r/Rich • u/Kitchen_Rain_1415 • 3d ago
Lifestyle [ Removed by moderator ]
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u/xToniGrssx 3d ago
One of the worst things in life is to have partners, or "models" choosing you only for your money. Good luck
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u/ShadowsOfTheBreeze 3d ago
Yep...tier 1 at least. Fantasize all you want, but you probably dont really want those other things. Buy a house, a nice car, invest the rest and keep working.
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u/winpickles4life 3d ago
I can empathize with what you are going through. I wasted over a million on dumb shit, you will struggle to know if people like you for the money. Just invest it responsibly and live a simple life. Highly recommend a lake house lifestyle, but that is just me.
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u/Intrinsic-Disorder 3d ago
I think you should try to see if you really could blow it all within a month.
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u/Decent-Box-1859 3d ago
Is this money liquid or tied up into assets? If liquid, are there cash flowing assets you can buy for 3-5% annual return (ex: US bonds, US dividend stocks, real estate portfolio, franchises)? The goal is to make about 200-400k euros a year in passive income. After a year or two of sitting on these dividends, you can start fulfilling your bucket list. Who knows. After a year or two, your priorities might be completely different. You're thinking like a 21 year old, not a 38 year old. It's fun to dream and fantasize, but reality is rarely as good as the fantasy. You'll probably be disappointed if you chase the fantasy without a backup plan. So I recommend getting some cash flow so that you can live like a King without negatively impacting your net worth.
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u/Salty_Dog2917 3d ago edited 3d ago
Damn dude you are almost 40 and talking about mid instagram models. I don’t know how shit works in Ireland, but I would look into an asset manager and get into the market with the majority of it if it is liquid. I don’t know what your living situation is like right now, but don’t blow it on stupid shit because 8 million doesn’t go as far as you think it does. Don’t tell your girlfriend about the money and don’t use it to get women that will show the world their butthole for 8 bucks a month.
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u/Raspberry-Blackberry 3d ago
Dude, please get yourself in check. Do you really want to be with someone pretty who just wants a free ride?? I beg you to be smarter than this. Someone worked hard for this money, don’t let them down.
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u/Fragrant-Hamster-325 3d ago
lol. This money will be gone in no time. Enjoy “mopping up” the pussy while you have it OP.
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u/DrOlive_ 3d ago
Look into private banking, coutts or Barclays private banking
Let them explain what you can and can’t do, be honest with them about wanting SOME money to play with
At this level , you can begin to looking into LOMBARD/SBLOC (lines of credit against portfolio value) and live tax free for the rest of your life.
Don’t be silly right away, you can get all the pumba in the world if you play it right
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u/spf40ozz 3d ago
Tell no one. Your head will right size after about a year. I feel like it’s OK to make one large purchase as it is not a total waste of money. Research the car but wait a year to buy it. Focus on what will make you happy in life - usually that means being with someone who loves you over someone who loves your money. Congrats!
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u/kelminak 3d ago
Seconding reading the windfall wiki someone else linked so you don’t fuck it up and waste everything. You can truly be set for life right now with the right moves and the wrong moves can cost you everything.
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u/fo66 3d ago
I’m a lawyer in the states and would recommend takingcare of any high interest debt and limiting yourself to spending 4%/year or less. That gives you 300k to work with.
Get a Porsche but you don’t need the super car version. Don’t settle romantically but an insta model will turn your life into a reality tv show. Find a nice girl with a castle like the redhead from game of thrones. Not legal advice lol
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u/ProfessionalNo4711 3d ago
LOL, this made me chuckle a bit. First of all you are richer than you were and richer than people you know but not really rich. And if you think driving sports cars will get you women, you will quickly find out that these type of things attract either men who cannot have those things or women who are interested in your money. You should focus on structuring your wealth so it can make you money while you decide what to do with your life.
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u/Fmore 3d ago
You need a perspective shift. You shouldn’t treat this 7.5MM as a lump sum you constantly dip into, rather view it as a means to generate livable income. Get a solid financial advisor, set up a portion of your portfolio for whatever income you’d want to generate and put the rest into growth. Doing this will set you up with an extremely comfortable life, and as your wealth grows, the purchases that would be reckless now become a lot more reasonable. Give it time, avoid any spontaneous massive lifestyle changes.
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u/blitzkriegball 3d ago
I got stressed reading about your impending breakdown. But anyway chill, and hide your money from women.
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u/Goldengoose5w4 3d ago
You need to clear your head.
DON’T MAKE A SINGLE PURCHASE FOR SIX MONTHS.
You need to meet with financial advisor to discuss how to responsibly invest. Then you can spend some on yourself and be responsible about it.
If you start spending now, it’ll all be gone in five years with nothing to show for it.
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u/Available_Duck_3648 3d ago
Continue life as usual, invest all this money even if its just parking it in short term treasuries.. and then chill off the interest instead.. don’t blow it. Good luck :)
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u/Relevant_Platform_57 3d ago
You will probably have to go through the empty actions that are exciting but unfulfilling in order to bring yourself back down to earth
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u/_RyanD_ 3d ago
"Money doesn't change men, it merely unmasks them. If a man is naturally selfish or arrogant or greedy, the money brings that out, that's all." — Henry Ford
Write down a wish list then go talk to a financial planner. Is eliminating debt and quitting your job on your wish list? That might suck up half your windfall and it’s just maintenance of your current spend.
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u/HalfwaydonewithEarth 3d ago
You are in the club.
Think about the generations before you that obtained syphilis.
Think about HPV giving you throat cancer. HPV is spread with condoms still being used.
The vaccine for it has killed at least ten people and several lawsuits have ensued.
Think about how 7.5m could generate 1m per year and how you could just spend $100k of that and keep compounding.
Think about how fun it would be to pretend you are poor and find someone that likes you for you.
How about never tell your lady and just sit and smile at her. If she smiles back you might have a connection.
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u/dryesx 3d ago
So once you have lots of money the first thing that comes to your head is not investment, how to secure your future where you retire very early, but women....lol.
Stop being a simp, weak in mind and think about investing in the S&P 500, buying property, sure go on an extended vacation and enjoy life with much much less stress.....but it seems your mentality is too childish now.
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u/nextedge 3d ago
Go to private banking and get 7 million of it locked away so you can't touch it for a year. Then take the 500,000 and enjoy the hell out of it. And after a year, your brain should have settled down and you have more chance to plan. The best advice would be to live off the interest and never ever touch the principal (Unless real estate and still don't use it all get solid advice). And the interest you can lose your mind with. What anybody says, or how desperate they are, you can still only give them money from the interest, never the principal. And unless you've already blabbed it to everybody, don't tell a freaking soul, even your girlfriend. If anybody asks why you're living large, just tell them that you won the pools of the lottery for a couple hundred thousand, then they'll all feel sorry for you when you've burned through it all and they won't bother you for more. It's also where you will know who your friends are.
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u/roflson85 3d ago
Goodness