I've sold a business I have given 70 hours a week to over 8 years.

I'll have 1.4 cash when all is said and done (ie: taxes paid). I can downsize my home in San Diego and probably pay off my mortgage or have a loan on 100-200K. I have 2 very young children (one still poops himself).

My home is worth 725, and we owe 260. My goal is to downsize, and have more time. Mainly for my kids. My wife runs a business that still basically maintains itself but is a challenge. Ideally I would like to cover out living expenses, and pursue something meaningful with my time, that isn't necessarily financially motivated.

What should I be pouring my research into, in order to not be rash, and yet not be too meek either.

Its of note that I built my business through hustle and good timing (related to the foreclosure meltdown), and I have a high school education but a good work ethic.

I welcome all thoughts. thanks for the time in advance.

closed as primarily opinion-based by Ben Miller - Reinstate Monica, MD-Tech, Dheer, Victor, JTP - Apologise to Monica Oct 27 '16 at 1:34

Many good questions generate some degree of opinion based on expert experience, but answers to this question will tend to be almost entirely based on opinions, rather than facts, references, or specific expertise. If this question can be reworded to fit the rules in the help center, please edit the question.

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    "1.4 cash"? What does that mean? You mention "100-200K" but then say your home is worth "725". Please clarify your numbers. – BrenBarn Oct 26 '16 at 6:55
  • Do you have a passion for anything? Perhaps you need some "vacation time" prior to deciding what to do with the rest of your life. – Pete B. Oct 26 '16 at 11:53
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    Congrats on the sale. Unfortunately, this question boils down to "What should I spend my money on?" and "How should I spend my time?", both of which are completely a matter of personal preference. I'm going to vote to close, as this question is primarily opinion-based. – Ben Miller - Reinstate Monica Oct 26 '16 at 12:13
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    Welcome to the site, though! If you'd like to keep this question open (or ask a new question that will stay open), you should provide more details on what exactly you are looking for. We can't pick a house for you, tell you what to do with your time, or tell you what toys to buy, but if you are asking about investing, tell us what your goals are. Are you hoping to retire now? Go back to school? Start a new business? We can't answer these questions for you. – Ben Miller - Reinstate Monica Oct 26 '16 at 14:39

You're not alone; there's a quite a few good bloggers out there on the general theme of "Financial independence, retire early" (FIRE). While most of what they blog about is about the technical money side of savings & investments and living sustainably off accumulated wealth, they also all seem to have had to confront the "OK, so what do I do now?" side of things too at some point (and admit that the "FI" is way more important that the "RE"). A few to get you started (think these are all UK based except MMM):


Congratulations on making it at minimum you are close to a 2 millionaire if I understand your numbers correctly. Here is what I would do if I woke up in your shoes:

1) Take some time. Budget some money and time. Go live abroad, take hang gliding lessons or become scuba certified. Something like that. The only thing I really dislike about your situation is that your wife may be precluded on going with you due to her business concerns. During this time dream, plan and decide what you want your life to look like. You seem to understand that you won't be happy doing nothing for a really long time. Its not a big deal if you blow 50K or so doing this. Take the wife to Paris, go visit the Galapagos Islands.

2) You are going to have to become wise about investing. I'd put close to one million in stock based mutual funds. That may sound scary, and you might seek others out to help you with this transition. I feel like that your time spent in your business may have precluded you delving into this area of knowledge. For now, you may just want to stick it all in interest bearing accounts, and slowly invest the money. Don't invest in things you don't understand, and you have to be on the look out for the next Bernie Madoff.

3) Its hard to speak to your desire to downsize your home. You could probably buy a nice ranch in Nevada from the sale of your home if that is what you desire, but you may kind of hate something like that.

4) Could you start more of a boutique business? Not one that occupies all of your time, but one that takes 20-40 hours per week. Something that interests you, not something that is overly a chore. Perhaps you can consult in the field that your former business was in. You most certainly have a lot of intelligent things to say.

5) Be generous. Find worthwhile charities to give time and money to.

Congratulations again. Take some time to dream, and then make those things happen.

Edit: You may need to make new friends. Actually wealthy people are a very small segment of the population and are out numbered by people who act wealthy. Its going to be hard, but you need to find people that have a certain level of wealth but are also don't make you uncomfortable with their level of spending (either high or low).

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    @warranpeace I agree with PeteB. For getting started in investing, check out bogleheads. Specifically check the lazy 3 fund portfolio. In your case, you have the nest egg and you'll likely want to focus on stability, low risk, income producing investments. Also, spending time to educate yourself on this topic could easily keep you occupied for a long time, assuming the topic interests you. Just be sure to structure your portfolio so that any part that is high risk is a small part. Consult with a financial advisor to keep you away from pitfalls. – Xalorous Oct 26 '16 at 16:12

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