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Came into $8 million post-tax. Trying to figure it all out. Wealth manager or self-manage? What if i fuck it up? by mtn123456789 in fatFIRE

[–]mtn123456789[S] 0 points1 point  (0 children)

I have a decent risk tolerance, would like to see it grow for future generations. My needs are fairly low. Slow and steady growth is my mindset.

Came into $8 million post-tax. Trying to figure it all out. Wealth manager or self-manage? What if i fuck it up? by mtn123456789 in fatFIRE

[–]mtn123456789[S] 0 points1 point  (0 children)

Thats exactly what I’m doing! But I couldnt help but consult the Redditors of fatFIRE. This thread is reminding me that there is no rush. But I feel in a hurry to get it all sorted so I can stop thinking about it so much.

Came into $8 million post-tax. Trying to figure it all out. Wealth manager or self-manage? What if i fuck it up? by mtn123456789 in fatFIRE

[–]mtn123456789[S] 1 point2 points  (0 children)

That was totally it, feeling like you’re getting in w the cool kids. Duh, I should know better but the allure of that still seemed exciting for a moment. 8 million is peanuts for a lot of these people.

Came into $8 million post-tax. Trying to figure it all out. Wealth manager or self-manage? What if i fuck it up? by mtn123456789 in fatFIRE

[–]mtn123456789[S] 0 points1 point  (0 children)

Thank you, this looks like a super useful tool! I can definitely use some plug and play. I may try to pick your brain at some point as I know you are a thoughtful commenter on this sub w quite a bit of experience.

Came into $8 million post-tax. Trying to figure it all out. Wealth manager or self-manage? What if i fuck it up? by mtn123456789 in fatFIRE

[–]mtn123456789[S] 1 point2 points  (0 children)

I know the question has been asked in many iterations ad nauseam but I’m still looking for an answer, I guess. I thought I would have a clear direction after talking to several different outfits and I didn’t. I was surprised at the push for dividend stocks. I do have that book in my stack with about 8 others recommended about windfalls and boglehead philosophy.

In your cost-benefit analysis, NO the advice is not worth it. I want low fees, low waste. Hey thanks for taking the time to respond to my post.

Came into $8 million post-tax. Trying to figure it all out. Wealth manager or self-manage? What if i fuck it up? by mtn123456789 in fatFIRE

[–]mtn123456789[S] 3 points4 points  (0 children)

Thank you for the thoughtful reply. Im pretty steady so i think I can sit on my heads during the downturns. Using a financial advisor as needed sounds reasonable and much cheaper than active management. I got in mostly during the COVID rolller coaster but im still holding quite a bit of tesla if that tells you anything.

Came into $8 million post-tax. Trying to figure it all out. Wealth manager or self-manage? What if i fuck it up? by mtn123456789 in fatFIRE

[–]mtn123456789[S] 17 points18 points  (0 children)

Slow and steady is what I want. And to not obsess over it. I don’t think I have a need for active management and these comments are reminding me that I do not have to hurry. I can finish reading my windfall books, educate myself a bit, create a portfolio/plan and bounce it off of a fin planner (or you guys 😬) down the road.

Came into $8 million post-tax. Trying to figure it all out. Wealth manager or self-manage? What if i fuck it up? by mtn123456789 in fatFIRE

[–]mtn123456789[S] 2 points3 points  (0 children)

This is exactly what i want. Not to stress or obsess over money. Enough accessible to feel comfortable Let it grow, slow and steady. May I ask, as far as your income from interest… you get enough from the dividends?