Re:Ask HN: Just cashed out for 2M. What now?
by ggruschow on Thursday February 19, 2009 @08:19AM
(#487220)
There's plenty of good advice here to think about.. but just think about it for a year. (Software recommendation: none for now)
There's no hurry, but there's plenty of mistakes to be made. Carry on as usual for a while and see if any of the ideas really resonates with you after your mind has settled.
Definitely don't get into a contract with someone to "manage" your money - they typically want 2% annually for it, and it's highly likely they've underperformed money market accounts over the past decade. Many (most?) have lost money over the past decade, at least after expenses.
There's no hurry, but there's plenty of mistakes to be made. Carry on as usual for a while and see if any of the ideas really resonates with you after your mind has settled.
Definitely don't get into a contract with someone to "manage" your money - they typically want 2% annually for it, and it's highly likely they've underperformed money market accounts over the past decade. Many (most?) have lost money over the past decade, at least after expenses.