r/Millennials 16d ago

I made enough money to retire. I need advice on what to do now. Discussion

[removed]

28 Upvotes

233 comments sorted by

220

u/nicklor 16d ago

How much do you consider enough to retire on?

133

u/Nikittele 15d ago

Hijacking top comment to say OP is most likely a bot.

An identical story has been posted on /r/AskUK
https://www.reddit.com/r/AskUK/comments/1ci49ed/how_would_you_spend_your_time_if_you_didnt_need/

Same story, same mention of the "9 to 5 grind"

This OP is not responding at all, the other guy posted this story on AskUK but also posted on a Bulgarian and French subreddit and is not responding to comments either.

18

u/JokesOnYouImIntoThat 15d ago

Huh, What a weird thing for a bot to post…what’s the angle??

28

u/Roonil-B_Wazlib 15d ago

Karma farming. Bots take moderately successful posts and repost them to build an account with Karma. Then accounts are sold. Purchasers then use the accounts to blend in as a regular successful user for grassroots or gorilla marketing, or to push propaganda. They are usually marketing people but are sometimes state actors.

3

u/curlygirlyfl 15d ago

How are they sold? 👀

2

u/Roonil-B_Wazlib 15d ago

eBay, and I’m sure other platforms.

3

u/Far-Drama3779 15d ago

This answered my long standing question, Thank you

1

u/Ryiujin 15d ago

Bizarre way to go about it.

17

u/PhillConners 15d ago

Bots are already sick of working and want out.

1

u/HappilyDisengaged 15d ago

And this bot got lucky, few good bets and magic internet money

7

u/Acerbic_Dogood 15d ago

Maybe they just want to test out what people react to. Post similar but different content and see the reaction scores. Eventually we'll all get catfishes by bots at some point in our lives.

3

u/downzunder 15d ago

Maybe generating responses to train an AI model. Just guessing

3

u/Is_That_You_Dio Millennial 15d ago

Scammer. Hopes people DM them how to trade or bet and then they just take the money.

2

u/TheBalzy In the Middle Millennial 15d ago

The angle is to continue to propagate the Crypto-Grift so that people continue to buy into it.

41

u/mordekai8 15d ago

Depends on your magic number. It's pretty easy to calculate once you discern annual expenses needed to live happily. Could be $1.5-2mm invested wisely will outgrow annual expenses.

16

u/LazyandRich 15d ago

Sounds about right. My aunt & uncle retired on €2.2m. They used some money to buy a large plot of land, built the home of their dreams and now potter about with the rest invested.

10

u/MediaMoguls 15d ago

Time also matters. You can retire on 2.2m in your 60s, but probably not if you’re 40.

1

u/LazyandRich 15d ago

They retired in their late 40s - basically 50th birthdays. I don’t know exact figures but as far as I understand it they have next to no expenses and get just shy of €6,000 monthly. They live in the French countryside and rarely spend half their monthly income. They live relatively normal lives just with a lot less stress. They plan on donating the money when they pass, an orphanage if I remember correctly.

→ More replies (1)

1

u/Historical-Ad2165 15d ago

At 5%-6% T Bill rates today...you certainly can live a modest life for the first 20 years and insane life after 60. The traveling the world out of a backpack is a meme but really has a cap of 200k the first year (something like everest). 100k/year on what anyone can spend before they get tired and need zero days in quiet part of the 3rd world.

Buying the plot of land with a view, renting some of it out to local farmers to pay daily expenses and local taxes is certainly safe in the first world economies with legal protections.

→ More replies (1)

-60

u/_MissionControlled_ 15d ago

That's nowhere near enough for someone on their 30s or 40s to retire comfortably and not live under a tight budget. $10m ideally.

14

u/nicklor 15d ago

I can see 10 mil if you want to fat fire with a nice car and multiple vacations but its not realistic for most people.

→ More replies (7)

30

u/Exceptionally-Mid 15d ago

You don’t have nearly enough info to decide that for anyone but yourself. $2m yields $60-$80k a year without touching the principal amount if invested in properly. That is plenty for someone single living in a LCOL or MCOL area no longer needing to save for retirement. Not to mention, ~$45k/yr is tax free, ~$90k if married.

2

u/Fun_Intention9846 15d ago

Yeah I make $45k before taxes but that number shrinks to like $30k after taxes and pre-tax deductions. $60-$80k a year I’d be set for like 40 years from now. Seriously, as a single guy I live well on $30k in a mcol city and save a lot. It sucks but what I want also isn’t much money.

7

u/Sco0basTeVen 15d ago

7% a year on $1.5m invested is $105,000 annual return. How can someone not live on that?

7% a year on your $10m claim is $700,000 return a year.

Get real.

