Saint5446

Nothing. Kids make really good grades and always assumed TOPS/scholarships would potentially be in play, but this is a good thread to pull on regarding 529 and other college savings.

Good to know. They are paying me well and not looking over my shoulder all day, so I intend to work for them for a while. Honestly it seems like I will have a similar income as an employee than I did as an owner, with some new challenges and responsibilities in a more regional role. So while I initially planned on running out after I collected all the bonuses, I am now thinking I am going to stick around through my 40s.

I have considered the idea of maybe trying to find a contractor and building a commercial building and lease to my new employer. We have had some discussions about expanding it into a bigger space. I would try to build enough space to house the expansion and maybe one other tenant.

You guys gave me great guidance and advice while I was navigating selling my healthcare business. Looking for an idea of next steps, and I realize this is an online message board and not financial advice, and even a recommendation of "get an advisor" is useful.

Background on me: 40 years old, 4 kids in private school (oldest is 11), already own my "dream home" at 2.8% mortgage, wife does not work. Drive newer vehicles, but nothing crazy, a Toyota Tacoma and Ford Expedition, both a few months from being paid off at low interest. No interest in vehicles, boats, toys, etc as I have a wonderful wife, 4 beautiful kids, and a generally really good life, not a guy who buys really expensive things.

So I recently sold my healthcare business, won't specify what discipline, but total sale price was $1,750,000 in two installments, 925k up front and 825k at 12 months on an earnout which I am on track to hit about 9-10 months into the deal, so should be a layup from here. Since I was self employed before, I had to close out old company Paychex/401k accounts.

Assets:
-Between an IRA that was recently moved, and company 401ks, I have about 360k in tax deferred accounts. These are in a cash position currently and all just got moved to Fidelity.
-About 650k cash sitting in a checking account from first half of the sale (leftover after winding down some company debt and have another 80-90k in debt to wind down.)
-Around 450-500k home equity on a $1.0-1.1 million dollar home. 600k mortgage remaining at 2.8%. This is our "forever home," no intention of messing with this by moving anytime soon.
-825k on second half of sale price set to be paid out in July/August 2026.
-100k retention bonus coming due to me in July/August 2026.
-Good salary, benefits, etc working for company who bought me out.
-Seperate healthcare staffing company that I am 51% owner of that provides me about an 90-100k income per year

Liabilities:
-Under 20k in auto debt, low interest.
-Home mortgage
-About 40k in remaining business debt on one account that needs to be wound down, and another 50k in another personal account that was taken for business purposes that needs to be wound down.
-Tax liability from first part of the sale, around 200k.


Barring any catastrophe, after winding down all the debt and taxes on everything, by July/August of 2026 I will have about 360k in tax advantaged accounts, $900,000-$1,000,000 in cash, and no debt other than my mortgage. I am trying to figure out two things:

1-Moving 360k in tax advantaged out of company accounts, where should this go? Couple index funds, dividend stocks? Lump sum (market seems expensive), or DCA? I have managed this money on my own for the most part over the last 18 months by day and swing trading and have returned about 31% over the last 18 months, beating the S&P by a few %, but don't really think it was anything I necessarily did, just a good market. Was considering taking 300k and sticking it in something slow and steady like VOO and playing with the other 60k.

2-What do I do with the 900k-1.0 million once I have the full amount? Taxable brokerage with a similar strategy as #1? Dividends? Commercial real estate? Something I haven't thought of?

TLDR, please give me ideas on how to manage my money that I can further research.

Thanks in advance, you guys are great.

Believe it or not I had 50,000 shares of this at $1.40 as a Twitter tip.

Sold around $2.50 and thought I was a genius. Saw it go to 13 yesterday and felt like a fricking idiot.

Honest opinion is that every single part of this plan is a bad idea from locations to self insuring.

Kind of nailed it. 1.75 mm isn’t enough to retire, but I am still working for these guys for a few years minimum and collecting a bunch of retention bonuses and if that doesn’t work out I am going to fire it up again in a few years.

I don’t want to retire right now. I enjoy working. Seems too good to leave this money on the table though.

Bumping this thread.

Closing on this in one week. Final sale price was agreed to at $1,750,000.

Base Salary $125k, $50k retention bonus annually for first 2 years at 12 and 24 months, combination of 10-20% profit sharing of 5 different offices in the city. I elected to give some of this to a few of my key people. It's around a $225kish job for first 2 years for me, others are well taken care of. I have a third year retention bonus clause as "negotiable," which I am not necessarily counting on.

Option to roll up to 20% or 350k into A shares, which are currently on schedule to sell in either late 2026 or early 2027. Still unsure of whether or not I will do this. They are of course making it sound like a very sure thing, and also very timely, but I don't have to decide until 6 months after the sale.

Also still own 51% of the other business, netting me about 80-100k/year.

Genuine and humble thanks to everyone who offered me advice, many of you pointed me at things to consider I had not thought of. I found a really good M and A attorney who helped with the process. I feel good about my decision.

Now after clearing the debt, and paying the tax burden, I will have about $1.1 million in cash remaining. Next question, what do you do with something like this? Taxable brokerage?

Sincere thanks, Money Board. :bow:

Great job OP. I sold way too early on the first pump around 1.90 but still made good money in like 48 hours in from 1.30. :bow:

Might see about grabbing some friday around the close if it continues to nuke here.

If someone wanted to get in, what does everyone think a decent entry point would be? I’m not sure how price translates from SPACS to and IPO and would play a small bag here.

Sold at 1.87. That pop was too good not to.