videogames101
Diamond Member
- Aug 24, 2005
- 6,783
- 27
- 91
I'm in awe that any of you actually believe this crap story. "I sold a company but I won't even tell you what it was yada yada yada" Seriously, there is no reason to believe this story. The OP is doing some typical ATOT e-peen stroking. If he posts a single, solitary verifiable fact regarding this epic sale, THEN feel free to chime in without sounding unbelievably naive.
At this point, you have one goal:
Make that money work for you instead of you working for the money and do it in the best way possible.
That means multiple types of investment. For starters, you need to get yourself the best lawyer and some top dollar guy to manage those finances in terms of investment. Seek several professionals from several sources. Always consult the lawyer before making major decisions. There is a ton of other smart things to do, but experts like that will help get you started.
Make that money work for you instead of you working for the money and do it in the best way possible.
That means multiple types of investment. For starters, you need to get yourself the best lawyer and some top dollar guy to manage those finances in terms of investment. Seek several professionals from several sources. Always consult the lawyer before making major decisions. There is a ton of other smart things to do, but experts like that will help get you started.
skulkingghost
Golden Member
- Jan 4, 2006
- 1,660
- 1
- 76
invest invest invest...
And im going to guess your company is http://www.coolaccess.com/
since its in your at profile.
And im going to guess your company is http://www.coolaccess.com/
since its in your at profile.
While in college, invest 80%, 10% to some charity, 10% to your college expenses (food, rent [?])
His purported forum email address is nick@coolaccess.net, maybe he sold the ISP:
http://www.coolaccess.net
Of course if he's 18 now ... back in 96 when the company was started ... that'd make him 7 ...
His myspace profile says compUSA ... maybe the shareholders bought him out ...
http://profile.myspace.com/ind...file&friendID=71543195
http://www.coolaccess.net
Of course if he's 18 now ... back in 96 when the company was started ... that'd make him 7 ...
His myspace profile says compUSA ... maybe the shareholders bought him out ...
http://profile.myspace.com/ind...file&friendID=71543195
My mom is a financial advisor.. a REAL one with a MBA, RFC, FIC (CFP)
pm me if you want more info
pm me if you want more info
I think at this point what he needs is a SERIOUS website.
I'll hook you up with all the bells and whistles. Animated email icons, a google map link ... and pictures of babes and cars ... also you'll need a hater section to post hate email ...
Don't worry about cost ... it's an investment in your future ...
I'll hook you up with all the bells and whistles. Animated email icons, a google map link ... and pictures of babes and cars ... also you'll need a hater section to post hate email ...
Don't worry about cost ... it's an investment in your future ...
TwiceOver
Lifer
- Dec 20, 2002
- 13,544
- 44
- 91
This could be true. From the looks of the ISP it is a fixed point wireless system. There are a few companies buying these up that are looking at using the licenses radio spectrum for WiMax. This company looks like it has multiple towers, making it worth that much.
just a thought.
STOP.
Guys. I have a feeling this isn't legit. I think he found a submarine full of South American cocaine.
I think you are in need of a money laundering service.
For a nominal fee, I can sell you the Vaporware 2000 title we refer to internally as "The Cleanser 2.0" ...
PM me if interested ...
Guys. I have a feeling this isn't legit. I think he found a submarine full of South American cocaine.
I think you are in need of a money laundering service.
For a nominal fee, I can sell you the Vaporware 2000 title we refer to internally as "The Cleanser 2.0" ...
PM me if interested ...
GTaudiophile
Lifer
- Oct 24, 2000
- 29,767
- 33
- 81
Yeah, get a real financial advisor.
Change your address, phone number, e-mail account.
Keep your lips closed about all this.
Invest it, live off the interest. A Veyron would be stupid.
The start to think about what you want to do with your life. College? Travel the world? Think about where you might want to live and then think about real estate. House in Italy or Switzerland perhaps? Think on broad terms.
Going and buying a bunch of crap will just make you poor in 10 years.
Change your address, phone number, e-mail account.
Keep your lips closed about all this.
Invest it, live off the interest. A Veyron would be stupid.
The start to think about what you want to do with your life. College? Travel the world? Think about where you might want to live and then think about real estate. House in Italy or Switzerland perhaps? Think on broad terms.
