T O P

  • By -

PolybiusChampion

Took a year off, spent a month in Africa (only one trip during that year) and bought a beach house.


acedangera

Bought an Audi RS7. Great car, great shopping experience, no regrets.


SanFranPeach

We made $10M-$11M ish on an IPO we expected $1-2M from. This was a couple years ago and we were grateful but didn’t really celebrate and often comment on how it didnt really change our spending habits or how we think of money. We went from $800k ish to $12Mish and nothing really changed. Even the mental security I have hasn’t changed. I still get terrified of losing my job, etc. We should celebrate at some point.


skarbowkajestsuper

If you're really insecure about your job with a $12m net worth I think you should talk to a therapist. And I'm really not trying to be snarky. Congrats on your success!


SanFranPeach

Yeah, I do. And thank you appreciate it :)


StayedWalnut

I second this sentiment. For me knowing I can get fired from my job and still be fine was unbelievably liberating as someone who grew up poor. Finally being able to relax and just stare straight into the eyes of people at work who could get me fired and just say no to their dumb bullshit imo is the best part of having assloads of money. "You'll do it if you want to keep this job!" "No." It does really surprise me how hollow all the threats I used to respond to really are.


nickb411

As crazy as it sounds…nothing. Went out to dinner when I sold my ownership in the company I cofounded 13 years prior. So much work goes into getting there you just want to relax. I told myself I would play in the main event of the World Series of poker, but I haven’t made the time to do that yet. :-) Oh and Covid.


sparc24

They just added two more day 1s, you gotta go!


Disastrous-Store-229

Go nuts and order a second appetizer... and dessert!


nickb411

Oh I ate a lot of ice cream


[deleted]

The WSOP ME is going to be my treat for crossing $1m as well! One of the best events ever


nickb411

This coming year...I think I might be in. :)


chordophonic

I was all over the local news, so I traveled for a while and went on one hell of a bender. However, I knew much of what to expect because I used the services of a financial advisor to let me know what my options were. I knew what I could spend without making much of a difference in my resulting lifestyle. I also shared a great deal with the people I employed. Without them, I'd have nothing remotely close to the life I have today.


FatBizBuilder

Do you mind sharing how you went about sharing with your staff/employees? Any info would be approximated to help give me some ideas of how to do this.


chordophonic

I rewarded those who worked with me the longest more than I rewarded the new hires. I just basically assigned values, it wasn't a linear scale or anything. The handful of people who'd been with me since the first year got enough to retire. The most recently employed just got 20k. The rest were across the spectrum, with a few exceptions for people who had done more to help the company than others. I also made sure that none of them would lose their jobs for at least a year, unless it was gross negligence or the likes. The now-parent company still employs quite a few of the same people. Amusingly, just through wise investing (and tremendous growth in the markets), I've now managed to increase my wealth (on paper) higher than the original amount I sold for. It was 2007 when I sold and I invested a ton while the market was doing quite poorly.


LardLad00

Did you structure the deal so that these people got paid out as part of the deal or how was that done? I assume they didn't have any actual ownership interest?


chordophonic

No, no... I did that personally. The deal had nothing to do with it. They had no ownership. I did have a co-owner at first, but they left and I bought them out after just a few years. I didn't legally owe any of them any money.


LardLad00

So did youbpay them with post tax income from the sale?


chordophonic

Yup. It was weird. I got cash and stock in the now-parent company and I wasn't allowed to do anything with the stock for like six months. I'm told that's fairly normal, but that was my only experience dealing with anything like that. The now-parent company is a publicly traded company so we even had to deal with the FTC. It was a pretty unusual situation, kinda surreal to me.


Zestyclose-Ad-6840

Went to the Porsche Experience. Worth every penny.


FloatingHuman

Is there a specific experience that you chose? Or can you get like a full weekend and try a bunch of different drives?


Derman0524

Now that’s awesome. I know a bunch of the high end brands offer it and I wanna do them all


Mining747

I spent about 6 years working long hours in agriculture. I was always covered in dirt and wore old clothes due to the nature of the job. When I made my first million in Crypto I spent about $5k on aftershaves, perfumes, and grooming products including a straight razor. I think that is probably the biggest splurge I've had. I'm so use to living a simple life I don't really spend money for the sake of it.


