- Invest in mostly conservative instruments, as if you were a retiree.
- Keep a small position in risky stuff to
capture some growth and get it out of your system.
- Diversify
- Keep quiet about it, don't get talked into crazy investment schemes. Think "old money" rather than "new money."
- Treat yourself a bit, recognize when you've hit "enough." i.e. more doesn't bring happiness. The number is lower than most realize.
- Remember mom, and others instrumental in your success. Everyone else can apply to your scholarship foundation, haha.
If your expenses are "reasonable" you could live off interest/dividends for the rest of your life. Donating time and charity to whatever causes you see fit.
Agree re: put money away for taxes - I've made the mistake of not doing that in the past and it leads to more problems.
As for conservative - general plan is to put enough money into 3-fund portfolio to be 'set for life' - then be a bit more aggressive with the rest. Agree with diversify. Keeping quiet is good - agree re: think like old money.
I do need to figure out how to treat a bit. Today we decided to splurge on $120/visit weekly housekeeping - too extravagant?
I plan to work for the next 30 years because I like it. I'm around 40 - but we'll see how it all goes.
- Set aside money to pay taxes FIRST.
- Invest in mostly conservative instruments, as if you were a retiree.
- Keep a small position in risky stuff to capture some growth and get it out of your system.
- Diversify
- Keep quiet about it, don't get talked into crazy investment schemes. Think "old money" rather than "new money."
- Treat yourself a bit, recognize when you've hit "enough." i.e. more doesn't bring happiness. The number is lower than most realize.
- Remember mom, and others instrumental in your success. Everyone else can apply to your scholarship foundation, haha.
If your expenses are "reasonable" you could live off interest/dividends for the rest of your life. Donating time and charity to whatever causes you see fit.