@blessed2day Nah just reduce spending. 18k is a lot. And I think you still need to work. The work part I know is what you are reluctant now. But on the bright side, you have 2 mil, good job man.
@blessed2day Hi, I (23M) was in a similar boat with you. Albeit, instead of selling a business, I received an inheritance which is a similar/ larger sum compared to you.
I have since almost fully allocated the monies so I'm happy to share my portfolio with you. Feel free to DM me to connect, would love to share ideas and experiences with someone in similar situations.
@blessed2day Here's an interesting point of consideration. One of the pioneers of FIRE movement who had retired in early 30s with 3 million USD also have to return to work once he started to have children and need to consider their future education.
I'd say unless you insist your kids to study in a local public university, you'll need to prepare anywhere from 200k (local private) to 1 million (overseas) for each kid...
If the business generates a net profit and your takeaway > household spending consistently, i think its better to withhold selling. Consider finding methods to increase valuation before selling off would probably be what i do in your situation. But if takeaway < household spending then selling off could be a solid deal
Whatever you do, its best that what you earn is at least equal to household spending, or else the 2 million will bleed and there wont be enough time for you to compound it in the market
Invest your time and energy into researching financial instrument that will return a decent yield such as investing personally using brokerage like IBKR for ETF/Stock. I personally would avoid Financial Advisor as the fees can really mess up the returns unless its only for consultation/project/hourly fee basis and not stuff like asset under management fee etc
Feel free to leave constructive criticism to correct me if anything above seems wrong, I look forward to learning as well =)
@blessed2day doesnt drawdown mean how much unrealised losses you have? Also klse and vwra are down only pick something better i recommend putting 90% of that 2m in some sovereign safe fixed income thing and using the yield from that to make another business or invest in tech.