5 ms·

The thing that concerns me is that "I do not think I have any real hobbies." I suggest continuing to work, but perhaps being pickier about where you work. Per

The thing that concerns me is that "I do not think I have any real hobbies." I suggest continuing to work, but perhaps being pickier about where you work. Perhaps there's a dream job you've always wanted to do that up until now wasn't feasible because it doesn't pay enough, like fireman, park ranger, teacher, musician, etc? The key here is to have an obligation (people depend on you) and social interaction. Also, see if maybe you can develop some hobbies. It can be as simple as hiking or collecting stamps. Preferably one that has a social aspect so you have human interaction. You're going to need, at the bare minimum, a passion project to keep you engaged. Sometimes, retiring early is the worst thing to happen to a person. Make sure you know well in advance how you're going to fill your days. Because having a bunch of empty days in your immediate future can be very detrimental to your mental health. Good luck!

Phenomenit 8y ago
"Also, see if maybe you can develop some hobbies. It can be as simple as hiking or collecting stamps. Preferably one that has a social aspect so you have human interaction." I would avoid material intensive Hobbies where you can buy accomplishment. Unfortunately I am not in a similar situation but if I was I would try to maybe put some effort in to being healthy and not just focusing on beeing stimulated constantly. You can afford taking it slow, give it a try.
- ericcholis 8y ago
  Agreed, it's super easy to pick up a material hobby (like collecting something). Instead, I'd pick up a working hobby. Let's say you really enjoy volunteer work. I'm sure there's a ton of good not-for-profits that need an experienced project manager. Money can't buy happiness. Money can free up your time to explore enriching endeavours. A windfall should be a gateway to really explore what the world has to offer without limitations. My top things that I would do in this situation: - Make sure my debts are paid, and ensure long term stable income - 1 hour minimum workout every day - Be outside as much as possible - Learn new applicable skills (home or auto repair, woodworking, music, etc...) - Possibly go back to school - Play video games - Read more These are all things that I try to do now, but don't have the time because of work or debt.
  - dlhavema 8y ago
    - Make sure my debts are paid, and ensure long term stable income Totally. No need to carry a car loan, mortgage, Credit card debt anything anymore.
    - seansmccullough 8y ago
      Depending on the mortgage rate, it might be better to keep it and invest the money that would have been used to pay off the mortgage instead.
      - zaccus 8y ago
        Nah, once you've got 8MM in the bank there's no point worrying about maximizing returns. You've already won. Keep it simple, pay off the house, enjoy life.
        Consultant32452 8y ago
        This is exactly right. Mortgage/debt represents risk. Many people do the math on potential returns, but calculate risk as $0, which it definitely is not. I think it helps to consider this transaction in reverse. If you had a paid for house would you mortgage it so you could put that money into an investment account at Schwab? Almost certainly not.
        samstave 8y ago
        If you pay off your house, shouldnt you also set aside ~10 years of annual property tax + X%/year for upgrades/fix/whatever - such that you literally do not have to think of a house expense for a decade. Add in a lump sum for the monthly utilities for a decade and make a house account. Have the house account pay all these other incidentals from that account which you otherwise ignore. Then, anytime you look at your bank account, the future costs of living in that home are never reflected in the balance you see in your daily account(s)
    - 8y ago
cies 8y ago
I felt the same. Hobbies, especially the ones that promote health or fitness (like some cool sports) would be something I'd clearly look out for. On top of that I'd be very keen to invest in health of both yourself and your family. Dead people do not enjoy wealth, and while the sick sometimes need money to fix themselves up one can argue they do not really enjoy it. Some doctors may help you with a proper preventive plan that involves some recurring tests, I'd certainly invest in that. You may need a few, like: an MD, a holistic doctor and a nutritionist. Then investigate what it takes to "live healthy" for you. Food (more raw organic produce), exercise/sports (yoga, running, cycling, gym, climbing/bouldering, kite surfing), some spiritual practice (meditation, breathing techniques, some philanthropy). This all can bring a person years of healthy life. If your are not hung up on the location to live, you may want to explore some over the years. Having 2 places to call your home is well within reach. Then if you are into it, you can build, or remodel a place to your interests: a hobby in itself.
pppaaauuulll 8y ago
For you or anyone else who is looking for hobbies, there is an enormous universe of amazing projects that desperately need volunteers with modest levels of skill. I run a small science fiction magazine with some friends and we're always looking for support to help this project grow. What we need most is volunteers who can commit enough time to learn the ropes and move the project forward - it's hard to find anyone who can commit more than an hour or two a week. Pick literally anything that you are interested in, and there's likely a community of people trying to do interesting things in that field. All you have to do is reach out! So, go get 'em. You have the freedom to chose what you do with your time, but that freedom could become crippling if you don't fill it with something that you find meaningful/fulfilling.
disease 8y ago
It can be equally detrimental to your physical health as well.

