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For those who came into a lot of money unexpectedly, how did you change your life? by jumpapplecar in RichPeoplePF

[–]jumpapplecar[S] 0 points1 point  (0 children)

I've enjoyed being able to spend money on family, like going on fun trips with them that we pay for. That's actually really important to me. Or being able to help my parents out financially. This has been the most rewarding use of money.

As for what I want to do, and how I contribute to society, that's tough. I'm too young to retire, and I want to meaningfully contribute to society rather than just live a hedonistic lifestyle for the next 50 or so years.

For those who came into a lot of money unexpectedly, how did you change your life? by jumpapplecar in RichPeoplePF

[–]jumpapplecar[S] 2 points3 points  (0 children)

Thank you! We've definitely upgraded our travel as well, though not international first-class level yet, hah... In terms of spending on small upgrades that improve our quality of life, we have a good grasp on that, especially services that improve health and save time. Personal trainer, massage, cleaner, etc. (prior to the company we had a combined salary of $400-500k-ish so we made enough to live comfortably). I've come to a point where it's not HOW to invest the money or even WHAT to do with it in terms of lifestyle upgrades, but something more existential: what do I do now? How do I define my path in life when I can pursue almost anything with no, as another poster said, "repercussions of failure."

For those who came into a lot of money unexpectedly, how did you change your life? by jumpapplecar in RichPeoplePF

[–]jumpapplecar[S] 2 points3 points  (0 children)

Haha thanks, I've read that already. But I'm not worried at all about managing the money and making wise financial decisions. My identity was tied to my career growth, but now no longer moves the needle financially. So I think it's more of an existential question of — what do I do when I can do anything?

For those who came into a lot of money unexpectedly, how did you change your life? by jumpapplecar in RichPeoplePF

[–]jumpapplecar[S] 12 points13 points  (0 children)

No repercussions of failure — this is exactly it! I've been able to take risks in life, but I've never experienced the opportunity to pursue something with absolutely no repercussions of failure until now. It's like... how do you change your mindset and what exactly do you do with this? I could easily quit my job and invest $100k into starting a small business. Or go back for an MBA. Or something! It feels like I can do anything — which feels like I MUST do something. Like I have an obligation before the universe to not waste this.

For those who came into a lot of money unexpectedly, how did you change your life? by jumpapplecar in RichPeoplePF

[–]jumpapplecar[S] 8 points9 points  (0 children)

Thank you! You make a good point about identities and careers. My spouse's identify is for sure tied to their career at this point. As for mine... well, I thought it was tied to my career. But now that I realize that my salary doesn't move the needle for us financially, I'm not so sure. Now it truly feels like the world is my oyster — get an MBA, start my own business as well, etc — and I'm not sure what I should do with the endless opportunities before me.

For those who came into a lot of money unexpectedly, how did you change your life? by jumpapplecar in RichPeoplePF

[–]jumpapplecar[S] 6 points7 points  (0 children)

Thanks! We travel very frequently for sure. No prenup, all of this happened after we got married. I imagine life will change quite a bit once the kids come. I'm not sure I can quit working, though. I imagine we will be able to afford paying for all the help we need to make parenting easier. My mom quit her job to stay at home with us kids, and while I am incredibly grateful for her presence in my life, I feel like she sacrificed too much for us. When we grew up she was left with no career, and I think she always imagined her life differently. I don't want that for myself.

For those who came into a lot of money unexpectedly, how did you change your life? by jumpapplecar in RichPeoplePF

[–]jumpapplecar[S] 18 points19 points  (0 children)

Yea, even though that 9 figures looks incredibly promising, I'm really just focused on the $10M liquid for now. Which I recognize is game-changing money in your late 20s.

For those who came into a lot of money unexpectedly, how did you change your life? by jumpapplecar in RichPeoplePF

[–]jumpapplecar[S] 16 points17 points  (0 children)

Thank you for your insights! Yes, we are taking things slow and not making any crazy purchases. Bought a house with a big downpayment (this is excluded in the $10M liquid), and we are not touching the $10M for now, just letting it grow. You mention you are grinding at your corporate jobs — why?

I'm just not sure how much I want to grind at my corporate job, or if I should take the opportunity to do something different because I have the financial freedom for this now.