3 ms·
Don’t donate it. That would be rash. You can always donate down the line once you’ve wrapped your mind around it. Depending on your lifestyle you should be abl
by whiddershins 8y ago
Don’t donate it. That would be rash. You can always donate down the line once you’ve wrapped your mind around it.
Depending on your lifestyle you should be able to basically retire. A decent rule of thumb is 4% (maybe less) income on conservative investments, so that should get you around $300,000/year in income if you just take a deep breath and learn the basics.
Lots of advice on this thread is good, definitely put it somewhere safe and get your bearings.
Also, this windfall means your kids can graduate college with no student loan debt, that’s worth something.
Definitely be chill, read all the advice, do basically nothing, read all the advice again, and start to figure out what matters to you. How do you want to live your life for the next couple of decades?
And what does your wife want? That matters, I imagine.
Edit: the implied assumption of this and many other posts here is “don’t spend your capital.” Start there. Preserve that 8million, never spend (including donate) any of it. Use it to make interest in a conservative manner which you can spend as you like. (Including donating to the needy)