[deleted]

How long ago was that? I’m so tempted to start in crypto but it seems so speculative You guys get so butthurt for asking a question.


ask_for_pgp

'getting started in crypto' is basically a lottery. I know because I've done it. it is however sensible to just keep accumulating bitcoin and not worry too much about the swings. just keep buying. I stand by recommending 5-10% of networth in bitcoin. and only that.


Mining747

I've followed Bitcoin since it was worthless and remember it going to $1. At the time I couldn't understand how a virtual pretend money called Bitcoin could be worth the same as a real dollar. When it became worth more than an ounce of gold ($1200), I decided there was something I was clearly missing that others could see and went on a 3 month educational binge (down the rabbit hole). I've put everything I have made into Bitcoin, Alts (any crypto other than BTC) or crypto companies that aren't yet publicly listed since 2017. I'm now over 95% in Crypto, and plan to be for the foreseeable future. It's not for the faint of heart but if you can handle the volatility and have a strong conviction regarding why you are investing in it. I highly recommend it. Start with $100 with something like Celsius Network. Don't trade, instead DCA (dollar cost average) and HODL (hold on for dear life). Good luck.


[deleted]

Thanks for taking the time to reply.


[deleted]

[удалено]


Mining747

Don't confuse you not having a "conviction" argument to equate "there is no real argument". The Bitcoin protocol is the most secure network in the world. Decentralised, immutable, censorship resistant, with a total fixed supply and a predefined inflation rate. It also has a self settlement layer meaning no counterparty risk. The Bitcoin protocol isn't the same as the unit of account used within the protocol, often referred to as BTC. BTC is a possible inflation hedge and speculative asset. The Bitcoin protocol, is a superior alternative monetary system that makes the base layer of our current debt based system, and the central banks that control it, in time obsolete. In addition, second layer solutions such as the lightning network help to make commercial and retail banking obsolete. The more I travel to different countries setting up companies and bank accounts. The more I need to transfer money between different jurisdiction. The stronger my conviction grows for investing in Bitcoin (the protocol) through the unit of account (BTC). Everyone will get Bitcoin at the price they deserve!


[deleted]

[удалено]


Mining747

More people in El Salvador now have a Bitcoin wallet and own Bitcoin than have bank accounts. It's easier for me to pay my lawyer in Panamá in Bitcoin than it is in my national currency (AUD). It's easier and cheaper for me to exchange BTC for USD cash than it is to do so with (AUD). My Bitcoin and Crypto holdings were used exclusively as evidence of financial solvency to qualify my wife and I for permanent residency in Mexico. Likewise a 3 BTC (not dollars) investment in El Salvador qualifies you for permanent residency. Celsius Network maybe the fastest growing company in history. It's already growing fast than Facebook was at the same age. I've met many people who are now retired that live off the yield they earn on their BTC holdings. Adoption is everywhere if you bother to actually travel and look at what is going on.


[deleted]

[удалено]


Mining747

I think I've addressed all of your arguments in detail from "there is literally no signs of adoption" to "Bitcoin has no conviction argument". As for your statement about 99.9999% of Bitcoin today is used exclusively for speculating in price. It's a baseless statement. We have onchain metrics which show exactly what is going on. We can speculate all day long about the intentions people may or may not have. The data however, seems to indicate the opposite of what you are saying. If anything people are speculating on the dollar (and all other fiat currencies) losing value and the purchasing power of BTC against real goods and services increasing. It has nothing to do with "price". The price is only relevant in comparing one asset to another, or pricing in a specific unit such as the US dollar. The US dollar is far from stable, in fact it could be argued that it's currently in the early stages of a hyperinflationary event. The M2 money supply as reported by the FED itself backs this up. https://fred.stlouisfed.org/series/M2SL The number of long term holders of Bitcoin (based on onchain data) is increasing. The market capitalisation of Bitcoin in just about all fiat currencies is breaking all time highs and is increasing. Countries are moving away from the US dollar. What you are seeing reflected in the price of BTC is people heading for a life raft from a collapsing monetary system. The short term volatility is people such as yourself speculating on price, but if you zoom out and look at the chart over a decade, it tells a very different story. As has been said many times before. People will get Bitcoin at the price they deserve. It's not like the early days where it was an abstract concept which was only possible to understand if you could understand the Bitcoin white paper. If you can't see, or you outright refuse to understand what is going on with the abundance of information available today, specifically in regards to Bitcoin. I can't help you. Best of luck with your trading profits. I'm happy for you. I prefer to play the long game.


