| Congrats!
There's been a lot of solid object level advice here...I'll just repeat some basic & meta advice in case anything resonates:
- you can't lose it if you don't spend it (aside from the real small negative yield from inflation outpacing banks' savings interest rate). - this is enough money to really provide a lot of investment opportunities, be extremely picky about a number of the first 'good' opportunities that come your way. There's a very good chance that you'll find better opportunities just by waiting a bit longer (where rate of return will make up for the opportunity cost of not investing). - this is enough money that's it's probably worth reading at least a few books about investing and wealth management. You spend thousands of hours a year to otherwise earn $150k, it probably makes sense to spend at least 1/100th of that amount of time to really become informed about how to manage an additional $150k. - the majority of non-profits and charities suck in terms of their impact/dollar efficiency. If you are actually trying to maximize your impact rather than donate to feel good (which is okay too! Just recognize when you are doing so), I'd hold off on donating to charities until you've done at least X hours of research per say, $1000k that you donate. Considering you make around $100 an hour, a few hours of research per $1000 donated probably isn't unreasonable. Additionally, the best charities aren't just 5 or 10x more impactful than the average ones, but probably 100's, 1000's, or even more times more impactful. - don't ignore the peace of mind that a solid runway from a variety of uncorrelated, fairly liquid assets may provide. Regardless of what happens--a solar flare knocks out our electric grid for months, the US defaults, banks can't let you withdraw cash for whatever reason--you want to know that you'll be able to incentivize other's labor and buy goods from other people. Cash, gold, BTC/ETH/Monero/Zcash/etc. in cold storage wallets, and perhaps even other 'currencies' like common caliber bullets or cigarettes in a safe deposit box and/or a safe at home, might be worth storing $5k or even more in. - consider using getguesstimate.com, www.causal.app, or at least Excel/Sheets to try to quantify the different risks and returns of all the options you are considering. The first two apps allow you to easily include uncertainty in your estimates of values, as well as do sensitivity analysis, which can help you decide which model inputs are probably most worth reducing your uncertainty about by researching them further. - when in doubt about a spending decision, especially if you haven't exhaustively researched and thought about it, just wait a day and sleep it off. And if you don't feel good the next day, just wait again. For most people, it's too easy to spend money and too hard to save it. Don't be like most people. |