Hi all,
Using a throwaway account for obvious reasons.
I recently sold my company (cash deal) and now have about $4.8M (after taxes). I'm planning on taking about 6 months off to travel, buy a house, and invest a little before starting my next company with my partners.
I've been doing some research over the past few weeks, but I would love some advice from people who know more than me. I've been looking into safe things like CDs, mutual funds, real estate, etc. I'm also looking at a few startups because I know that game best.
I don't have a 401k, IRA, mutual funds, stocks, or anything right now. I've been listening to Dave Ramsey quite a bit and he's big on mutual funds. I also want to set aside some money to invest in things like cryptos, penny stocks, and startups.
Also want to set aside some time and money to volunteer and give. My brother graduated dental school and is a couple hundred grand in debt so I'd like to pay a small chunk for him. I'd like to help my parents and sister/brother in law with their homes as well. Should I stick to the gift limit ($12k per year I think?), or can I give them more before they have to pay taxes on that money? What are the tax benefits on donating as well?
Big thank you to anyone who responds.
Submitted January 30, 2019 at 05:12PM by companysoldthrowaway http://bit.ly/2WwKVs5