Going and buying a bunch of crap will just make you poor in 10 years.
DrPizza
Administrator Elite Member Goat Whisperer
OP, if you're serious, then why not look at the stickied Child's Play Children's Hospitals thread and consider matching what's donated? It'd encourage more people to be charitable to children in need during this holiday season.
-DrPizza
-DrPizza
kranky
Elite Member
- Oct 9, 1999
- 21,019
- 156
- 106
Assuming you're not trolling us, this is what you should do.
Get a financial advisor. It's not because you might blow through through $10 million if you don't have someone holding your hand, it's because you need to approach your financial plan with taxes in mind. You need an expert to structure things to minimize the tax situation.
With that kind of money, you cannot ignore the need to organize your assets with taxes in mind. Actually, I hope you had a CPA or tax person advising you throughout the process of selling your company so the tax implications of the sale have already been addressed.
Of course, you can buy an expensive car and an expensive house and not feel it, but again, taxes could be minimized if the transactions are properly structured. A little planning up front can save you a fortune later.
I know some people think if you have enough money then taxes become irrelevant, but consider the poor people who were financially ruined by the stock options they received during the dot-com boom. Here's an example of what happened - an employee was given stock options when hired. Two years later, the stock has skyrocketed, the options are worth $500,000 and are now able to be cashed in. The employee sees the stock continuing to climb so he holds on to the options. The end of the year passes, the boom ends, and the stock drops like a stone. For tax purposes, the employee owes income taxes on $500,000 because that was the value of the options when they were able to be exercised. The options might have become worthless a year later, and the employee never received a cent, but that isn't the way the tax law sees it. Imagine - taxed on $500,000 you never even saw.
Get a financial advisor. It's not because you might blow through through $10 million if you don't have someone holding your hand, it's because you need to approach your financial plan with taxes in mind. You need an expert to structure things to minimize the tax situation.
With that kind of money, you cannot ignore the need to organize your assets with taxes in mind. Actually, I hope you had a CPA or tax person advising you throughout the process of selling your company so the tax implications of the sale have already been addressed.
Of course, you can buy an expensive car and an expensive house and not feel it, but again, taxes could be minimized if the transactions are properly structured. A little planning up front can save you a fortune later.
I know some people think if you have enough money then taxes become irrelevant, but consider the poor people who were financially ruined by the stock options they received during the dot-com boom. Here's an example of what happened - an employee was given stock options when hired. Two years later, the stock has skyrocketed, the options are worth $500,000 and are now able to be cashed in. The employee sees the stock continuing to climb so he holds on to the options. The end of the year passes, the boom ends, and the stock drops like a stone. For tax purposes, the employee owes income taxes on $500,000 because that was the value of the options when they were able to be exercised. The options might have become worthless a year later, and the employee never received a cent, but that isn't the way the tax law sees it. Imagine - taxed on $500,000 you never even saw.
JEDI
Lifer
- Sep 25, 2001
- 29,391
- 2,738
- 126
Originally posted by: crazySOB297
Yes this post is going to sound like bragging and yes I am a little bit. Deal with it.
After a hectic year I sold my company for just over $10 million after taxes friday. (no I haven't ever mentioned my personal company on ATOT, just my dad's which are completely unrelated. No I won't tell you what it was, especially not until things are finalized.) and I am honestly at a loss of what to do... All these new possibilities open up at once and I am kind of lost. I am only 18 and I am a freshman in college.
I am considering just throwing the whole thing into like a 5 or 6% interest account and only buying stuff off the interest.
The other side of me wants to do the obvious... Bugatti Veyron and a nice house.
I am still in shock and kind of looking for guidance. No one I know has ever even come close to this sum of money.
So guys, I am open to suggestions, have at it. What would you do?
(btw I have a thing for the Aston Martin DBS)
#1: lawyer
#2: umbrella liability insurance
#3: cpa
#4: AR-15 assualt rifle, + .40 caliber automatic as backup
#5: Lvl3 bulletproof vest
take care of the boring necessary things, then have fun.
ie: get your house in order b4 diving into reckless abandon
Capt Caveman
Lifer
- Jan 30, 2005
- 34,543
- 651
- 126
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