I just made $10 million. I will most likely never make anything close to that ever again...

I just made $10 million. I will most likely never make anything close to that ever again. What should I do to sustain (or even increase) that amount of money while still using at least some of it? I mean, I don't want to be that guy who lives like he's poor while actually having a lot of money and then die without ever enjoying it.

My first thought was to buy a house. What's a good max amount/wealth percentage to spend on a house if I have $10 million now but my future cashflow will be much lower (spending something 9 mil on a house is of course possible but it seems like it would definitely end up biting me in the ass later)? Any other investments I should make? How about going into real estate?

Other urls found in this thread:

http://etorosocial.online/
twitter.com/NSFWRedditVideo

How'd you make the money?

Buy something that makes you money and start a small business. Renting out real estate's not a bad idea.

Also invest some in crypto, since that's all the rage.

I've been debating this. Amount to spend on your house depends on how much you want your cashflow to be.

Conservatively invested, you could probably have a cashflow of $360k a year from a $9 million investment.

So idk. Personally, I don't think a home is a great investment, it's an enjoyable expense. When you consider that expensive homes also have big property taxes and are naturally going to require more upkeep it's much less likely you ever see a real return. If a big house is really important to you, go for it. But if you can keep a smaller place, you'll probably have more time and money for other things.

Rent your living space, buy cheap farmland in South America and hold it for years, buy property in Detroit, and put a million into social trading across 10-15 different traders on http://etorosocial.online/ to have a passive income you can probably live off of.

Thanks for the suggestions!
I made the money by selling something extremely valuable that I acquired almost by accident.
How would 1 mil be for a house? That way I can have a nice looking house in a good location but I still have a lot of money to "play" with. I don't need the 16 rooms some of the more expensive houses offer.
Also, are there any good guides about trading and real estate? I only have basic knowledge of trading and real estate and my economics education was more focussed on businesses from an internal standpoint. By the way, I'm by no means an expert, but isn't eToro's "star trader" system something that would hurt you in the sense that it could easily be manipulated and ultimately causes the stocks to be less valuable since everyone has them? Do those low risk star traders actually make you money?

Unless you are planning to rent it out, a house is a terrible investment option.

I would probably take a big loan, then budget about 1 million for land and the house + garden and stuff. Loan because the interests are so low (at least here)

Dude.
Whatever the heck you decide to do, do your fucking research. For real, man.

Everybody is only out for themselves. Everyone will try to swindle you.

Never walk into any type of negotiation without knowledge of everything surrounding the subject you can possibly learn.

Real estate: if you plan to keep it, you need to know your yearly total costs. This includes all utilities, property taxes, cable, association fees, etc.

I would recommend taking the realtor course before even thinking about it if I was dealing with that kind of cash.

Securities? Read an actual textbook.
It will tell you the straight facts. What it means to diversify, anomalies in markets, what etfs are, how fees are structured, etc.

Cryptocurrency? Remember they're all literally hype based.

I would start a business with part, buy an upper middle class house, and invest the rest into dividend paying stocks to give me a security blanket.

Awesome thread. Very very believable. You clearly speak like a man that recently made 10 million dollars.

>has 10 million
>comes to Veeky Forums for advice
for real if you aren't larping, you should hire some professional advisors.

> I just made $10 million. I will most likely never make anything close to that ever again. What should I do to sustain (or even increase) that amount of money while still using at least some of it?
You need to believe in yourself and develop more willpower my man.

What was the item? Come on just tell us

Maybe your first order of business is to make sure you have deducted the taxes you will pay for your $10 million income. Hire an accountant

Commercial Real Estate. Talk to a CPA about the tax benefits, nothing comes close. This is how you grow your wealth to 50MM for your heirs.

You should buy a house. Nothing crazy, but in a place you like. You need to live somewhere, and you will get money from appreciation. Spend 800k to a mill. With the rest, buy a decent, reliable car if you don't have one, and do a mix of dividend bearing stocks, rental real estate in B-B+ areas, and a little into crypto, you can easily make 20-30% on 9 million, which would be 2-3 million a year

Put 9 million in a 5% annual fund and live a modest life off of the interest

Larping refers specifically to roleplaying in live action. This would just be roleplaying, in that case.
I know larping sounds cooler as a verb, but it's just not correct here.

>Jews that will advise him to invest in shit that will make them instant cash by commission

lol no

Actually the "star system," would do the opposite of what you said. If everyone has them and not selling it, it's more valuable that way. Just put .05% of your total amount into every trade. Would an easy passive income and less risk/stress to you.

>Buy property and rent it out
>Stocks
>/biz

shut the fuck up your autistic fucking neckbeard.