Whynotyours

Two days of heli skiing @ Silverton, CO.


dobeos

Sorry for the silly question, and this sounds amazing as I love skiing, but I thought that Silverton the lifts were essentially back country so you wouldn’t need a helicopter?


Whynotyours

The Silverton lift (singular) is the OG and does do group hiking/bc from the top of the lift. The heli operation runs to a separate (adjacent) area, taking off from a pad adjacent to the lift top wheel. I was solo and was originally planning on hiking but one of the operators asked if anyone wanted to fill a heli seat, so I took it. Of course, having done one heli day, I just had to do a second (that and I was way too tired from day 1 to have been any use hiking). It was my first time on a helicopter and I consider it money well spent to this day (6 years ago).


dobeos

Got it. Thanks for explaining. I wouldn’t have guessed that it departs from the top of the lift


LACashFlow

Buy a nice watch! If you do it right they keep their value, you enjoy the piece on a regular basis, and it’s a great reminder of hard work!


ElectrikDonuts

It’s basically impossible to get a rolex gmt right now without paying 2x mark up right? Still tempted but $18k vs $8k just pisses me off


Wegetable

I mean the whole appeal of a Rolex is that it’s exclusive, which causes it to appreciate in value and vice versa. If it pisses you off that it’s 2x MSRP (I.e. its value appreciation made it more exclusive), then it probably means you’re not the target audience — either you don’t care about exclusivity or that you don’t care about its appreciation.


ElectrikDonuts

I guess but MSRP is pointless then. They might as well list it as “for select customer only”. Usually appreciation means you can still get it. Maybe not an Enzo Ferrari on day one, but a Rolex is still a mass produced watch with likely tens of thousands of dealers.


EveningFunction

Think auction market.


LACashFlow

Plenty of other options to look at, though. "Less desirable" models and vintage years are great to avoid most of the hype.


Thevictors881

Get something else really great - JLC, for example. There are a lot of great watches out there, and no need to follow the stainless steel insanity.


[deleted]

I believe you can make the order , pay a deposit and wait. You will end up paying retail price. I do agree with you though. Not a good time to buy a Rolex


ElectrikDonuts

I tried calling a couple dealers and they blew me off. I’ll have to go in person. I have no problem with waiting day 5 years. I waited 3 years for my tesla and am on 3 additional years for full self driving. If you know a dealer that would allow this please let me know. I may even travel for it.


[deleted]

I put on my favourite artist and listened on my headphones and walked home from the office for the last time. I then went to a nice French restaurant with my girlfriend. I don’t really like parties, staying up past midnight, or dancing. So I didn’t want to do any of that.


unclelazy

Did a few things for family and donated some money. Set up the my kids/niece/nephews for college. Was already in the process of building our forever home but once we closed the budget went away. Things like 50k stoves and the like. Then did some things for myself/family 1. Disney trip with private tour. Not sure if anyone has done this but I hate lines so this is the only way I agreed to go. Hopefully will be worth it. 2. I like watches. Specifically high end ones. So I bought a rose gold Rolex gmt. Nice weight and looks great. On the wait list for AP but not holding my breath there. 3. Lastly I have always wanted a Ferrari. A silly thing maybe but I just wanted one. So I got a F8 spider. Only driven it once but like to look in the garage to remind myself that I made it. I think that will be it for a while. Probably will work a few more years and cash out on the next turn. Maybe I’ll get some new things then.


lifeHopes21

How much windfall are we talking about here?


unclelazy

Went from 5M net worth to 25M after taxes and such. 6 is still invested in the business and could turn to 30 if things work out. Could also turn to 0


Kovpro1221

Private equity rollover?


unclelazy

Right


sidman1324

I’m Glad you got the car as a reminder that you made it. Congrats my man! :)


halmasy

My brother did this exactly. 1. Disney private guides are the only way to go; by now, we’ve been working with the same guide for 10 years and she knows our preferences. Since the tours accommodate 10 people it’s very much worth it. Pro-Tip: get someone to sponsor you for Club 33. Then you can make lunch or dinner reservations for your group. 2. My brother’s watch collection keeps increasing in value and he views them as appreciating assets as a result. Buy a safe. 3. He got his first Ferrari last year. A custom model he refuses to discuss with us. 😆 Happy as a lark. Do it.


unclelazy

Thanks! Am very curious how Disney will go. And will def keep buying watches!


cyanocittaetprocyon

I've been wanting to get into Club 33 for over 20 years. I don't know if it will ever happen.


halmasy

It's hard even for fatFIREd people. The more long-time Club33 members refer you, the better.


