How to spend it
Discussion
If he's got £10 mill plus then good luck to you mate.
I'd be looking to follow my interests initially, so maybe angel investing in start ups that take your fancy, dabbling in areas that you've not had experience of before (property, finance, law, computers, etc.).
Obviously make sure your dependents are sorted and you maximise your chances of staying healthy.
Basically the world is you lobster.
Enjoy.
I'd be looking to follow my interests initially, so maybe angel investing in start ups that take your fancy, dabbling in areas that you've not had experience of before (property, finance, law, computers, etc.).
Obviously make sure your dependents are sorted and you maximise your chances of staying healthy.
Basically the world is you lobster.
Enjoy.
SpartacusF said:
eight figures (GBP), grown-up offspring, and divorcing (equitably!).
Well you can't take it with you. You need to be spending at least £100k per week. This week, take a day off the spending and buy me this.
https://www.pistonheads.com/buy/listing/11704353
I'll pm my address.
Pit Pony said:
SpartacusF said:
eight figures (GBP), grown-up offspring, and divorcing (equitably!).
Well you can't take it with you. You need to be spending at least £100k per week. This week, take a day off the spending and buy me this.
https://www.pistonheads.com/buy/listing/11704353
I'll pm my address.
You pm me then.
Pit Pony said:
Explain. Has your wife died and left you a fortune? Did you divorce your wife 3 days before both your lottery tickets came in on a roll over?
Did you retire? Come on how is this possible?
I suspect it's a lot more boring than that.Did you retire? Come on how is this possible?
Work in a specialised but growing industry... ascend to management level... roll your equity in the company for a couple of turns through PE sponsors / IPO. Cash out when you have enough / don't have the energy to sign up for a another five years. Trouser 10+ million quid.
SpartacusF said:
OK this is first world problem and I'm not looking for sympathy or admiration. After three decades of a dutiful life, working (too) hard, being a decent husband and dad, all of a sudden I'm about to have a lot more money, and a lot more time. And be a lot more single.
Sure, I have hobbies, including PH, that lapsed for the past 20 years which I'll take up again, but I'd be interested in leftfield responses to the question of how to spend it when time and money are no longer limited.
In no particular order - Sure, I have hobbies, including PH, that lapsed for the past 20 years which I'll take up again, but I'd be interested in leftfield responses to the question of how to spend it when time and money are no longer limited.
What makes you tick? What really does it for you? Use the money to indulge in that.
What about that thing (or things) you've always fancied trying, but didn't have the chance? Here's the opportunity.
Is there something you'd like to be good at? Use the time and money to get good at it!
Do you personally know people who could do with some money? Give them some, anonymously.
Can you think of someone's life you could easily change? Do that.
With a lot of time, and a lot of money, your only real limits are your imagination - ill health aside.
I like this idea:
GT3Manthey said:
Spend a year following the Barmy Army wouldn't be the worst idea..........If you like cricket and all that
Then buy a nice town house in a windy(sp?) narrow street in a bustling French or Italian old town/city and enjoy drinking vino and eating nice food in the warm evenings, whilst thinking about what i'd like to do next.NickCQ said:
Pit Pony said:
Explain. Has your wife died and left you a fortune? Did you divorce your wife 3 days before both your lottery tickets came in on a roll over?
Did you retire? Come on how is this possible?
I suspect it's a lot more boring than that.Did you retire? Come on how is this possible?
Work in a specialised but growing industry... ascend to management level... roll your equity in the company for a couple of turns through PE sponsors / IPO. Cash out when you have enough / don't have the energy to sign up for a another five years. Trouser 10+ million quid.
NickCQ said:
Caddyshack said:
Many simple solutions. A lot of people make £10m +. Could be as simple as a family home in Pimlico being sold and split 50/50.
Doubt there are many £20m houses in Pimlico. Belgravia yes, Pimlico no.Firstly, nice job!!
I've seen several people close to me go through liquidity events such as this (both smaller, and larger amounts) and I see it really coming down to a handful of different things:
1. Do you mind the possibility of needing to work in the future? If you have decided you are never going to work again, you'll want to take a more conservative approach both with your investments and your spending. On the other hand, if you're happy to go back into work in the future, you may be more willing to risk it all on an investment of some sort with the hope of a much larger return.
2. What to do with children? Do you want to leave a substantial legacy when you die/do you want to give them a substantial amount of money so you can see them enjoying it/do you want to leave them a little/do you want to leave them nothing? Again this will dictate your investment and spending pattern...not to mention IHT planning.
3. Work out your budget - it's remarkably easy to blow through large sums of money. Hello lotto winners! You'll find you get tempted by things you never would have considered...just because the $$$ are there (I have personal experience here). One of the people I admire the most with their lifestyle post-sale will change their schedule to dates where business/first is a good deal...despite being able to buy the plane. Obviously a budget can be changed to suit your wants (note, wants not needs) however having a plan (and sticking to it) of how much you're going to spend each month and roughly where it's going will actually give you freedom to spend and knowing your long term financial goals will be ok as you won't impulse a private jet or a handful of foreign homes etc.