First or all, post proof
Second of all, stuff it all into dividend stocks like IBM

Live off the dividends and enjoy your boomer life

Invest 9,500,000

500,000 bank

Nice apartment or something. Make that 100 million. You got this

>Conservatively invested, you could probably have a cashflow of $360k a year from a $9 million investment
this. Just put your money in a safe fund that will generate 3% return per year. Then live on 300k / year. just rent furnished aps so you can change location whenever you want.

>taxes

Kek

Buy KEKcoin while you can.

short BTC 10 mil
You're earning money off ignorance from people who think they will get free money

The rich do not pay taxes. Look it up, there is some kind of loophole that allows you to pay 1% in taxes. Or you move to countries with no tax, move it all offshore,...

The rich never pay taxes user. Nor do the poor (sine they have no money) Only the middleclass does. Welcome to life.

Pump the ever living fuck out of LTC at 4pm eastern time tomorrow

what did you sell?!?!?!?!

rich dad poor dad

i suggest you read it

dude. don't waste $1 mil on a massive house in a reflated housing bubble.

buy something small and conservative to start.

or live in an RV and avoid property taxes before finding something more permanent.

NMR?

>millionaire
>live in RV
never change biz

Here's the only advice you should take from Veeky Forums: don't take advice from Veeky Forums
If this isn't a larp and you legit have 10 million - first, pay your taxes on it (about 4 million). Then, go to a financial planner and have them invest it for you. They can get you 4-8% passive income per year (so, minimum 240k per year). Use that to live on, never spend the principle. Any loan you can get for less than 4% interest, do it. Get a loan for your house and just pay the mortgage because your rate will be less than what you earn on your money. Same with a car.

Don't blow any money on ANYTHING until you talk to a financial advisor.

Also know financial advisors will be looking to make money off of your money. Always ask yourself, what is in it for this guy. Heck ask him the question if he doesnt come up with a believable answer get another one.

Second whatever you end up doing dont go from 10 mil in cash to ten mil in investments the next day. Spread your buys out over something like a two year period. Your pro advisor is probably not gonna like this though.

How can you have made that much money and then ask such a question on here of all places? Just plan how you're gonna invest your money and then decide on how much you're willing to take away (sacrifice) to enjoy life. Don't create too much overhead. I'd first rent some place in the area I would like to buy a house in and set up my financial future. Then buy with no more than 15-20% when I have a concrete outlook and see profits. And no cars more expensive than a decent Porsche.

>How would 1 mil be for a house?

Totally depends where you are in the country. In the greater SF Bay area that'll barely get you a 2 bedroom home. In SF itself it'll get you a large broom closet. In the Nashville area it'll get you a solid 6,000 foot 5 bedroom mansion.

Depending on how you want to live though all those things could work- if you've got the small place you just outsource your fun and eat a nice restaurants and do fun stuff in the city that you'd otherwise try and do in-house in suburbia.

sir, invest in Espers on yobit, you will double money!

READ THE INVESTMENT BOOKS, your knowledge seriously needs to catch up to your net worth! People who build that kind of net worth themselves learne a shit ton, you need to get on some podcasts, books, other media. Be around other rich people NETWORK with some RE investors or something of the like. Also enjoy a little but you need to be careful, its very easy to lose that money from your position.

BUY HOUSES, THEN AIRBNB

>$10 million
seriously what the fuck is wrong with America?
do you say "i just made dollar ten millions"?
NO, you fucking say "i just made ten million dollars" so WHY THE FUCK you cannot write "10 million $"?
Even worse with recipes, 5 cups, 1 spoon, 4 fucking teaspoons
WHAT THE FUCK? A small cup? A large cup? A spoon with pic related sugar or just at the same height of its border?
WHAT THE FUCK IS WRONG WITH YOU

real estates are the best investment btw, buy houses in good touristic locations and then make them a b&b or a vacation house, depending on the location and on the pricing

buy a huge marble mansion in newyyrk city, a fleet of lambos, 50 full time 'maids' and cases of 25yr old cristal for theeeee athtub. also a chest full of rolexes and a closet full of louis vuiton pants. youll need gucci sneaker by the dozen and also 10ct emeralds finger some 24kt plated guns and a sick virtual reality room with quantum computers. if you still are rich after that buy a submarine and a g5 jet

Consumerism slave. Have a frugal life op, and make investments that will make passive income and live by that. It would be really great traveling the world, reading all the books that you want. 1 million i would retire...couldn't imagine 10, omg

hey

Go to Vanguard
Transfer all your money there
Put it in Index funds
20% low risk, 30% medium risk, 50% high risk (the risk is a joke, there is none)

At 1% a year you'd see 100K
You'll likely see 6-8% a year

You don't need to put it all in there, if you want a house, you can get one (don't go too expensive, also you can move now that you are retired)
If you move, consider moving to a state with no dividends tax (Florida or Texas is your best bet) but you don't have to since you'll already be generating enough to live like a fat cat

Congratulations OP. You do this 1 stupidly simple thing and you've retired with a fat salary each year to spend on anything you want.
get a prenup that sets some money aside based on years together if she tries to milk you. Don't faunt the fact you have millions too obviously.