Phenomenit 8y ago

"Also, see if maybe you can develop some hobbies. It can be as simple as hiking or collecting stamps. Preferably one that has a social aspect so you have human interaction." I would avoid material intensive Hobbies where you can buy accomplishment. Unfortunately I am not in a similar situation but if I was I would try to maybe put some effort in to being healthy and not just focusing on beeing stimulated constantly. You can afford taking it slow, give it a try.

ericcholis 8y ago
Agreed, it's super easy to pick up a material hobby (like collecting something). Instead, I'd pick up a working hobby. Let's say you really enjoy volunteer work. I'm sure there's a ton of good not-for-profits that need an experienced project manager. Money can't buy happiness. Money can free up your time to explore enriching endeavours. A windfall should be a gateway to really explore what the world has to offer without limitations. My top things that I would do in this situation: - Make sure my debts are paid, and ensure long term stable income - 1 hour minimum workout every day - Be outside as much as possible - Learn new applicable skills (home or auto repair, woodworking, music, etc...) - Possibly go back to school - Play video games - Read more These are all things that I try to do now, but don't have the time because of work or debt.
- dlhavema 8y ago
  - Make sure my debts are paid, and ensure long term stable income Totally. No need to carry a car loan, mortgage, Credit card debt anything anymore.
  - seansmccullough 8y ago
    Depending on the mortgage rate, it might be better to keep it and invest the money that would have been used to pay off the mortgage instead.
    - zaccus 8y ago
      Nah, once you've got 8MM in the bank there's no point worrying about maximizing returns. You've already won. Keep it simple, pay off the house, enjoy life.
      - Consultant32452 8y ago
        This is exactly right. Mortgage/debt represents risk. Many people do the math on potential returns, but calculate risk as $0, which it definitely is not. I think it helps to consider this transaction in reverse. If you had a paid for house would you mortgage it so you could put that money into an investment account at Schwab? Almost certainly not.
        samstave 8y ago
        If you pay off your house, shouldnt you also set aside ~10 years of annual property tax + X%/year for upgrades/fix/whatever - such that you literally do not have to think of a house expense for a decade. Add in a lump sum for the monthly utilities for a decade and make a house account. Have the house account pay all these other incidentals from that account which you otherwise ignore. Then, anytime you look at your bank account, the future costs of living in that home are never reflected in the balance you see in your daily account(s)
  - 8y ago

cies 8y ago

I felt the same. Hobbies, especially the ones that promote health or fitness (like some cool sports) would be something I'd clearly look out for. On top of that I'd be very keen to invest in health of both yourself and your family. Dead people do not enjoy wealth, and while the sick sometimes need money to fix themselves up one can argue they do not really enjoy it. Some doctors may help you with a proper preventive plan that involves some recurring tests, I'd certainly invest in that. You may need a few, like: an MD, a holistic doctor and a nutritionist. Then investigate what it takes to "live healthy" for you. Food (more raw organic produce), exercise/sports (yoga, running, cycling, gym, climbing/bouldering, kite surfing), some spiritual practice (meditation, breathing techniques, some philanthropy). This all can bring a person years of healthy life. If your are not hung up on the location to live, you may want to explore some over the years. Having 2 places to call your home is well within reach. Then if you are into it, you can build, or remodel a place to your interests: a hobby in itself.

pppaaauuulll 8y ago

For you or anyone else who is looking for hobbies, there is an enormous universe of amazing projects that desperately need volunteers with modest levels of skill. I run a small science fiction magazine with some friends and we're always looking for support to help this project grow. What we need most is volunteers who can commit enough time to learn the ropes and move the project forward - it's hard to find anyone who can commit more than an hour or two a week. Pick literally anything that you are interested in, and there's likely a community of people trying to do interesting things in that field. All you have to do is reach out! So, go get 'em. You have the freedom to chose what you do with your time, but that freedom could become crippling if you don't fill it with something that you find meaningful/fulfilling.

disease 8y ago

It can be equally detrimental to your physical health as well.