At the end of the day, you can do the same 3 things with your money like everyone else...just with more zeros. Give it, save it or spend it. Don't let anyone tell you what to do with your money - including your kiddos!
Oh, and please don't hang around with people who are impressed by your money. It's not a good look for them or for you!
I've seen several people close to me go through liquidity events such as this (both smaller, and larger amounts) and I see it really coming down to a handful of different things:
1. Do you mind the possibility of needing to work in the future? If you have decided you are never going to work again, you'll want to take a more conservative approach both with your investments and your spending. On the other hand, if you're happy to go back into work in the future, you may be more willing to risk it all on an investment of some sort with the hope of a much larger return.
2. What to do with children? Do you want to leave a substantial legacy when you die/do you want to give them a substantial amount of money so you can see them enjoying it/do you want to leave them a little/do you want to leave them nothing? Again this will dictate your investment and spending pattern...not to mention IHT planning.
3. Work out your budget - it's remarkably easy to blow through large sums of money. Hello lotto winners! You'll find you get tempted by things you never would have considered...just because the $$$ are there (I have personal experience here). One of the people I admire the most with their lifestyle post-sale will change their schedule to dates where business/first is a good deal...despite being able to buy the plane. Obviously a budget can be changed to suit your wants (note, wants not needs) however having a plan (and sticking to it) of how much you're going to spend each month and roughly where it's going will actually give you freedom to spend and knowing your long term financial goals will be ok as you won't impulse a private jet or a handful of foreign homes etc.
At the end of the day, you can do the same 3 things with your money like everyone else...just with more zeros. Give it, save it or spend it. Don't let anyone tell you what to do with your money - including your kiddos!
Oh, and please don't hang around with people who are impressed by your money. It's not a good look for them or for you!
GT3Manthey said:
Was just wondering if there was any need for the OP to mention "8 figures"....if you have enough you know you have enough .
Anyhow good luck to him. Hope the impending divorce doesn't scupper plans
Because a couple had asked and see the original post. The divorce has been on hold over C-19 but was always semi-amicable and I wouldn't hide any of the assets, that's a bit of a rubbish way to wind up 30+ years.Anyhow good luck to him. Hope the impending divorce doesn't scupper plans
NickCQ said:
I suspect it's a lot more boring than that. Work in a specialised but growing industry... ascend to management level... roll your equity in the company for a couple of turns through PE sponsors / IPO. Cash out when you have enough / don't have the energy to sign up for a another five years. Trouser 10+ million quid.
Very close.The Moose said:
Firstly, nice job!!
I've seen several people close to me go through liquidity events such as this (both smaller, and larger amounts) and I see it really coming down to a handful of different things:
1. Do you mind the possibility of needing to work in the future? If you have decided you are never going to work again, you'll want to take a more conservative approach both with your investments and your spending. On the other hand, if you're happy to go back into work in the future, you may be more willing to risk it all on an investment of some sort with the hope of a much larger return.
2. What to do with children? Do you want to leave a substantial legacy when you die/do you want to give them a substantial amount of money so you can see them enjoying it/do you want to leave them a little/do you want to leave them nothing? Again this will dictate your investment and spending pattern...not to mention IHT planning.
3. Work out your budget - it's remarkably easy to blow through large sums of money. Hello lotto winners! You'll find you get tempted by things you never would have considered...just because the $$$ are there (I have personal experience here). One of the people I admire the most with their lifestyle post-sale will change their schedule to dates where business/first is a good deal...despite being able to buy the plane. Obviously a budget can be changed to suit your wants (note, wants not needs) however having a plan (and sticking to it) of how much you're going to spend each month and roughly where it's going will actually give you freedom to spend and knowing your long term financial goals will be ok as you won't impulse a private jet or a handful of foreign homes etc.
At the end of the day, you can do the same 3 things with your money like everyone else...just with more zeros. Give it, save it or spend it. Don't let anyone tell you what to do with your money - including your kiddos!
Oh, and please don't hang around with people who are impressed by your money. It's not a good look for them or for you!
1. I don't need to work but do like it. I have another couple of ideas related to my first, successful, start-up, just I'll do it differently. Gamble what I have? No, probably not. Without a nudge I would probably keep working, some of these ideas could be that nudge. I think that's what I am looking for.I've seen several people close to me go through liquidity events such as this (both smaller, and larger amounts) and I see it really coming down to a handful of different things:
1. Do you mind the possibility of needing to work in the future? If you have decided you are never going to work again, you'll want to take a more conservative approach both with your investments and your spending. On the other hand, if you're happy to go back into work in the future, you may be more willing to risk it all on an investment of some sort with the hope of a much larger return.
