3 ms·
First - tell no one you made that much money. You'd be amazed who comes out of the wood work to "be your friend" at that age. Second - check out https://old.re
by mbesto 5y ago
First - tell no one you made that much money. You'd be amazed who comes out of the wood work to "be your friend" at that age.
Second - check out https://old.reddit.com/r/fatFIRE/ https://old.reddit.com/r/fatFIRE/ - some great like minded resources for how to manage that much net worth.
EDIT: Regarding first point. Good guide here: https://old.reddit.com/r/personalfinance/wiki/windfall https://old.reddit.com/r/personalfinance/wiki/windfall
- malux85 5y agoThis one is really important. Tell no one, or only a very very small number of people, but strong preference to no one. Look at maslows hierarchy of needs, now that your psychological and safety needs are dealt with, it’s time to move up the pyramid
- nobodyandproud 5y agoNah, tell no one. There’s no benefit to telling someone, and plenty of downsides to telling even a sibling/best-friend/parent.
- malux85 5y agoThe exception I was thinking of was carefully vetted other people wealthier than you who can act as a mentor and intro to connections
- pg_1234 5y agoThis ... tell nobody for a few years ... specifically, don't let anyone know until you have a very clear idea of how you want to live the next decade of your life.