How to spend it
Discussion
People are jealous unfortunately, and not in a nice way. I think its a British thing perhaps. Like the British people see someone in a ferrari and say they must have a small dick, same happens in italy but they get clapped. Or so i hear.
I see someone doing well and im jealous, but in a way where i wish i was them
those that genuinely do it off their own back im intrigued as to their story. If you are prepared to get up and go to work its easy to make a living but the steps after that are the hard ones!
You only get one life and if you can live that to the max then good luck to you. Im 40, working myself into the ground but realising i may never get there but you know what i keep on trying and maybe this time next year hey rodders
I see someone doing well and im jealous, but in a way where i wish i was them
those that genuinely do it off their own back im intrigued as to their story. If you are prepared to get up and go to work its easy to make a living but the steps after that are the hard ones!
You only get one life and if you can live that to the max then good luck to you. Im 40, working myself into the ground but realising i may never get there but you know what i keep on trying and maybe this time next year hey rodders
Don1 said:
OP, I'm sure you know this, but the brain is a muscle. Use it or lose it. Travel, go to evert continent and see as many wonders as possible. Swim with wild dolphins. Drive route 66. Experience things before it's too late. Enjoy!
Or buy your own dolphin and keep it in the swimming pool, I guarantee chics will come home from the pub to stroke the dolphin.dmahon said:
This is the thing. Wife and kids accelerate the spending and make it harder to do the fun things like F1 tours and shipping the Ferrari collection internationally. I’d be living like an international playboy if I was single. As it is I’m just about to pay the wife’s credit card bill whilst getting ready to go to the soft play then a kids party tomorrow.
Exactly. 90% of the people I know with kids and a wife are miserable, boring and keep referring to "I remember those days" when I mention something as innocuous as going to Vegas with the lads.Ironically, most of them are my age or only marginally older.
Dunno why they do it to themselves.
david-j8694 said:
dmahon said:
This is the thing. Wife and kids accelerate the spending and make it harder to do the fun things like F1 tours and shipping the Ferrari collection internationally. I’d be living like an international playboy if I was single. As it is I’m just about to pay the wife’s credit card bill whilst getting ready to go to the soft play then a kids party tomorrow.
Exactly. 90% of the people I know with kids and a wife are miserable, boring and keep referring to "I remember those days" when I mention something as innocuous as going to Vegas with the lads.Ironically, most of them are my age or only marginally older.
Dunno why they do it to themselves.
I think being single would be boring and miserable, the novelty would wear off pretty quick for me.
To answer the OP.
Life is all about people and experiences, the latter being something you experience with those people.
Find likeminded individuals, share experiences, job done.
The money is the security of, I would guess, knowing you don't have to worry about paying bills.
PS You're not from the East Coast are you? Weird that I know of someone who's in a remarkably similar position (business/wife/split etc)
When everything is open again I'd spend a year traveling to every major stop on the poker circuit (Bahamas, Las Vegas, Barcelona, Prague, Sydney, Macau, London, etc.) and play the 5k/10k main events plus some extras.
I reckon it'd cost probably half a million for the year. Excluding anything you win back.
Slightly more realistically, at some point I want to buy something like this: https://www.autotrader.co.uk/motorhome-details/202...
But obviously I'd never manage one that big. I'd then drive it all around Europe.
I reckon it'd cost probably half a million for the year. Excluding anything you win back.
Slightly more realistically, at some point I want to buy something like this: https://www.autotrader.co.uk/motorhome-details/202...
But obviously I'd never manage one that big. I'd then drive it all around Europe.
diametric123 said:
OP
I’m slightly ahead of you (cue haters to start hating...) but my thoughts:
- if you want income then your choices are capital markets, investment property or a trading business
- personally I do all three because it gives me maximum opportunity to still work but with near 100% control of my time
- depending on where you live (I’m in London) then a town place and a country / overseas place will easily consume half the capital
- after that I’m a big fan of experiences over assets
- respecting PH I would suggest 2-3 toys is more than enough, as the logistics gets complex after that. My end-game is to have just one car for each purpose (touring, going fast, Classic etc)
- travel is our big thing: have a list of 25 things to do over time and working our way through it
- fundamentally recognise the gift you’ve created for yourself and wake every day with a smile!
Thanks diametric, helpful to nail down the principal issues and choices. Like you, relieved no haters, loving the advice. I’m slightly ahead of you (cue haters to start hating...) but my thoughts:
- if you want income then your choices are capital markets, investment property or a trading business
- personally I do all three because it gives me maximum opportunity to still work but with near 100% control of my time
- depending on where you live (I’m in London) then a town place and a country / overseas place will easily consume half the capital
- after that I’m a big fan of experiences over assets
- respecting PH I would suggest 2-3 toys is more than enough, as the logistics gets complex after that. My end-game is to have just one car for each purpose (touring, going fast, Classic etc)
- travel is our big thing: have a list of 25 things to do over time and working our way through it
- fundamentally recognise the gift you’ve created for yourself and wake every day with a smile!