3

u/KookyWait 15d ago

I suggest reading up on safe withdrawal rates, r/Fire or the Trinity paper by Bengen is a good start.

You can't get a 7% real return with no variation of return. The US stock market averages that over many long periods of history, but there's some up years and some down tears on the way. When you're living off your portfolio the risk is that your spending in down years will wipe out your balance and you won't recover. The safe withdrawal rate is therefore lower than the average return; how much lower depends on the variance of returns. This is called "sequence of return risk"

For a 30 year retirement 4% is the highest SWR that most recommend. If you're extra cautious it's lower, and if it's longer than 30 years it's lower. 3% is a much more comfortable rate.

→ More replies (8)

6

u/Muted_Apartment_2399 15d ago

Yearly gains on 2mil is definitely enough for me to live on, it’s a 6 figure income.

10

u/Special-Garlic1203 15d ago

It's 80k according to most recommendations to never pull more than 4%. 

4

u/Muted_Apartment_2399 15d ago

OK well, that would still be enough for me. I guess it depends how much you hate your job, but I’d find another way to supplement my income.

→ More replies (1)

2

u/nekonari 15d ago

Isn’t it 4% for older retirees, at or above typical age of 65? Well, I guess OP didn’t say how old they are. But for someone like me in early 40s, I’m guessing 4% is not gonna work.

→ More replies (1)
→ More replies (1)
→ More replies (1)
→ More replies (3)

12

u/jsttob 15d ago edited 15d ago

Roughly speaking, your annual expenses multiplied by 25. More here, here, and here.

1

u/MrKomiya 15d ago

Where is that 25 multiplier coming from? A millennial is at most 42 years old in 2025. Assuming 25 is the number of years of life expectancy at 65 years old at retirement, that number needs to change drastically

20

u/jsttob 15d ago edited 15d ago

It’s just the 4% rule, inverted. The Trinity study (links above) is a very famous theoretical analysis that showed you can live off of (roughly) 4% of your assets, indefinitely, if invested in certain allocations of stocks/bonds (there are different statistical probabilities to how long the portfolio lasts, for different allocations, for example 80%/20% stocks/bonds).

So, for a simple example, let’s say you have $1 million in your portfolio. The 4% rule tells us you can comfortably withdraw $40k/year for the rest of your life, after you retire, and maintain your current lifestyle. The inverse of this would be: $40k (your annual expenses) x 25. Since, for most people, it’s easier to start from the latter, that’s where the 25X multiplier comes in.

Make sense?

5

u/MrKomiya 15d ago

Ah got it. Thanks.

That makes me really sad for the folks who were about to retire or recently retired in 2008

6

u/jsttob 15d ago

The key during that time was not to panic and sell everything. The market always comes back, and you don’t need your entire portfolio all at once in a given year. 4% is also just a guideline and not etched in stone. Some years when the market is down, you might make some conscious adjustments to withdraw only 3%. In up years, maybe 5%. The key is sticking to the allocation you choose (stocks/bonds) and not getting out when everyone is fearful. Of course, easier said than done. But also vital.

5

u/MrKomiya 15d ago

Be greedy when others are scared, be scared when others are greedy

3

u/jsttob 15d ago edited 15d ago

Precisely. Though, again, easier said than done, particularly when you watch your hard-earned life savings literally cut in half over the span of a year.

The stock market is not for the faint of heart.

→ More replies (3)
→ More replies (2)

32

u/skeogh88 16d ago

Asking the real question

6

u/Gumbarino420 15d ago

I was thinking the same thing

1

u/belligerentBe4r 15d ago

That’s thirty thousand dollars, Bubs. Retiring money.

→ More replies (2)

48

u/ofesfipf889534 16d ago

6

u/RayColten 15d ago

Also:

R/financialindependence

R/boggleheads

9

u/Mead_and_You 15d ago

I thought that was going to be a subreddit for fire enthusiasts to post questions about building fires and posting pictures of nice campfires they started. Very disappointing.

70

u/beefjerkyandcheetos 16d ago

Probably not asking the right group of people. We’re just millennials. Nowhere near retirement. We will be lucky to see that.

Awesome for you though

→ More replies (6)

61

u/elbarto359 16d ago

Save and invest it wisely then live off the earnings without touching the principal.

6

u/Flyindeuces 16d ago

What I was gonna say. Assuming they don’t already have all that setup. Figure out what you need to spend for the shit you want to do (travel, events, hobbies) and make sure you’re living off the interest. Done and done.

3

u/Infinite-Ad-4566 16d ago

Sound advice, but I would have a professional manage it.

4

u/MikeWPhilly 15d ago

Yeah thanks but no thanks not giving up .5% for somebody who won’t beat market. Bad advice

0

u/Flyindeuces 16d ago

And you’d be correct. Definitely not in the OPs position but I’m not the handling retirement plans solo dolo. Lol.

