacy objective. But some people just can’t sleep at night with a lot of equity. Never been a problem for me.
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Old 10-15-2017, 11:59 AM   #97
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Why would you even invest if you had an 8 figure net worth, 10 mil in a cd at .01% is $100k a year
I think .01% of $10,000,000 is only $1,000 a year?
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Old 10-15-2017, 12:36 PM   #98
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Old 10-15-2017, 12:53 PM   #99
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Why would you even invest if you had an 8 figure net worth, 10 mil in a cd at .01% is $100k a year


$100k doesn’t come close to covering it for many people, and why not invest? When you’re wealthy you can afford to ride out ups and downs.
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Old 10-15-2017, 01:00 PM   #100
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Something I'd think about: Enough Already - HumbleDollar
“WHEN YOU’VE WON THE GAME, stop playing with the money you really need.” That’s something my longtime friend and fellow author William Bernstein is fond of saying—and lately it’s been on my mind.

I'd still run it, although after another digit most of it would be outsourced.
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