SCEtoAUX said:
..... powerfully built company director dominate the stairs and hammer sausages into a lawn....
Thank me later.
Priceless reminder, thank you. Printed and on the fridge door. Thank me later.
glennjamin said:
Buy Aston Martin join the member's club and travel around doing their events..
I joined the MGOC 30+ years go but couldn't deal with the 'type' and dress code. Is the AMOC just the same but with ironed slacks?NickCQ said:
If it is an IPO exit he will likely get aggressively cross-sold wealth management services by the relevant divisions of the investment banks running the book. Needless to say these pitches should be ignored!
You're not kidding. I've spoken with four, purely for the free yak time to get my own head around this stuff, and they all blow the same flattery smoke. It's been curious how they are light on the details of the costs and none are prepared to divulge how they perform vs the other private wealth (https://www.assetrisk.com/research/our-services/#indices-pci). I will pay for when-to-take-what advice, annually as tax and health and other stuff changes, but for where-to-put-it, the robo services win. As diametric says, I'll do a couple of EISs for fun/interest.dirty boy said:
Life is all about people and experiences, the latter being something you experience with those people.
Find likeminded individuals, share experiences, job done.
PS You're not from the East Coast are you? Weird that I know of someone who's in a remarkably similar position (business/wife/split etc)
This is the message that is coming though. No, not east coast US, London UK, but guess this is a pattern in baby boomers.Find likeminded individuals, share experiences, job done.
PS You're not from the East Coast are you? Weird that I know of someone who's in a remarkably similar position (business/wife/split etc)
SpartacusF said:
diametric123 said:
glennjamin said:
Buy Aston Martin join the member's club and travel around doing their events..
I joined the MGOC 30+ years go but couldn't deal with the 'type' and dress code. Is the AMOC just the same but with ironed slacks?
raceboy said:
SpartacusF said:
diametric123 said:
glennjamin said:
Buy Aston Martin join the member's club and travel around doing their events..
I joined the MGOC 30+ years go but couldn't deal with the 'type' and dress code. Is the AMOC just the same but with ironed slacks?
Here's what I would do.
Firstly, I would buy/renovate/build my ideal/dream home to use as my home base. Spare no expense on anything - plenty of bedrooms for when visitors come to stay, a nice home office/den, well-equipped kitchen, big social room/area with loads of sofas for lounging around, drinks cabinet, dedicated TV/cinema room, home gym, underfloor heating, garage/workshop, the whole shebang.
My starting point would be to find a suitable startup \accelerator and get involved as a mentor. The accelerator pre-screens the startups, so you don't have to do your own filtering. If you commit to investing at least £X0,000 in a cohort, they'll happily to add you to their roster of mentors, and you get exposure to the cohort, see how they develop over the course of the accelerator programme, hear what the accelerator staff and the other mentors think (note that doing this sort of thing can be a fun networking/social thing too), pick a few that you want to be involved in (and who value your advice), and invest in them. If you want to chat more about this, ping me an email.
Thirdly, I would look for opportunities to deploy my business acumen in the charity sector. Find a worthy non-profit that would benefit from my advice, get involved, figure out what they need to do, advise them to do it, and offer to fund it.
Finally, when travel restrictions permit, I'd be organising some fun, relaxing holidays with friends and/or family that I like to hang out with. Recruit people to do a group holiday, tell them you got a great deal on a plush ski chalet or villa, tell them that the cost is roughly the same as a regular, inexpensive holiday, then quietly cover the extra cost yourself. That way, you get to hang out with the people you want to, in comfort/luxury, but without them knowing that you're subsidising their holiday.
Firstly, I would buy/renovate/build my ideal/dream home to use as my home base. Spare no expense on anything - plenty of bedrooms for when visitors come to stay, a nice home office/den, well-equipped kitchen, big social room/area with loads of sofas for lounging around, drinks cabinet, dedicated TV/cinema room, home gym, underfloor heating, garage/workshop, the whole shebang.
SpartacusF said:
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.
Secondly, I would try my hand at active angel investing. By "active", I mean investing in a few startups that are (a) targeting sectors I'm interested and/or have experience in, and (b) would benefit from my advice/guidance. My starting point would be to find a suitable startup \accelerator and get involved as a mentor. The accelerator pre-screens the startups, so you don't have to do your own filtering. If you commit to investing at least £X0,000 in a cohort, they'll happily to add you to their roster of mentors, and you get exposure to the cohort, see how they develop over the course of the accelerator programme, hear what the accelerator staff and the other mentors think (note that doing this sort of thing can be a fun networking/social thing too), pick a few that you want to be involved in (and who value your advice), and invest in them. If you want to chat more about this, ping me an email.
Thirdly, I would look for opportunities to deploy my business acumen in the charity sector. Find a worthy non-profit that would benefit from my advice, get involved, figure out what they need to do, advise them to do it, and offer to fund it.