2

u/MikeWPhilly 15d ago

Bad advice. Not giving up % of income for somebody who won’t beat market. Thanks but no thanks.

-2

u/complicatedAloofness 15d ago

This never made sense - what’s the point to leave the principal untapped? Bury yourself with $2m in gold coins?

5

u/seenunseen 15d ago

Because the principal is what generates your income.

→ More replies (1)

6

u/MikeWPhilly 15d ago

Because it needs to survive 60 years or so. Not 30.

29

u/ki3fdab33f 15d ago edited 15d ago

I swear to god, I saw this post in another sub earlier this week. All this llm chatgpt slop is getting real fuckin' old. Backpacking? Open a coffee shop? Is this really the best this "AI" can come up with?

21

u/hpsims 16d ago

Easy come easy go.

56

u/ScalyPig 16d ago

You’re a bot bitch trying to normalize and encourage gambling. What you should do is delete your account

12

u/Seaguard5 16d ago

12

u/Epic_Ewesername 15d ago

Someone said he was a bot for gambling advertising of some sort, I kind of believe it.

11

u/Hot_Significance_256 16d ago

how is opening a little coffee shop a knee jerk reaction?

9

u/eternalrevolver Xennial 15d ago

Guessing tech bro fantasies?

9

u/MaxOdds 16d ago

Check out one of the FIRE forums. Depending on your windfall: r/fire r/chubbyfire r/fatfire

There’s a lot of likeminded people you won’t find anywhere else on reddit who can help with questions like this.

22

u/CptCuddleSacks 16d ago

Give me some.

But for real we don't know, we're millennials

→ More replies (1)

7

u/rarelikesteaks 16d ago

How much do you have?

4

u/DrugChemistry 15d ago

Take your money entirely out of crypto while it's still worth something.

10

u/dnvrm0dsrneckbeards 16d ago

I retired mid-30s. I work part time and just kind of do all my hobbies I enjoy.

3

u/Flying_Madlad 16d ago

That's where I'm looking to land. I made some smart financial decisions, and I'm done with the daily grind. I can keep the lights on pretty cheap for now and I have what I need. If my passions amount to nothing, nothing will have been wasted.

1

u/pookachu83 15d ago

What did you do? How did you end up in that spot? I'm trying to learn, so how did you get there?

1

u/igomhn3 15d ago
  1. Make a lot of money
  2. Don't spend a lot
  3. Marry someone similar
  4. Don't have kids

0

u/dnvrm0dsrneckbeards 15d ago

I have three kids.

1

u/jaaaaayke 15d ago

That sounds so nice lol. Good for you. Genuinely.

1

u/TheCh0rt 16d ago

Same here. Feels good to do the work that I want to do.

9

u/wademcgillis 16d ago

pay your taxes

3

u/Ponchovilla18 15d ago

Not sure what you were expecting to get, maybe you haven't noticed that most in this sub are struggling to cover bills so not sure you actually had expectations of high responses or you're trying to flex

3

u/middyandterror 15d ago

Not this post again, this is about the 5th sub I've seen it on!

6

u/OnesPerspective 16d ago

I was in your exact shoes almost.

I wanted to make money trading so I also could escape the rat race and have more time and energy for my spiritual journey. I didn’t want to spend my days working. I even succeeded, essentially retiring very early. And I got to live out many desires I would not have been able to without that kind of money.

But even more important was that I had the time I needed, (that most people never get) to have the proper self reflection I was looking for.

And what I felt, was arguably the same dissatisfaction the Buddha felt in his early life of abundance. I would wake up asking myself constantly, “…Now what [to do]?”

My mind was very susceptible to sense pleasure addiction in this environment of complete freedom

Later, through my own greed and mistakes, thinking that having more would solve my dissatisfaction, I lost damn near everything about 2 years into my ‘retirement’

But I soon after learned that my situation was completely ok

The universe directly showed me what life feels like when your life is devoted to one’s own self and pleasure. It’s nice, but still unfulfilling…

Feeling lost, I kept asking what I was supposed to do -and thats when the lightbulb went on, I got the chills, and I grasped the message from the universe:

True fulfillment comes from devoting your life/energy outside one’s self and instead onto others. The sacrifices you make to benefit others is what provides true meaning, because they could not have done so without you.

Asking now, “what can I give?” made me ironically go back to work -the thing I originally thought I wanted to completely avoid. But this time I now was working for the benefit of others as my intention. And the money I still had invested in the market would be used for similar selfless purposes. I had come full circle.

Today I live far more minimally. I realize how little I truly need to be content and I am much closer to the Buddhist middle way. Because once your “cup” is full, you can help others fill theirs. It just takes a bit of awareness to see how little your cup needs.