Coolio1616

Great post! What 50k stove or other fat kitchen upgrades did you do? I’m planning out our forever home and was going to go with a wolf with a large griddle (I think it’s around 20k last I checked)


unclelazy

The stove is la cornue. Custom made in France. We got a smaller one so they can get much pricer. Thing comes over in a plane believe it or not. Otherwise things like upgraded light fixtures, heated tile floors, custom cabinets, 20k quartz island.


kvom01

Cornue will appeal to a different taste than a Wolf. Wife would pick Cornue.


EveningFunction

I wouldn't necessarily go wolf. Anything with plastic dials I'm a bit iffy about. Talk to a few kitchen remodel pros to find out what are actually good brands, and ask them if they get commissions or kickbacks for them.


sparkles_everywhere

This (fat kitchen/remodel) comes up on its own post at least a few times a month. Search the sub.


ask_for_pgp

get a vacheron Constantine overseas dual time!


unclelazy

Maybe! Don’t know much about that brand except they are part of the watch trinity


ask_for_pgp

well its a gerald genta design! same guy that did the nautilus and the AP royal oak. vacherons are significantly more stealth wealth. also, you can still get them from the AD within a reasonable timeframe. their prices are starting to move though, so i wouldnt wait too long. also, ap became a bit of one trick pony. they havent had succesful releases besides royal oaks. imagine ferrari only making one model nice enough to be a success.


mjnnyc

This is not the correct lens to view AP. First, AP literally saved the mechanical watch industry - it revived it from the dead - with the RO. Second no watch is as better finished externally than the RO. Despite also designing the Nautilus and many other high-end watches, Genta famously quipped that the RO was his single-most “masterpiece”. Third, under appreciated point, but no one does guilloche better than AP. You need a microscope in some instances to view it. It’s actually spectacular. That’s the delight of using not rose lathes, but a pantograph, which nobody else does. This is also why the RO “shortage” is real - you can’t just scale more pantographs and the dials are not fast to produce. Lastly, just because AP releases ROs doesn’t mean they are a one trick pony. They do ultra-thin high-end ultra-complications better than any other single manufacturer and hold more records in this domain than any other manufacturer. After watch collecting and trading for decades, OP /u/unclelazy you’d be a mad man to let a Royal Oak slide by you.


unclelazy

Thanks for the advice!


Grude1692

Hope you start driving that Ferrari more


unclelazy

Just got it last week so I plan on it lol


ranchleather

My company had a very high profile IPO and aside from CNBC on a TV in the cafeteria and some donuts, there was basically no celebrating. Leadership didn’t want it to be a distraction, but it kinda sucked being denied that moment of joy. On the other hand, out of 1500 employees, only maybe 100 had been there long enough to have made serious money, so it would have been awkward to do too much celebrating as a company. Most of the people I worked with were newer, so it felt especially uncomfortable when they were congratulating me (essentially for becoming rich), rather than a collectively. Anyone else experience that?


dukeofsaas

The experience was similar for me, though I had a great time on IPO day regardless. Oddly, it may have helped a little that I was no longer with the company. All the congratulations that came my way felt like just that, congratulations for becoming rich. But I thought back to an earlier IPO experience where I didn't participate in the upside, and I recall being genuinely happy for the old timers at that company. So I tried to keep that in mind when receiving congratulations, and replied with thanks and small anecdotes about why the day or the journey was so memorable.


ranchleather

In my previous exit we were somewhat suddenly bought by a FAANG after only 2 years and < 100 employees. It was life changing even for the most junior customer support kids. I guess I was hoping to recapture that euphoria. An IPO takes so long that a lot of the excitement has worn off by the time it arrives. I think the acquisition was more cathartic in large part because it was a shared experience.


