So the original poster - who had $5 M in 2021 and $8 M now - is back to ask what to do with their life. It sounds like the poster is saying: My basic needs are met. Now how do I find meaning and purpose?
I would imagine being in my 80s or 90s, and thinking back on what I accomplished in life. How did I make my community better?
It's a cliche but once you don't have to stress about money, it really does feel better to give than to receive.
And it's empowering to see how something you're doing is making society, even if it's just your local area, better.
Earlier in the thread (4 years ago), the poster at one point said:

Anyway, maybe I will be a public school teacher again. There was a lot I loved about it.

The poster also fantasized about opening a school. It seems like there's something there. Maybe getting involved in education in some way is the key. It could be anything from being a regular volunteer or part-time aide in a low-income public school to going back to teaching to working for an education-adjacent organization or funding an initiative.
But anyway, yes, therapy and a career coach would be a good way to tease out goals, and getting involved right away in at least some small way with education (if that remains an interest) would be a way to test the waters. Good luck, OP, and congrats on figuring out the next chapter!

Anonymous wrote:

Anonymous wrote:Hit $5M invested assets this week, have teenager with fully funded 529 and a paid off home. Two working parents, one making $180k and the other part-time making $20k. Contributing max to 401(k) and Roths and HSA. I can’t figure out if we should be doing anything differently. Would you? If so, what? We are late 40s and not ready to retire.

Holy sh*t. At 200k HHI you have done very well. Congrats!

Had to be family money. OP is playing like they did it on their own.

Anonymous wrote:

Anonymous wrote:Enjoy your money!

My dad was similar to you. Saved everything. At your age he started to take vacations where he didn't pinch pennies.

Then he saved enough money to set his grandkids up with trust funds and pay for their college tuition.

So, basically: first goal: enjoy your money.

Then, set another savings goal. Maybe give charitably a bit more?

Yes, charitable giving has increased. We now give $500/mo. That feels right to us.

I have an appointment with an estate lawyer in June. I don’t think I’ll be able to easily switch from saving to spending myself, but my spouse may be a different sorry!

$500 a month!! How about a few thousand a month? We give more than 10% of our income.

Anonymous wrote:This is all a bunch of bs...never an answer about how they were able to save 5M on 200K HHI. Then come back a couple years later and 5 million has turned into 8 million...give me a break.

+ 1. I can’t believe how few posters aren’t questioning these figures. OP budget was ridiculously tight without the mortgage they had just paid off.

This is all a bunch of bs...never an answer about how they were able to save 5M on 200K HHI. Then come back a couple years later and 5 million has turned into 8 million...give me a break.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Four years later. OP back. Kid is in college. Invested assets (married couple) now a touch north of $8M. Paid off townhome now worth $825k. Earned income $300k give or take. Have taken several vacations with a higher budget (Europe, Hawaii, Northwest US, Miami Beach). Expect $1M inheritance (remaining parent north of 90 with $6M and three heirs.). College account funded with $400k for remaining years plus grad school.

So what’s changed? Well my company got acquired and all of my management has been reassigned or retired. The reassigned job for me is very unsatisfying. I don’t think I’m ready to retire but I need some DCUM posters to knock some sense into my head. Spouse is working PT with no benefits making $23/hr.

How do I make a plan to get unstuck? Would a therapist help?

What is your ideal job, and how easy would it be to find it somewhere else given that money is basically no object now?

That’s what I need help with. I’m stuck. Are there coaches who help with this kind of thing?

I have worked with a career counselor in the past. She is a PhD psychologist, who focuses on career counseling. I think talking to someone like this would be beneficial for you, OP.

Anonymous wrote:5 million is what you need at 67 to retire. At 45 you need at least 10 million

Just stop it!

OP: Therapy is better than waiting for a heath scare. I hope you make the plunge and retire. Good luck and thank you for the update.

Work at least until the next president takes the office. You want to be working if things go sideways.

Personally, I’d up my charitable giving and my volunteering. Great example to set for your teen, meet new people, and fulfilling to boot.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

You should talk to your accountant. He can help you balance out what you "should give" with how much you want to give. (Of course in the end, you make the decision). Our case is a bit different, and our HHI is a lot higher; but we give about 10%

Our take home pay is about $7,000/month. You make a good point, which is that folks who have high assets tend to have high income. We do not, and that complicates things. My choices are to cut back on savings, which feels odd, or to sell investments, which feels even odder. I think that is the crux of the issue. How do we "enjoy and give" when we don't have a lot coming in the door?

Why is your take home pay on $7000 per month if your salary is $200k per year?

Taxes

Anonymous wrote:...We don't limit ourselves or really deny ourselves anything. Just wondering what others would do in this situation. Would you really reduce retirement savings? If so, what would you do with it?

No, don't reduce retirement savings - those have favorable tax treatments.

I would keep living how you are living and save your 5million for when you are older.

My parents' eldercare is insanely expensive. It can be hundreds of thousands a year.

I mean , live life. I'd probably up my travel budget and have better vacations. But don't quit. If you were like "I HATE MY JOB IM MISERABLE" that would be one thing but you said you are not ready to retire and I think that is wise.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Hit $5M invested assets this week, have teenager with fully funded 529 and a paid off home. Two working parents, one making $180k and the other part-time making $20k. Contributing max to 401(k) and Roths and HSA. I can’t figure out if we should be doing anything differently. Would you? If so, what? We are late 40s and not ready to retire.

5 million is suggested amount to have at 65. At 50 you need at least 10 million

Wait what?

Crap, that means I needed $100M at birth. I did this all wrong.

Anonymous wrote:Start saying exactly what you think at work.

This sounds nice!

This jerk is back? She inherits money and acts like she's done something amazing, and when people, ask how she could have that net worth on her HHI, she responds mind your own business. But she started the thread! Lol.

Anonymous wrote:

Anonymous wrote:Four years later. OP back. Kid is in college. Invested assets (married couple) now a touch north of $8M. Paid off townhome now worth $825k. Earned income $300k give or take. Have taken several vacations with a higher budget (Europe, Hawaii, Northwest US, Miami Beach). Expect $1M inheritance (remaining parent north of 90 with $6M and three heirs.). College account funded with $400k for remaining years plus grad school.

So what’s changed? Well my company got acquired and all of my management has been reassigned or retired. The reassigned job for me is very unsatisfying. I don’t think I’m ready to retire but I need some DCUM posters to knock some sense into my head. Spouse is working PT with no benefits making $23/hr.

How do I make a plan to get unstuck? Would a therapist help?

What is your ideal job, and how easy would it be to find it somewhere else given that money is basically no object now?

That’s what I need help with. I’m stuck. Are there coaches who help with this kind of thing?

Start a fund to pay 20 years of health care premiums, and one-two year living expenses to deal with SORR. Then retire.