Due to the IPO of a truly great company, I'm going to have lots of
money. I've never been so rich before. How to use all those money to
improve the quality of my life and other people's life?

Here is my rough plan:
1) Donate some of them
2) Pay for my parent's mortage
3) Buy myself a house
4) Buy myself a nice car
5) Improve the health care of my family
6) Due to my single status, sign up for 10 dating services
7) Diversify X% of my shares (What should X be?)

Anything else?

Thanks!

Happy Tom

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Request for Question Clarification by omnivorous-ga on 20 Aug 2004 11:44 PDT

HT --

We're happy for you too!

But only 1 of those questions can really be answered objectively: #7. 
And even then, you're not going to get a specific percentage.  There
also is some good data to support doing #3.

The others are very subjective.  But if you still want a researcher to
answer them, we've got some pretty witty ones here.  Let us know?

Best regards,

Omnivorous-GA

---

Clarification of Question by happytom-ga on 20 Aug 2004 21:00 PDT

Thanks for the comments from other Google users. 

probonopublico-ga and lox18-ga: Although your suggestion sounds
attractive, it is not the best way to spend the money :-)

4keith-ga and forge-ga: Yup, I'll be spending my money carefully. 

omnivorous-ga: As for the clarification ... Would you help me to find
some real life stories on those people that have acquired a large sum
of money and they use them sensibly to improve their quality of life?
By quality, it can be something non-materistic. For example, John was
a broker but he actually wanted to be a musician. Because he won the
lottery, he now goes back to school and study music.

I think some psychologists have conducted a research that traces the
life of lottery winners, and find that after 10 years, many of time
are less happy than before. This is the thing that I'd like to avoid.

I would be delighted to share your burden.

Don't forget to sock a hefty amount away in a retirement plan. 
Consulting with a certified financial planner or reading books about
financial planning might help you narrow down your decisions or give
you some ideas.

4KEITH (I'm NOT a GOOGLE Researcher)
Accountant

Happytom...

Which dating sites are you going to join?

Steph53

Make sure that whatever money you are spending buying a house, car,
paying off a mortgage etc. is being financed by money you got from
selling some of your stock and not just leveraged against the value of
stock that you have. You can get yourself in some serious debt if you
hang onto the stock expecting it to stay at it's inflated IPO price.
Keep some of it, sell some of it to improve your quality of life and
sell some of it to reinvest in some other areas of the stock market
and potentially real estate (other than your primary domicile.)

forge

spend it asking questions here so we can share your wealth!

Hello Happytom,

You may be interested in an earlier question that I answered regarding
lottery winners:

http://answers.google.com/answers/threadview?id=141224

Best regards,
Bobbie7
Google Answers Researcher

I've had a great idea that will make you into a VERY Happy Tom ...

Just get married.

You will be amazed at the things that women can find to spend your money on.

Bobbie7: Thanks for the link. It is very relevant.

Hi Happytom,

Congratulations.

You are obviously wise enough to be aware of the first law of unearned
income. It's true. Quick money in the hands of those who know not what
to do is just as quickly spent. We find our equilibrium. As suggested,
how often have we heard of lottery winners, ending up broke, or worse
.. in debt.

I admire your approach of betterment for yourself, your family and
others. We exist for a reason, to make a difference. I also admire
that within your list, you did not mention yourself until your 3rd and
6th points. You now have that opportunity to make a collective
difference or to make a selfish difference. The choice is yours.

You won't need to sign up to any agency. No need to chase the chicks.
If she is worth her salt, your lady will happily come to you,
regardless of your wealth. Don't use wealth to attract a woman. If
that is all you use, then that is all that she would expect. Consider
what you are truly looking for. If I was I you, I would want to make a
huge impact for those in need deserving of my help, after you take
care of your family. It won't be one-off payments, it will be
intelligent money to multiply itself down the track, to make a
perpetual difference.

Compounding interest is the greatest gift to mathematics. Use it. I
could offer you an interest in my new project compounding at around
18-24%, but I won't. You will find that you have friends that you
didn't know you had. Look after yourself first, then your family.
Whatever is leftover, see if you have the energy to multiply that
benefit for all, with your involvement of focused energy.

I wish you well. I just love to hear success stories.

All the best, Phil

Do you really want a woman who meets you as a "rich man?"  You'll
never really know if she just loves the money.  Maybe you could
pretend to be broke when dating, like Eddie Murphy in "Coming to
America."

Wealth is a *responsibility* and it is also a burden in some aspects. 
It is hard to know who your friends really are - ask Mike Tyson.  You
will probably need to get your own lawyer, because you now have so
much to lose.  The rest of us po peeples just get our insurance
company sued.  Now you have a giant target on your back for every
greedy fool who wants to slip and fall on your doorstep or pick a
fistfight with you and then run to the nearest lawyer.  Before you get
married you must have an intense pre-nuptial agreement, and when she
divorces you her lawyer might still be good enough to find a hole in
it.

And diversify like crazy.  You need to spread yourself across
different markets, different countries, and different instruments. 
You can do it without a "professional," but people with mondo moola
usually don't.