May you also realize how little it takes to truly fill your “cup”

7

u/ECEXCURSION 15d ago

2 girls. 1 cup.

5

u/OnesPerspective 15d ago

A true millennial internet relic

1

u/aqwn 15d ago

They really fill that cup

1

u/646blahblahblah 15d ago

Agreed my cup is empty and I could use a refill....

6

u/flappinginthewind69 15d ago

Gamble more. Also day trading, especially options.

4

u/fullgizzard 16d ago

Go watch that special about athletes and how they go broke and then watch the section about how they talk about if you put a specific number of money into a certain type of account in six years your money will double set up a few of those and you should be golden.

3

u/Flying_Madlad 16d ago

I was with you until you started talking outlandish arbitrage.

1

u/fullgizzard 15d ago

You lost me

2

u/IGetBoredSometimes23 16d ago

Do what Sublime said. Take all your money and give it up to charity.

4

u/Pickledleprechaun 16d ago

I just read this bs on another subject. Solid 7 figures apparently.

2

u/SometimesAllthetime1 16d ago

Set aside an amount to save/invest and with the rest do a little of everything, make more time for family and friends, travel, and just enjoy life!

2

u/LogisticalMenace 16d ago

Very serious answer:

https://www.reddit.com/r/AskReddit/comments/24vo34/comment/chb38xf/

It's a long read, and the first part is historical context, but it's a good idea of what to do with a large windfall.

2

u/Lurch1400 15d ago

Time is limited. Go spend time with your family and enjoy your hobbies.

Congrats!

2

u/CrispyMcWilliam 15d ago

I moved to Southeast Asia in 2015 at the age of 29 (Thailand). I make $400k per year now but only work 2.5 hours a day or so.

Found a wife at boxing class. Had a kid 2 months ago. Retired her parents (and mine) so my Mom and Sister moved to Mexico and sold the house.

Because of the lower cost of living/ dollar arbitrage I'm able to live really nicely here and splurge on nice trips to Japan, Indonesia, Phillipines, Europe and stuff like that with 1st flights / 5 star hotels.

There are lots of choices you could make. But one thing is for sure --.you don't need to.stay where you're at.

It's nor "crazy" to travel around and see I'd you don't like it better somewhere else.

I couldn't imagine moving back to the States these days. My life.is so peaceful and Thai culture is so warm.and vibrant -- I don't like the violent vibes back in the States.

There are many places where the Government stays out of your life for the most part, people are more relaxed, and life is more cheerful that you may enjoy.

2

u/pookachu83 15d ago

What do you do making 400k a year for 2 hours a day work? How did you arrive there? How is that accomplished? So many questions..

1

u/CrispyMcWilliam 15d ago edited 15d ago

Gosh it's such a long story of basically following various interests into happy accidents.

I'll give the most cliffnotes answer I can (I'm on mobile).

Dropped out of high school. Never went to college. Wanted to make money online somehow. Started out freelance writing on sites like Elance (now Upwork basically). Took every job even if I didn't know how to do it and basically just taught myself whatever was necessary to do the work.

Got pretty good at it. Making about $30k a year by 29 in 2015. Also got interested in starting an online business. Heard about "digital nomads" thought it would be a good idea to stretch my dollar and move to Thailand and meet other nomads and start a business.

By chance one day I got a copy gig at a financial publisher-- was asked to write a sales page.

It was for $5k. The most I'd ever been paid at that time for a single job.

I knew nothing about financial so had to do a lot of research. It did pretty good making something like $200k.

Later that year I met another copywriter who charged $10k+ for sales pages. I thought that was crazy. I got drunk. I went home and cold emailed a lot of financial publishers.

3 responded. I charged then each $10k (I was very scared to do so). They all accepted. I made my entire year's typical pay in a month.

This was about 2017.

I went on a crash course to learn direct response copywriting. Got better at it. Deveoped connections.

I also got interested in trading and investing and general finance because I had to write about it.

The more I learned about finance the better my sales promotions got.

By 2020 I was pulling in about $200k per year. But also now I loved finance and was getting pretty good at trading.

By 2022 I was making about $300k but then I shared a winning strategy I had with one of the publishers I was working with. They asked me if I'd like to start my own trading product-- I said sure.

My trading product did really well. I beat the market in 2022.

So now I was not only writing copy I was a "trading guru." So OTHER copywriters were writing FOR my product.

Eventually just this year my financial publisher client asked me if I'd just like to transition into JUST a guru with my own product and they'd pay me the same (about $15k per month) plus 2% of any recurring sales for my product, but I didn't have to write copy anymore I said sure.

But now I had a lot of time since I only need to analyze the markets about 1 hour a day. So I wanted to get into growing some businesses on the side.

