Ask HN: How to Best Invest Windfall? | Hacker News Reader

Ask HN: How to Best Invest Windfall?

4 pointsnfthrowaway4 comments

Basically overnight, my net worth went from ~$200k to ~$7m (potentially more) due to a crypto project I did with a friend. I genuinely think crypto is a scam and a bubble, so I'm looking for any advice on what to invest in outside of the crypto space. I'm early 30s, single, USA. Most of my $$$ unlocks in ~48 months, but I have ~$1m or so immediately liquid. A few things I'm worried about:

    - Taxes and tax complications
    - Actually pulling it out of crypto into fiat
    - Using this wealth to generate more wealth in less speculative ways
    - I haven't quit my day job, but considering it

Any other advice is appreciated.

Hiring an accountant for your first two things will avoid a lot of tax headaches, plus save you more than enough money to cover their fee.

Get a few recommendations for an accountant from work slack / nextdoor / blind. If you're in a tech area, there'll be lots of accountants around used to dealing with single millions in net worth, sudden windfalls, and cryptocurrency.

Congratulations. I don't think investing a windfall is much different from investing in general. Some low-cost Vanguard ETFs are VT, VTI, and VTEB, for international stocks, U.S. stocks, and muni bonds. How to allocate among such funds depends on your risk tolerance and possibly your market views.

I agree. Not much different than let's say sudden inheritance.

https://www.reddit.com/r/personalfinance (click on 'wiki') recommends to read "I Have $[X]... What Do I Do With It?!" https://www.reddit.com/r/personalfinance/wiki/commontopics followed by "windfall" https://www.reddit.com/r/personalfinance/wiki/windfall

"I genuinely think crypto is a scam."

You must be very proud!

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