Expensive cars burn money like mad - speeding tickets, insurance,
depreciation, maintenance, parts, and crashes.

If you have never done cocaine or meth.  Now is the world's *worst
possible* time to start.  (or meet a woman into such things)

You are on the right track with the "other people" part.  Obviously
you care very much about your family.  Beyond them, you have to find a
philanthropic interest that you care about passionately.

Matthew 6:20
store up for yourselves treasures in heaven, where moth and rust do
not destroy, and where thieves do not break in and steal.
http://bible.gospelcom.net/

Hi Phil and daytrader_7__6-ga,

Thanks for the comments. Honestly, after the IPO, I deeply realize
that the world is highly unfair. Although I work like crazy for the
past few years, what I've accomplished doesn't worth that much of
money. That's why I'll keep on donating part of my wealth to the
people in need, like the people in the developing world.

I was half joking when I said that I would sign up 10 dating services.
However, instead of my career, I think it is time to work on other
aspects of my life. Yeah, life gets tricky when one becomes rich. You
never know the reason why people approach you. Therefore, I will keep
my life relatively low profile, and I'm not going to get a Ferrari or
stuff like that.

In the movie Spiderman, I think there is a saything that 'With great
power comes great responsiblility'. It kind of reflects how I feel,
especially when that power comes accidentally.

Happy Tom

Hi, Again, Happy Tom

The trick in life is to be happy and to get a lot of fun out of
helping other folk to be happy.

Sometimes this only takes a smile or a kind word or a helping hand
when its is needed.

It doesn't take much (if any) money to do these things but it can help.

The problem with a lot of rich folk is that they try to buy happiness
but it simply cannot be bought.

Put the money out of your mind and get on with life.

From what you've said, I would say you have a great attitude and you'll be OK.

I do hope so.

All the Very Best

Bryan

Hi again HappyTom,

Thanks for taking the time to read our words. Seems like we are all
trying to tell you the same thing. On that note, judging by your
obvious intelligence, you would be advising the same to any other
person prior to knowing that you had such a windfall.

I guess it's important for those of us who care collectively to
attempt to express our own thoughts. What I mean is, your undisclosed
sum may have the compounding effect to make a big difference to our
world, provided that it has landed in the correct hands. It is too
important to dismiss. Just know that you now have the ability to make
that difference for the greater good, including looking after
yourself, your family and friends.

From your words, I see that the money has landed in good hands. Please
keep us updated as to what you achieve. There's nothing better than a
success story, even if you venture no further than your own local
community.

I wish you well.

Phil

Ah, yes. Diversify. This calls for a great Dave Barry quote:

"Let's take a look at your investment portfolio. In the current
market, you should have most of your money in something fairly
conservative, such as a coffee can buried under your house. If you
want to diversify, you might consider investing in two separate coffee
cans."

And there's more here: http://www.storyteller1.com/themarket/Boohoo.html

Enjoy! :)

Sincerely,
Boquinha-ga

happytom,

I can absolutely understand why you're happy now.  Congratulations on
your newfound wealth!

Certainly, your plans 1-5 are the right places to be focusing your
attention with the monies.  I'm glad you are thinking of others (as
well as yourself); this kind of unselfishness is what the world needs
more of!

Regarding your question of diversifying - this is easy. There are
hundreds of websites and financial advice places you can get
diversification information.  But diversifying first means identifying
your long-term financial goals.  Again, these sites can help you. 
However, it's not that expensive to contract with a professional
financial consultant, and I would strongly recommend that.  Depending
on your location (I assume it to be in the U.S., but maybe I'm wrong),
you can find good representatives from American Express, Schwab or
other investment / financial firms who can help you think about where
to put your money.  Some financial advisors are sharks - be careful -
but many are very legitimate, and want to do right by you.  Stick with
reputable firms, and you'll get good initial advice.

From your comments, it seems likely that you'll seek out the financial
advice you want / need to ensure that you're putting your money in the
right places, as far as investments are concerned.

Importantly, you seem to have the resources and desire to make a
difference to many people.  This is wonderful!  Teach it to others! 
But at the same time, look for causes that touch your own values, and
donate there.  There are many people in other countries who are
starving...do you want to help world hunger?  There are youngsters
right here in USA who have trouble getting a good education (which
might get them out of this poverty)...do you want to help them?  There
are rain forests in grave danger.  A good cause, but is your passion
there?

Use your values to determine where to spend your monies.  Presuming
they're good causes, you'll benefit as much from your contributions as
they will.

Stay true to yourself, and then help others.

Good luck!
VLA1

happytom,

If possible, before you sell any of your shares, consult with a tax
expert to figure out what effect this windfall will have on your
taxes.  Proper handling of your tax affairs now will save your
hundreds of thousands of dollars over the long haul.

Thanks everyone for the comments! The web is a truly wonderfully place
to share ideas and opinions.

Happy Tom

To make the best of those money is to start off with an checking
account.After get wut you need first is a car to get around in.Then
get a house to live in.Last you get a cereer to keep on building up
your money so it wont go down.