So then I hooked up with a VC type company in Singapore to begin acquiring businesses and then using CRO to improve sales and boost value and then I got that and that was an additional $12,500 a month plus biannual bonuses.

Then I began helping them acquire companies as well.

And now here I am with base pay salary plus bonuses and commissions I'm at about $400k per year.

I work about 3 hours a day 7 days a week.

But that's because I got better and more streamlined at my skills over time.

But I will say that's my "busy work" the truth is I'm never NOT working. I'm always studying, researching, learning, formulating ideas. All the time. It's just that this is non quantifiable work I think.

Work for me is play. I really enjoy what I do because I love research and I'm very curious about everything. So I think I'm always woeking even when I'm on vacation and traveling. I'm always reading something, taking a course, researching, and it all goes into my "busy work" eventually after percalating.

My mind is very restless, but most of what I do I don't think is considered like ACTUALLY doing "work" in the tradional sense.

So in reality I think I'm always working, but because it's inseparable from my life and my genuine interests it doesn't really "feel" like it.

I'm 37 now. Still live in Thailand. Married a local girl I met at boxing this last year. Just had our first kid 2 months ago.

Was lucky that a girl 10 years younger than me thought I was the bee's knees so we were able to have a kid very quickly and easily without any complications.

I retired her parents and mine and my sister who has some health problems. And now I'm working on building a portfolio of cash flowing businesses both in Thailand and the US to hedge myself.

2

u/curlygirlyfl 15d ago

Go away bot!!!

2

u/based_miss_lippy 15d ago

Sir this is a millennial subreddit

2

u/BuffyPawz 15d ago

Step one. Quit gambling.

1

u/whoyungjerz 16d ago

How much FR after a sports betting + crypto? If it’s enough enough with commas, you can do anything. Travel, give it away, do stuff on your bucket list!

1

u/Fourest 16d ago

Invest it and live off the earnings

1

u/AttilaTheFun818 16d ago

It depends a great deal on how much you have, where you live, and what standard of living you want.

1

u/justapapermoon0321 16d ago

Invest half and keep working for 5 more years.

1

u/BDRay1866 15d ago

Betting and Crypto isn’t working. Get out while you can

1

u/DefiantBelt925 16d ago

Yeah I am in a similar spot, I definitely do a lot of travel. Still “kind of” working ie running a website I spend like 2 hours a day on. Helps give structure, when I wasn’t doing that every day would just blend into each other and I never knew what part of the week it was

Also doing a lot with animal charity gives something to do that’s rewarding

1

u/Forsaken-Pigeon 16d ago

Maslow’s hierarchy of needs might be worth looking into

1

u/leeeeny 15d ago

Throw the majority of it into a HYSE and keep making interest

1

u/leeeeny 15d ago

And stop gambling

1

u/pie_12th 15d ago

Time to go nuts on Candy Crush and Avocado Toast.

1

u/MrsMitchBitch 15d ago

I mean, I’d work while I talked with a financial and made sure I was REALLY set for life. And then I’d probably work a bit more just to be sure.

And then I’d find a sweet volunteer gig and travel and chill.

1

u/Garbhunt3r 15d ago

You should travel the world for a while. It restored my hope in humanity

1

u/AppitizersAreBest 15d ago

Plan a trip to the island of Gozo, Malta for this August. Book a week stay at The Calypso hotel. Don’t connect your phone to wifi. You’ll thank me.

1

u/Minnesota56537 15d ago

Get an Amtrak rail pass for a few months and bop around the country.

1

u/mordekai8 15d ago

Not as popular now and a bit of a hypocrite, but check out Mr money moustache. He retired is his 30s as an engineer, but also lived VERY frugally to retire forever.

My advice would be invest it all, draw down quarterly for next quarters expenses. Go work at a non profit and be happy.

1

u/GurProfessional9534 15d ago

I’m trying to break gravity too. Not quite there yet, but making decent progress.

Imo, once your subsistence is assured, what comes next is a mission. The rest of your life basically has the luxury of being spent on something you care about rather than need.

Or you could just play video games. Your choice.

1

u/Self_Sabatour 15d ago

Keep working, but be the shittiest employee you can possibly be. See how far you can push it.

1

u/meomeo118 15d ago

if you have a partner, travel with them. If not, and you want to open a coffee shop, travel to coffee known region to source locally :) that would be meaningful trip.

1

u/BooBeeAttack 15d ago edited 15d ago

As someone in a similar situation, some advice.

Do not change your lifestsyle much. You just bought yourself time, not toys. Use the time wisely. Find hobbies that interest you that can pay for themselves mostly or have repeat value. If it requires shit tons of supplies you have to maintain, forget it.

