I can add a different take -- I inherited a big chunk of assets a number of years ago. As opposed to a lot of tech cashouts, this included a family company, commercial office space and an investment portfolio. A big difference between myself and others in the thread is that I've had a lot of exposure to, and interest in, asset management.
I stayed with my corporate job for about a year, but ultimately the effort of playing board member to the family company and making informed investment decisions about the rest clashed with amount of work they wanted from me as I kept rising at my corporate job. When I told them I was leaving, they offered me a big raise and to double the team under me. I countered by asking for part-time and, if they wanted, a smaller team or none at all. Ultimately that didn't work for them, they needed a creative and driven manager, not a good but expensive individual contributor.
Like a lot of people, I took the next year off, convinced my girlfriend to quit her job too and we traveled. But I'm back to work these days, not a in normal job though -- I really think of myself as a full time investor.
I think there's a big thing people miss in this situation is that they can't see the forest for the trees. You have so many opportunities to create jobs, create products, create places to live, or drive charitable change when you have a lot of assets. Why work 2000+ hours per year in a normal job just to add a drop in the bucket? There's a lot of spilled ink in the linked article and elsewhere talking about, roughly, Maslow's theory of self-actualization and how you can get there doing your old job or similar. Jeez, you finally got to the pot of gold and now you're out of ideas? Swing for the fences, or at least, try and hit a few singles. And the best part is you can spend 8 or 80 hours a week doing it, you're in charge after all.
Me? I'm going Warren Buffet style from here on out. Sure I doubt I'll ever be a famous investor, but I'd love to take the amount I have and turn it into a lot more. My long term goal is to shore up the future generation in my family before I give the rest away. I think the happiness maximizing amount of work for each person varies, but for me I know it's more than zero.
I stayed with my corporate job for about a year, but ultimately the effort of playing board member to the family company and making informed investment decisions about the rest clashed with amount of work they wanted from me as I kept rising at my corporate job. When I told them I was leaving, they offered me a big raise and to double the team under me. I countered by asking for part-time and, if they wanted, a smaller team or none at all. Ultimately that didn't work for them, they needed a creative and driven manager, not a good but expensive individual contributor.
Like a lot of people, I took the next year off, convinced my girlfriend to quit her job too and we traveled. But I'm back to work these days, not a in normal job though -- I really think of myself as a full time investor.
I think there's a big thing people miss in this situation is that they can't see the forest for the trees. You have so many opportunities to create jobs, create products, create places to live, or drive charitable change when you have a lot of assets. Why work 2000+ hours per year in a normal job just to add a drop in the bucket? There's a lot of spilled ink in the linked article and elsewhere talking about, roughly, Maslow's theory of self-actualization and how you can get there doing your old job or similar. Jeez, you finally got to the pot of gold and now you're out of ideas? Swing for the fences, or at least, try and hit a few singles. And the best part is you can spend 8 or 80 hours a week doing it, you're in charge after all.
Me? I'm going Warren Buffet style from here on out. Sure I doubt I'll ever be a famous investor, but I'd love to take the amount I have and turn it into a lot more. My long term goal is to shore up the future generation in my family before I give the rest away. I think the happiness maximizing amount of work for each person varies, but for me I know it's more than zero.