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> presumably, the people who seriously have $2M to invest are not just googling how to do it If I sell my startup in a few years, it would be worth 4-10m$, and
by laurent92 5y ago
> presumably, the people who seriously have $2M to invest are not just googling how to do it
If I sell my startup in a few years, it would be worth 4-10m$, and I wonder what I might do with the money. I find it funny that you dismiss the idea of not knowing how to invest millions of dollars, but when you’ve worked all your life, you don’t have time to build a network of people who can receive your investment, and you’re not used to actually having this money outside of the startup vehicle. And given 86% of billionaires of this generation are first-generation, I wouldn’t be surprised if it were the same for millionaires. I keep hearing stories of:
- Youtubers,
- Startup founded,
- Dropshipping, but not dropshippers, just people who sell services to gullible get-rich-quick dropshippers.
- dheera 5y agoMost people that have that problem don't Google "How to invest $X million", they google for things like "best clean energy stocks" or "best index funds" or "should i buy Ethereum or Bitcoin" or "bay area financial advisors" or "angel investing getting started" etc.
- bobthepanda 5y agoYeah, I'm not saying that people who come into money are investing geniuses, but you will lose your money pretty quickly if you type in how much money you have into Google and click the first link promising a get even richer scheme.
- dorkwood 5y agoIf you get $10m aren't you, like, finished? You escaped the game. It's over. Why does investing matter anymore?
- dimnsionofsound 5y agoSo that your escape money doesn’t get eaten away by inflation. You could put it in a low-ish risk portfolio composed of some bonds, indexes, etc so that it continues to make some amount of money.
- fortran77 5y agoTaxes and inflation will kill you.
- roenxi 5y agoNah, it takes a lot of attention to keep $10 million under control. Unless you want to risk running out suddenly. Having $10 mil in a bank account somewhere is pointless. No matter what philosophy you want to apply choices must be made. Investment, consumption or hedonism. The money will quickly vanish (decade or two) if the balance is wrong or the millionaire goes all-in on indexing at the peak of some bubble.
- meristohm 5y agoInvestment, consumption, and hedonism: unless you have a broad sense of “investment”, aren’t all of those selfish? I suppose my valuing the health of an ecosystem of other lives is selfish, too. I’m writing to push for a broader sense of what it means to invest, as in increasing the carbon content of soil for the health of future life, and promoting regulation towards cleaner air and water.
- roenxi 5y agoGiving money away to worthy causes is pretty easy. But FYI I'd class that under my broad definition of hedonism. In Xanadu did Kubla Khan .... and all that.
- himlion 5y agoCrypto traders are an exception to this, they'll just keep it invested in crypto :)