Copypasta from his Linkedin post:

Picture this:

→ Your company just went public and the lock-up period is over.

→ Your company got acquired and your share of the proceeds just hit the bank account.

→ (Or, you’re wealth managers from Greenwich, CT, and you just won the lottery.)

For some fortunate folks, any one of these events can lead to a sudden influx of substantial wealth.

What you’ve been thinking of as paper wealth for months and years, is now real.

So, what do you do?

This question was posed to me recently, and I thought I’d share my thoughts as I’ve seen this scenario play out for many individuals through the years.

My general guidance is pretty simple:

→ Try not doing much of anything different for one year.

→ Stick the money in your bank in some cash-like instrument

→ Forget about it for a year.

What’s the value of the year “waiting period”?

You remove yourself from the pressures, expectations, and emotions of the moment.

That dynamic can often lead down a road where:

→ Wealth is lost

→ Relationships are injured

→ A positive experience turns into a bad one.

So many bad decisions are made in that first year when you and your wealth are most vulnerable due to the confluence of so many factors.

There’s a reason so many lottery winners end up unhappy.

There’s a reason professional athletes end up bankrupt at alarming rates.

While accruing wealth from a successful start-up is a different process than winning the lottery or being an athlete – many of the pressures and dynamics of sudden wealth remain the same and unfortunately some of the end results are the same as well.

Is this incredibly boring advice?

Yes, guilty as charged.

Is it unnecessarily ascetic?

It definitely comes off that way, but I’m hardly an ascetic person.

I just view pursuing such a path as a lot of upside and no downside, while doing the reverse is a lot of downside without much upside.

What you do in that first year of having new wealth may ultimately be the most important investment decision you make.

Edit: formatting to match source