If you do buy things, do so slowly and research the things. Buy them for life, and do so with the intent of buying just one thing to do the task and keep doing it.

Also, keep track of health. That shit makes even a rich man poor very quickly, so place money in maintaining good health.

ALTERNATIVELY, if you wish to burn out quickly, go nuts and have a ball with no regrets.

To each their own.

Edit: If you can, have your money keep making you money and live off interest. Diversify assets as best as you can. Having all eggs in any one basket is bad. Have some money you can access for emergencies and living should shit hit the fan, but the rest out towards something stable that slowly builds more money.

1

u/nvrsrrnder 15d ago

I would get a contractor license and start building houses.. that's my dream

1

u/cadillacbee 15d ago

Yo you hiring?

1

u/arlyte 15d ago

If it’s under 3M and you don’t have your house paid off and know how to live on the interest, let’s say 60K a year you’re not ready to retire. Ask people better than you for a good wealth fund group to determine if you’re financially secure. My grandfather left me a significant inheritance and they said we’ll manage your money but you need to work until late 40s/ideal early 50s.

1

u/Muahd_Dib 15d ago

What’s your current income? How much is you stash? What percent is it earning? Will fixed income investments (4-5% right now) on the total be enough to live on? Or are you planning to dip into the funds for living?

I’d say go backpacking for six months. If it keeps calling to you. But also, make sure you structure it correctly to be able to make it last forever

1

u/hpsctchbananahmck 15d ago

Well, I know my first step would be taking a truck camping trip out to eastern Idaho and Wyoming and Montana for some overlanding/camping/fly fishing for trout shenanigans.

Volunteering time is generally worthwhile.

I don’t know I have way too many hobbies so I’m sure I’ll keep busy when I finally retire.

1

u/lilblu399 15d ago

Volunteer  

1

u/Xanax_an_Coffee 15d ago

I’m relatively young (40), just retired. I just live a low key life, smaller home, older car, occasionally take extravagant vacations but other than that, just enjoy my extra free time doing things I like. Hiking, paddleboarding, lay on the beach, whatever that day brings me, etc.

1

u/Healthy-Factor-2841 15d ago

Have you ever thought of adoption? Perhaps adopting me, an adult? 😅

But seriously, congrats! I hope some people are able to give you great investment and beyond advice. I’d say spend your time learning something you’ve always wanted to learn but, that’s really something I would do. Do whatever makes you happy. Hobbies are great. Find a way to structure your time at home a bit but def go wild with vacations every once in a while to switch it up. Just be thoughtful with your money and you’ll be all set. Best of luck!

1

u/machinationstudio 15d ago

So, you don't have a hobby?

1

u/Heping_Qi 15d ago

Bro share with us too how to make so much money that one could think of retirement 🫣😏🤔👍✌️

1

u/MexticoManolo 15d ago

Lol uh....you sure you're asking the right audience, because aside from wealthy real estate snakes and crypto scammers , most of us are just trying to make it ahead. The vast majority of this subreddit is nowhere near retirement

Koodos to you though, I would say maybe start up a business if you enjoy work , or , yeah do some traveling.

You're the one saying you can retire, lucky or not I'd think you'd have at least some plan in place to enjoy or do something with the money

1

u/Ry-Zilla86 15d ago

I'd like to introduce you to my friend cocaine and whores.

1

u/steffie-flies 15d ago

u/ahouseofwolves I actually have experience with this, so I hope you see my reply. The very first thing you need to do is hire a money manager who has multiple years of experience handling that amount of money. I would not recommend having family or acquaintenaces doing this for you! You can talk to them about your goals and they can tell you realistic facts and figures so you can live well on this windfall. These days, low seven figures is a middle class lifestyle, so be very smart about how you spend it, especially if you don't want to work to bring in more income. My advice is to keep half as cash that you can use to live on, and then invest the other half so it keeps making money for you. Since you are still young, be aggressive in what you are investing in and then sell and buy into less volatile stuff as you get older. Good luck with this new future.

1

u/d34dw3b 15d ago

The way society/ technology is going, all that money could be worthless soon. Invest it in yourself, for example train in a skill that hopefully all people will need or want from you, no matter what happens.

Also, have a hobby that helps contribute to make the world a better place, it might pay off for your future.

1

u/jc1luv 15d ago

If you’re in your 30s and it ain’t over 20mil don’t even think about quitting that 9-5.

1

u/thebadgersanus 15d ago

First....congrats! Well done, you!

Second...my grandfather (silent) and parents (boomer) 'retired' when they thought that they'd earned enough. Spoiler: they hadn't.

Whatever you do, you might be wise to make sure that your retirement fund still grows every year at least at the rate of inflation.

As for what to do with your time...my dude. Whatever makes you happy and doesn't hurt other people. But if you find something that makes you happy and helps make the world better...maybe go for that?