2. What to do with children? Do you want to leave a substantial legacy when you die/do you want to give them a substantial amount of money so you can see them enjoying it/do you want to leave them a little/do you want to leave them nothing? Again this will dictate your investment and spending pattern...not to mention IHT planning.
3. Work out your budget - it's remarkably easy to blow through large sums of money. Hello lotto winners! You'll find you get tempted by things you never would have considered...just because the $$$ are there (I have personal experience here). One of the people I admire the most with their lifestyle post-sale will change their schedule to dates where business/first is a good deal...despite being able to buy the plane. Obviously a budget can be changed to suit your wants (note, wants not needs) however having a plan (and sticking to it) of how much you're going to spend each month and roughly where it's going will actually give you freedom to spend and knowing your long term financial goals will be ok as you won't impulse a private jet or a handful of foreign homes etc.
At the end of the day, you can do the same 3 things with your money like everyone else...just with more zeros. Give it, save it or spend it. Don't let anyone tell you what to do with your money - including your kiddos!
Oh, and please don't hang around with people who are impressed by your money. It's not a good look for them or for you!
2. I'll help but not set them up for life - fatally demotivating.
3. A plan is a good idea, at least I'll know what is spare and I can safely pass elsewhere.
And to your last point, talking about what you've got is not cool, and I can't even share much of this with my equally alpha chums. I don't know what the impact will be on future lady friends, but again my instinct is to be discrete. I'll leave the Aston round the corner.
Fair enough OP good luck for the future.
Can I ask what was the failings of your marriage ? It’s not often you hear of a couple making it work for 30 years and bringing up kids then calling it a day .
I’d not want in my now 50’a to be back on the dating scene again. Actually I know I’d not be bothered with it all.
Also I’m assuming there has been an equal cash split with the wife ?
Can I ask what was the failings of your marriage ? It’s not often you hear of a couple making it work for 30 years and bringing up kids then calling it a day .
I’d not want in my now 50’a to be back on the dating scene again. Actually I know I’d not be bothered with it all.
Also I’m assuming there has been an equal cash split with the wife ?
GT3Manthey said:
Fair enough OP good luck for the future.
Can I ask what was the failings of your marriage ? It’s not often you hear of a couple making it work for 30 years and bringing up kids then calling it a day .
You said this earlier in the thread and I was surprised. I have heard of quite a few couples who have remained together for the children, either consciously or otherwise. Either the children reaching adulthood and moving out has been the trigger point to then decide to part ways, or the absence of the children occupying their home time has suddenly become apparent and the two parents realising they have nothing in common with the children gone. Can I ask what was the failings of your marriage ? It’s not often you hear of a couple making it work for 30 years and bringing up kids then calling it a day .
Certainly far from unusual from what I have seen.
SpartacusF said:
And to your last point, talking about what you've got is not cool, and I can't even share much of this with my equally alpha chums. I don't know what the impact will be on future lady friends, but again my instinct is to be discrete. I'll leave the Aston round the corner.
I am sorry, this is just a British thing. Well done to you and enjoy it in ways you couldn't have before. Then work on a business/consult as you enjoy it / enjoy your hobbies. Sounds like you have a lot to offer in business mentorship / coaching?
StevieBee said:
SpartacusF said:
interested in leftfield responses to the question of how to spend it when time and money are no longer limited.
Travel.I don't mean a five star all-inclusive somewhere nice.
I'm talking proper travel to the sort of places you've never heard of and wouldn't have dreamt of ever going. Get in and amongst the local communities and allow travel to broaden your horizons.
If you don't want to just look, sign up with one of the many charities, development agencies for voluntary work.
It's properly interesting and rewarding beyond anything you can buy that requires being driven, plugged in or worn.
No fun sleeping on the ground and stting in a hole you've dug yourself once you're past 30
Shnozz said:
You said this earlier in the thread and I was surprised. I have heard of quite a few couples who have remained together for the children, either consciously or otherwise. Either the children reaching adulthood and moving out has been the trigger point to then decide to part ways, or the absence of the children occupying their home time has suddenly become apparent and the two parents realising they have nothing in common with the children gone.
Certainly far from unusual from what I have seen.
Are you talking from actual experience ? Certainly far from unusual from what I have seen.
GT3Manthey said:
Are you talking from actual experience ?
I am not. I have no children. That's not to say I haven't witnessed it, however. Some of my friends with grown up children have prospered when the kids have flown the nest. Almost returned to (sickening ) childhood sweethearts and off on holidays again, weekend breaks and back to "them" time. Others have found that in that intervening 20 years they have grown apart and the kids have been the cement. Taken away, they have nothing in common. I don't think its unique.Gassing Station | The Lounge | Top of Page | What's New | My Stuff