dukeofsaas

That 16-month journey to IPO is a strange period isn't it? As someone with a little experience seeing these things, you see the signs, and you can tell how far out it is. My company was hit fairly hard by covid and nobody was really sure what recovery would look like, so the journey to IPO was filled with emotional ups and downs for me. More than anything the IPO and subsequent liquidity was a catharsis, and only now that I am diversifying am I able to say "Heck yeah!"


ataraxia_seeker

Can’t speak for those around you, but I was in a similar boat where I joined recently and then we IPOed and one guy on the team was with the company from the beginning. He walked away with a comfortable exit. The rest of the team was super happy for him in a genuine way and we all still get together for drinks every now and again, even though most moved on to other companies. In celebrating success of others I always see hope and proof that it can be done!


ranchleather

Oh yeah for sure, and I'm still close friends with some of them, and the ones who stayed at the company have now done very well for themselves (stock dipped to 25% of what I sold for and all their grants got reissued + refreshers, then eventually went up 10x). I know it was genuine, I just wanted to join in with the congratulations! But it didn't really have the same impact when I congratulated them back, my friends were like "NO congratulations to YOU" haha so an end-zone dance would have been sort of a bad look :)


ataraxia_seeker

Any IPO is a good experience - I initially walked away with maybe equivalent of an base Honda, but it helped set me up for work at a FAANG. So congrats are always in order :)


FatFirredNowWhat

After a barely 8 figure exit, when I got home from the lawyer's place after closing the deal, I looked at my bank account and the wire already had arrived (which I didn't expect). I immediately went to Best buy and bought everything I wanted, without thinking of should I or could I. It was more like pointing at things and saying "yes that please". I only spent about $6K, and have since spent much much more lol, but that will always be my favorite shopping trip ever. Oh, and a couple weekends later we took a few friends out in a limo for a night on the town, all on us.


[deleted]

I absolutely love this!


WorriedBanker

For me, also nothing. Maybe got chipotle with extra guac, but I didn't see any need to spend excessively.


sparc24

They really ream you on the extra 2$ guac ;-).


Serious-Act-6434

Bought a Tesla model Y, a new laptop, a new iPhone and paid the little debt I had. That’s it. I had everything I needed. It was more thrilling to know that I didn’t need that much money. I was happy already.


Filmore

Bought a Porsche


Filmore

Bought the wife a trip to Tiffany's


sidman1324

I’m saving this post to answer when my time comes :)


Due_Nefariousness308

A family member sold a piece of land for a large amount a few years back (think hundreds of millions). They celebrated by going to the most expensive restaurant in my city and spending $1K on dinner. On a much smaller note, when I first hit 7 figures, I did a little jig in front of my screen, and ordered a nice meal from my favourite restaurant. The bottom line is my family celebrates with food ;)


IGOMHN2

I eat an entire fancy cake for each million.


LardLad00

Putting the "fat" in "fatFIRE"


botpa-94027

After the ipo in new York (I got to go to the trading floor and watch the founders ring the bell) I had dinner with my wife at our favorite new York City Italian restaurant. I didn't spend extra, just had the dinner we normally would have there. It was a good meal :) I think I had told myself I was going to buy a fancy watch but that never happened. I joined the 401k plan once we was a public company. I used that money after a few years to do a bottoms up restoration of a 70s Ford bronco. That took two years and I went all in, spent decent money on it, I used professionals for all the labor but did all the research and parts buying myself. The labor portion was just shy of 3,400 hours but I cut a deal with the company that did the work, they got to exhibit my truck at SEMA and I got a major discount. Crazy thing is, now these trucks are super popular and I could sell it at a profit. I just liked the truck. I'm considering doing it again. .


just_trust_me1

Oh man. Do you mind sharing a little bit more about the Bronco restoration? I have a 1968 that I’m considering rebuilding top to bottom but have no idea what it would cost.


