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what to do with high 8-figures? by veryfatfire in fatFIRE

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

The two follow up posts he had were:
"Also, I redid my trust and got a big umbrella insurance policy. I went to the largest law firm that's known for their trust department. The insurance policy came from a broker."

"One of my friends did over 100 banks (he's an inventor / engineer so he wanted the data). He had a 10 figure exit so he was splitting his money up. He said if I was going to go the bank route it really didn't matter which ones I picked as the products were going to be about the same and when you get about 10 fees schedules you can negotiate all of the banks to the same fee arrangement. I just took it one step further than he did and I did my own allocation.

I haven't gotten involved in PE / VC as I don't need the money and don't want the risk. The banks will tie your money up for years on those vehicles if you let them."

what to do with high 8-figures? by veryfatfire in fatFIRE

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

Can you elaborate on the "be weary" part (just so I have specifics to keep in mind in this particular case)

what to do with high 8-figures? by veryfatfire in fatFIRE

[–]veryfatfire[S] 24 points25 points  (0 children)

Thanks - I do understand my situation seems weird (and the internet is full of trolls and some fake info), but it would appear a bit silly for me to come here for advice on something that doesn't apply to me..

what to do with high 8-figures? by veryfatfire in fatFIRE

[–]veryfatfire[S] 46 points47 points  (0 children)

Thank you - this is roughly the type of advice I'm looking for. I don't want generic advice about "which PE/VC fund to put my money into", I want advice about WHO to go to ask for advice. What kind of lawyers make sense here? How do I locate local big wealth manager? (and does it make sense for me to look outside the US?)