Finally, when travel restrictions permit, I'd be organising some fun, relaxing holidays with friends and/or family that I like to hang out with. Recruit people to do a group holiday, tell them you got a great deal on a plush ski chalet or villa, tell them that the cost is roughly the same as a regular, inexpensive holiday, then quietly cover the extra cost yourself. That way, you get to hang out with the people you want to, in comfort/luxury, but without them knowing that you're subsidising their holiday.
Above is such an awesome response imho
I have a very well to do friend who does all this type of stuff. He brought his business acumen to a food bank at the beginning of the pandemic that had distributed north of 1m meals by October 2020. Other people don't see opportunities in the same way. He was telling me that they were buying food at £33 per ton!
I have a very well to do friend who does all this type of stuff. He brought his business acumen to a food bank at the beginning of the pandemic that had distributed north of 1m meals by October 2020. Other people don't see opportunities in the same way. He was telling me that they were buying food at £33 per ton!
ben5575 said:
PistonGuy66 said:
If the OP really has worked hard and got that amount of money flopping about why would you need to ask what to do with it on here?????
Possibly because his day job as might not have anything to do with finance? Maybe because successful people understand that they don't know it all and like to seek other opinions? That he can do so on here incognito?Alternatively, it might just be a bit of fun to mull over on a sunny bank holiday weekend?
MrJuice said:
Above is such an awesome response imho
I have a very well to do friend who does all this type of stuff. He brought his business acumen to a food bank at the beginning of the pandemic that had distributed north of 1m meals by October 2020. Other people don't see opportunities in the same way. He was telling me that they were buying food at £33 per ton!
That makes me smile. I have a very well to do friend who does all this type of stuff. He brought his business acumen to a food bank at the beginning of the pandemic that had distributed north of 1m meals by October 2020. Other people don't see opportunities in the same way. He was telling me that they were buying food at £33 per ton!
Pit Pony said:
MrJuice said:
Above is such an awesome response imho
I have a very well to do friend who does all this type of stuff. He brought his business acumen to a food bank at the beginning of the pandemic that had distributed north of 1m meals by October 2020. Other people don't see opportunities in the same way. He was telling me that they were buying food at £33 per ton!
That makes me smile. I have a very well to do friend who does all this type of stuff. He brought his business acumen to a food bank at the beginning of the pandemic that had distributed north of 1m meals by October 2020. Other people don't see opportunities in the same way. He was telling me that they were buying food at £33 per ton!
OP, whatever it was you enjoyed about the business you built you could use to help others, either in the form of guidance/governance or by mentoring others.
Either would be flexible enough to fit in all the fun stuff (and I like the comment above about recognising it's a gift you've given yourself) but be a good way of keeping you grounded and giving you some fulfilment; a life spent indulging yourself might feel quite empty in time.
ben5575 said:
red_slr said:
Flight on Virgin Galactic would be smack bang at the top of my list. Maybe not your thing, but I would be on that like a fat lad on chips.
Next I would be speaking to the people at the Four Seasons. Arrange one of their special packages where you get your own jet and then fly around a few of their really nice hotels for a few months - of course including a couple of weeks on their yacht the FS Explorer which is based out of Landaa Giraavaru in the Maldives. If it were me I would bring a few mates along - just for a laugh.
After that, probably buy a few Ferraris. Toe them round Europe for a bit. Some long weekends at the 'ring burning tyres and brakes. I would also do the F1 car drive at Paul Ricard - private day (or 3) of course. No riff raff or w@nker youtubers.
Once I was bored of all that, probably head off to Japan. Take one of the rarris with me - because I can. That should keep me entertained for a year or two. Lots to do, most of weird.
I reckon the above - with a smattering of F1 races, weekends with straight 10s (not the same one of course), a few nice holidays and what not would take me 5 years and a couple of mil.
I am just £1.99M short now
See this is why I don't understand people who are bored after coming into money. There's so much to do.Next I would be speaking to the people at the Four Seasons. Arrange one of their special packages where you get your own jet and then fly around a few of their really nice hotels for a few months - of course including a couple of weeks on their yacht the FS Explorer which is based out of Landaa Giraavaru in the Maldives. If it were me I would bring a few mates along - just for a laugh.
After that, probably buy a few Ferraris. Toe them round Europe for a bit. Some long weekends at the 'ring burning tyres and brakes. I would also do the F1 car drive at Paul Ricard - private day (or 3) of course. No riff raff or w@nker youtubers.
Once I was bored of all that, probably head off to Japan. Take one of the rarris with me - because I can. That should keep me entertained for a year or two. Lots to do, most of weird.
I reckon the above - with a smattering of F1 races, weekends with straight 10s (not the same one of course), a few nice holidays and what not would take me 5 years and a couple of mil.
I am just £1.99M short now
Oh and have we had the stay the f
k away from private planes and helicopters yet? They seem particularly effective at killing rich people and their families...Gassing Station | The Lounge | Top of Page | What's New | My Stuff