Fucking exactly

>How many feet is in a mile
Don't fucking know
>how many meters are in a Kilometer
Kilo=1000, so 1000

How can people hate metric?
It's 10 finger math, and scales linearly
Stupidly simple

OP don't be retarded
Just put it in an Index fund and enjoy 6-8% gains every year
I'm at 6.5% this year already

You're not an investor if you're coming here for advice
Just let the professionals do the work for you (which is do nothing because index funds just track the market)

Spend at MOST $1Million on a house. I would say $750K and then upgrade it in 2 years if you think you want more. You'd have enough after 2 years of gains to buy a 1M house free

Actual good advice on Veeky Forums? I am shocked.

That's not true. Real estate is like any other volatile investment. You buy low and sell high. The thing is, real estate dips only happen every seven or eight years.

This strategy is literally what I'm working towards.
Unfortunately I estimate if I live like a chump, I'd reach the goal in 25 years~
A little long for my taste, but it's hard when you only make 137K a year
And that's a goal of 2M$

I gotta do something to get rich quick. If I had a dev team to work with, I'd code something, but solo working ain't easy.

dont listen to poor losers like me. go big or move in with your mom. you NEED to be the admiral of your submarine wearing 10000 dollar pants and rolexes on both wrissts. If you dont buy at LEAST 5 lambos your a damned cheapskate. You need to look at flloyd and put a mil cash on the dash of your submarine and lambos everywhere you go.OF course your a cuck if you dont buy a castle that you never go to but just brag to your 'maids'. 10mil in a day? You can do better user you can pull 100mil a week and upgrade your fleet with platinum wrap on EVERYTHING. If you arent at the boat show this weekend putting a 5milon down payment for a 300ft yacht , your a pussy and you deserve to lNse it all to jews stock scams

Oh look its the faggot who likes llbean and lesbian romantic comedy movies. Get a clue fuckchoy, cause you aint getting a goldwrapped submarine with a champangne bath from sexy maids with a shit attitude like that

>My first thought was to buy a house.

To live in yes...

To renovate? Are you or do you know contractors/renovators. Probably not... Real estate fees when you buy the house (maybe not on your end but you're paying) Real estate fees when you sell. Sound like something you know about?

To rent? What if the house price falls and you're rental income just becomes a headache in an attempt to break even. Ever dealt with problem tenants who have nothing better to do that pester you 24/7 while not paying rent and destroying your property? Think you can just but a self managing portfolio of 10 flats and make a profit... Why would they be sold in the first place if they're such a good investment.

If you like where you live I'd maybe buy a house there, if it's your home town and you have family it might be a good idea. But I wouldn't just outright move somewhere you've always wanted to move to... You might not enjoy it as much as you thought. If you want to try living somewhere else you'd be better off renting for a year or two to to see if you even like the place.

I was wealthy once. I hire kpmg to do wealth management. they charge 1pct cut out the 5pct you get in return if you are EXTREMELY lucky. then the jews all laugh like a fisherman with a giant marlin and they steal IT ALL. Enjoy your money cause if you invest it ITS ALL GONE. They will smell your stupidity before you get out of the elevator. ENJOY YOUR MONEY DO NOT GIVE IT TO JEWS

>muh base 10

Grow up and learn to use hexadecimal, you child.

In case you're still confused, it's typed like that because it requires fewer characters.

You'll find that most changes that occur between "standard" and "American" English and notation are simply to save space and time with typesetting, which can actually be pretty important depending on what you're doing.

For example, a common thing that people get triggered about is how in America we write dates in a month day year notation instead of day month year. What they fail to consider is that it takes the same amount of characters to write in shorthand, however it is shorter to write "July 31st, 2017" than it is to write "The 31st of July, 2017"

In the same vein it requires fewer characters to write "$10 million" than it does to write "10 million $"

I could get into why condensing information like that is super efficient, but I'm sure you would be able to figure it out if you only took a moment to stop and think about it.

Also, a measuring cup is 8oz, a "spoon" or tablespoon is ~15ml, and a teaspoon is ~5ml. You fill them to the brim and make sure they're leveled off. You can very cheaply buy plastic or metal cups/spoons that have these measurements clearly labeled, which makes them very convenient to use in baking.

I'm convinced that I'm responding to pasta here, but I have literally nothing better to do right now.