re: What to do when you are officially a multi-millionaire?

I play on TD all day

I could live a long time in central America on a million dollars.
That's what I would do.

First thing I would do is shore up things with the wife. You need to be on the same financial page or she will make your $2mm $1mm in a heart beat (or it’ll be worse for you).


Second, if you enjoy what you do for a living keep doing it. If you don’t, find something you do like. I’m in a position right now where $100mm in the bank wouldn’t get me to stop working. I like what I do, I like the people I work with, I can do it from anywhere, and I’m pretty well comped. Why would I stop?

I “retired” in my 40s - hit the magic number and all. It lasted about 3 months. Not working sucked arse, even being on several boards at the time wasn’t the same. The grass isn’t all that green on the retired side of the fence. Now, that’s from a guy who doesn’t work in a plant or some production job - I’m in finance and the hardest thing I do each day is my workout. If I was in a plant or something it would be a different story.

meh a million bucks is not much. I just kept working and investing the same as I always did. I have goals planned at certain ages. If I hit the goal at the correct age, i retire. If not, I keep working.

hookers and blow are my backup.

best of luck.

Ok. This

quote:

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Your brokerage account just recently crested $1,000,000 and your retirement accounts (401k, Roth IRA, etc) recently did the same.

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and this

quote:

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You haven’t been able to save or invest any money for years, as your wife spends every paycheck

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Makes zero sense.

The correct answer--if you enjoy your job, keep at it. Keep building wealth and generate passive income.

What I did--I have passive income and placed out early. I fish, have livestock (mainly for tax purposes) and stay busy. I also smoke a lot of herb. Hell, I'm smoking a bowl right now at 8:30 am.

Now my wife still works, but she loves her job. I didn't like 2 knuckleheads that worked for me and I had too much responsibility for not having enough authority. So I quit on the spot one Friday morning.

If you've accumulated 2mm with no debt in your 40's you've done a helluva good job. To answer your question:

The general test is to determine how much you'll spend annually. From the sound of it, the wife is a spender. Include anything and everything you can think of and multiple that annual amount times 25. If you have this amount put it in safe assets and you're ready to retire early. You've won the game at that point. If not keep going till you hit this number. Medical insurance will be through Obamacare.

When my dad became a multi-millionaire, he kept working until retirement age and hired a financial planner who keeps tabs on things to this day. Now my mom is living comfortably and retired.

That said, he only got to experience a few years of retirement until he passed away so I do wish he could've enjoyed the fruits of his labor a little longer.

Buy a Richard mille