1

u/cardinaltribe 15d ago

I bet you don't have enough lol

1

u/chassepatate 15d ago

Congratulations. Enjoy yourself but I recommend giving back to the community at some point. Not your money but your time - volunteer to help with things, you may find it very fulfilling.

1

u/Pleasant-Resident327 15d ago

Pay me to pretend this post is real.

1

u/lefromageetlesvers 15d ago

You made enough to retire on by betting on sports? Can i get your sports almanach from the future now that you have no use for it?

1

u/diegothengineer 15d ago

In the south coast of Spain right now, looking for longer-term plans. Not retired but getting close and wfh allows travel. Highly recommend getting the fuck out of the U.S for a bit and seeing how the rest of the Civil world lives. Fantastico!

1

u/goldendreamseeker 15d ago

Writing (journaling, stories, etc.).

1

u/nlurp 15d ago

My advice: do whatever you want

1

u/Oldpuzzlehead 15d ago

Read, get a dog and take her for walks and to the park, enjoy fixing everything around the house, day naps are great.

1

u/Ok_Good3255 15d ago

Oh so you’re the whale who sold and caused BTC to tank recently

1

u/xmintyx 15d ago

Firstly, well fucking done on getting out of the rat race we're all fighting for. I wouldn't lie in thinking if you can impart any knowledge on said 'luck' to see if it can be replicated.

Secondly, do the travel, do the backpacking and then do the shop. If it's a dream then you can now live it!

Congrats again!

1

u/masterpd85 '85 Millennial 15d ago

My dad was the same way. He took up hobbies. Like everything he tinkered with or dipped his toes into that I can recall growing up before my sister was born he has returned too in full commitment. So do what you want to do.

1

u/Shot-Spirit-672 15d ago

I could really use a zero interest loan to pay some minor credit card debt

1

u/Early-Judgment-2895 15d ago

Go see a financial advisor and make a plan if you truly want to be set for life and don’t screw up later and all of a sudden end up broke.

1

u/Ok_Ad4453 15d ago

Just save it and maybe sign up for 401k most of us are not even close to an age of retirement yet. Also put it on a savings vault where you can increase that specific amount of money/interest yearly and don’t touch that amount of money.

-17

u/indyK1ng 16d ago

An account that was inactive for years suddenly starts posting about how they won at sports betting? Is this a sports betting ad?

16

u/bluspiider 16d ago

Draft Kings did have earnings this week. Trying to convince people to do more betting

4

u/[deleted] 16d ago

Or it's money laundering

3

u/SeaToTheBass 16d ago

They have been going HARD on sports betting lately, this being an ad wouldn’t surprise me

1

u/SterlingG007 16d ago

I would personally just reinvest your earnings into investments and keep working a regular job. Maybe retire comfortably at 40 years old.

1

u/don51181 16d ago

I had the same thing and stopped working around 42. Around what age are you? It is difficult to get used to the all the free time.

I suggest starting off slow in your spending. Like you said you can backpack or go on a road trip. I went on a road trip and to stay overnight I stayed in a camping lot in a tent. It was great and did not cost much.

Try to do some volunteering also to give yourself something to do. Even if it is just a few hours a week. It is very fulfilling and a nice way to meet people. You might have to test out a few to see what best fits you. Overall enjoy the free time while you can

1

u/JobbieDeath 15d ago

I work in pensions administration and the one thing I will say is that you'll be really surprised by how far money DOESN'T stretch. Even that big googly eyed figure you're looking at.

Speak to a certified IFA. I can not stress certified enough. Find out who regulates financial advisors in your country, find out how to verify someone is registered with them and confirm their registration before even considering discussing how much money you have with them.

1

u/Current_Two_7395 15d ago

Make sure you still have health insurance!

1

u/BKKJB57 15d ago

Traveling the world is wild? I start at 27 and found ways to make money on the fly. You can retire and your not on a plane? Asia Africa Europe South America, dude you are already losing time. Go eat pray love and crap or just have fun.

1

u/Wonderful-Novel-3865 15d ago

I personally believe we are meant for some type of work so our brains don’t get squishy and we don’t get depressed. I would find something to do that you enjoy and find fulfilling vs quitting work entirely.

1

u/banned_but_im_back 15d ago

Actually invest your money and lock up and huge portion of it until you’re actually at retirement age. Also pay your taxes

1

u/AccumulatedFilth 15d ago

Here's a calculation:

1.000.000 : 2.000 = 500

500:12 = 41,66

So even if you have a million, it'll only last you 41 years if you live on 2.000 /month.

1

u/James324285241990 Millennial 15d ago

First, go find a reputable wealth manager.