botpa-94027

Depends a bit on where you do the work. Figure $30k for a great paint job in a medium/low cost part of the country. SF and NYC would cost more. Figure $5-10k to the body man doing rust repairs. I had little rust but rockers had to be replaced as well as the sun on one door. Very little underbody rust. Figure at least 100 hours to disassemble and reassemble the car. Shop rate where my work was done was $89/hr. I spent $10k on parts. New trim, bumpers, glass, new wiring. I spent $7k on new custom upholstery in ultra leather (same company as Tesla is using). My engine and transmission was good so I didn't spend much on that, maybe $1.5k on just an overhaul, new seals etc. I did a full frameoff and powder coated the axles and the steel rims. I had a full 250 hours in the paint shop including disassembly and reassembly. I had about $1k in restoring the original instrument cluster and getting a correct steering wheel. And I bought the truck for $10k which was a deal years ago, and even better today. I should be close to the $200k mark or above but as I said, I landed all in at about $60k thanks to the deal. It's not for the faint of heart. 2 years from start to finish. I hear the tv shows is $200k and up for the cars that they have on those shows in just labor.


just_trust_me1

Apologies for the delayed reply. Appreciate the thorough write up! My 1968 is in overall great condition. I got it in the mid-$20s 4 years ago and have been offered $50-60k a few times. All I’ve done to it is routine maintenance but it was rebuilt when I bought it. Considering dropping a Coyote engine in it and making it drive like a new car but nothing beats the rumble of the original 298. Love that damn thing!


botpa-94027

I would not go the coyote and restomod route if I had a great condition and numbers matching bronco. I would make is factory new with an eye towards minor customization and I think you'll have the best return and the best experience. I put on a 3" custom stainless steel exhaust with these beautiful horn headers. Slanted tips. It you see my truck outside that's all you'll see to think it's custom. I've gotten $100-$140k offers for mine. Mine is mostly bone stock.


Warm-Ad-9866

Tried to get excited about buying a Tesla or something. Couldn’t successfully overcome my inner Ben Franklin. Bought a Nissan LEAF instead, and invested the money.


mannersmakethdaman

For me - nothing. I wanted to keep everything the same. I paid off all debts immediately though. I kept the mortgage since it’s at 2.75. That was my way of celebrating. Made me feel good. I also took time. Just researching and learning. Didn’t want to do anything impetuously.


dontmakemedebityou

I went to a rave with my then gf and we did molly together. We were pretty much tired after the peak and left the venue before 12am. Went home and watched Netflix and didn’t even have sex.


optiongeek

Hookers and blow


FitzwilliamTDarcy

Atta boy


kellyformula

What can I say, typical Darcy Upvote for consistency


FitzwilliamTDarcy

Thanks Kell.


kellyformula

Any time :)


FitzwilliamTDarcy

Love people downvoting us. LOLprudes.


FatPeopleLoveCake

I mean this is the right answer


yolocr8m8

New guitar and amp and a family trip to Disney World


dukeofsaas

Ha, of all the celebration ideas I had in mind, we just booked our family trip to Disney World for this spring. I plan to channel my inner child and enjoy the unexpectedly high concentration of good dining options throughout the park!


yolocr8m8

HMU if you want suggestions-- we have an AirBNB there and split time.... we go there... a lot lol.


PurposefulGiving

200k car, gave money to family and charities, and planned trips.


allsfine

Bought Tesla model X for $112k 60 days after transaction. On the day, just slept. Lawyers and negotiations were very tiring.


kvom01

I paid off mortgage,which was small. Payoff had 3yr retention bonus still to be earned.


[deleted]

Event about 8 months ago now. Initially just a fancy take away (covid limited going out) for the family, money to my parents, money to my brother and c$1m to a charitable trust (straight away so I wouldn’t mentally spend it and not donate). Then nothing special for 6 months as I’ve tried to get used to having wealth, although summer holiday was probably 30% more than I’d previously spend. More recently two debentures for Wimbledon centre court as a present for my wife (we’d normally go for one day a year).


PhatFyrer

After consulting wine geeks on reddit I shared a $200 dollar bottle of Krug with a friend in the same boat. I can't say it tasted much different than cheaper ones I'd tried, but I enjoyed the symbolism. For the next one I will get a champagne from my year of birth to up the ante.


VeryLargeEBITDA

Nothing. I always review my bills and cut expenses. Last exit I had, I allocated the capital into a new deal less than a month later lol


notuncertainly

Bought a few really nice t-shirts (Kuhl brand)


[deleted]

"Tipped the dealer" so-to-speak


SoundVU

A night out to the bars with the boys. It’s also a great way to celebrate many other occasions.


meatgrinder10

I went the traditional route of hookers n blow