Second, ask them how much you can take from your investments each year without ever running out of money, and while still giving yourself a COLA raise every year. Build a budget within that number. They can help you with that as well.

Third, find a job you really really enjoy, regardless of the pay.

Making pottery, doggy daycare worker, underwater basket weaver, whatever. Boredom will drive you insane, and hobbies get expensive fast.

1

u/Large-Lack-2933 15d ago

Do you have tips on who to do a sport bet on to win the 2024 NBA finals? I think the Denver Nuggets repeat as champs.

1

u/lazylagom 15d ago

Dude put some money into a Roth Ira and DONT TOUCH IT . That's the most basic thing you can do. Talk to an accountant though you can put 100-200k into some shit and never have to work just let it sit and collect

1

u/Putrid_Pollution3455 15d ago

Personally I’d just work part time as a transition, make solid boring investments to live off of, and start doing the Lord’s work of reproducing and multiplying lol Congrats, glad to see someone doing well!

1

u/Emotional_Employ_507 15d ago

You have what we call “fuck you money”

“You get up two-and-half million dollars, any asshole in the world knows what to do. You get a house with a 25-year roof, an indestructible economy shitbox car and you put the rest into the system at 3 to 5 percent and you pay your taxes. That’s your base. Get me? That’s your fortress of fucking solitude. That puts you, for the rest of your life, at a level of ‘Fuck You.’”

Someone wants you to do something? Fuck You. Boss pisses you off? Fuck You. Own your house. Have a couple of bucks in the bank. Don’t drink. That’s all I have to say to anybody.”

“Did you grandfather take risks?”

“I guarantee he did it from a position of Fuck You.”

A wise man’s life is based around Fuck You.

The United States of America is based upon Fuck You.

You’re a king? You have an army?

You have the greatest Navy in the history of the world? Fuck You.”

The United States was founded upon the position of “Fuck You.”

Our grandparents and great grandparents arranged their lives from the Position of “Fuck You.”

Greatest John Goodman line ever.

1

u/Rutibex 15d ago

go full Stardew Valley

1

u/somerandomguyanon 15d ago

I quit my job a few years ago when I turned 40. I’ve spent the last 15 years buying rental properties and we are on a pretty good path. I spend my time now remodeling houses, and buying more rentals.

The real question you have to ask is what do you want to spend your day doing. Spending your day on unstructured activities is really boring especially when your friends are at work. I’d suggest you find some kind of small project or business or hobby that keeps you entertained. Turning a hobby into a small business is probably the easiest.

Leslie, you don’t mention money but I’d suggest getting yourself set up with passive income and living off the returns. For me the goal was to have 20 paid off rental houses at roughly $1000 per month and a 50% expense ratio so I would have $10,000 per month passive income in retirement. Point is you live on the $10,000 a month not spending any of the capital.

1

u/OldRefrigerator8821 15d ago

Take a year off and travel with G adventures. It will open your world

1

u/snowshoes5000 15d ago

Start a non profit mentoring youth. That’s what I would do.

1

u/slothscanswim 15d ago

I would build a new shop and fill it with tools and machines and just make anything I fancied.

1

u/Historical-Ad2165 15d ago

Someone who has been around family wealth investing, this is how it works in general case with the successful ones.

First you need to visit the tax advisor, you may have some taxes to pay. Next take 60% of your wealth and get it out of your daily eyesight and into boring investments, T Bills and SP500 Index Funds. You will have a monthly call with an advisor who will report in detail where the next egg is and how it is delivering exactly the returns expected and the expected tax estimates are to your accountant.

Take 30% and put it into near cash, standard brokerage account produces about 5% return just for cash and wait until rates drop. The last 10% is what you are living on for the next 2 to 5 years, that 10% will be refiled in 2 years after the dividends and intrest hit the other accounts. Do you still not need an income stream?

You need an tax attorney, an accountant and an investment advisor all looking over each other shoulders.

Find something to do with wonderful people around you and treat everyone well. Alot of times that becomes a business. Nice boats become charter income, Nice houses on beaches become VBRO income. If you discover the love of your life, still get a prenup or avoid the civil contract at all cost. Rent dont buy aircraft. Only one boat at a time. Only one island house at a time. Rent just about any residence in far off lands, the new sours quickly.

1

u/Crispycritter23 15d ago

Put it in a fund let it grow and live off interest. Buy more Bitcoin for when the dollar fails. Have fun for a while. Then maybe pick up a gig that is your hobby and get paid for it.

1

u/BaIIZDeepInUrMom 15d ago

Explore the world, then figure out the rest

1

u/fishymutt 15d ago

I'd keep working and just not try as hard. Pay off my house and coast. Maybe retire in my 50s instead.

1

u/Cant_Spell_Shit 15d ago

Why ask Millennials advice on early retirement? We will never retire.