New found wealth 2.8M

Nov 23, 2019 92 Comments

hello blind folks... i have around 90k uber stocks as i am an old dog.. hired in 2014 Jan.. at current price i am looking at somehwre around 2.8M..

My family and friends know i have a tonn of uber stock but they guess i would have around 1M..

keeping the stock price aside, assuming i sell all my stocks and get the big chunk rightaway.. is it safe to store in a bank? knowing most banks are secured upto 250k? my bank is wellsfargo..

what are my alternatives to store this cash and get good returns?

current tc - 378k

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TOP 92 Comments
  • Microsoft LChereicum
    Don’t sell. Uber stock has a lot of upside over time. Hold it and make 2-3x in 5 years or less.
    Nov 23, 2019 4
    • Microsoft LChereicum
      Obviously it’s up to you. But I hold Uber stock too. Of course not as much as u do, but I understand if u want to diversify.
      Nov 23, 2019
    • Facebook solotravel
      I see an upside but I wouldn’t risk it all your 5 years worth of RSUs just “cause it might go up”. You know internals better and have some knowledge than most of us outside. It’s better to be risk averse and sell some of it and ride the rest.
      Nov 23, 2019
  • Amazon mrmicropen
    Dafuq. Go get a money manager
    Nov 23, 2019 3
    • New / Eng
      AmazonEng

      New Eng

      PRE
      Facebook, Amazon
      BIO
      Facebook, Amazon Software Engineering.
      AmazonEngmore
      Citi or UBS Wealth Management. Both are famous for high net worth individuals.
      Nov 23, 2019
    • Google tartinea
      Honestly just spend a week researching boggle heads and use their best recommendations along with whatever risk tolerance you have. That’s it, you’re done. No need to give up 0.5% to money managers for little to no benefit.

      The only reason to go there is if you want non traditional investments such as angel investing etc for firms that specialize in those
      Nov 23, 2019
  • Walmart XQLb37
    How about buying physical gold? One Kg of gold would be around $45K.
    Nov 23, 2019 16
    • Walmart XQLb37
      Thank you. And god bless
      Nov 23, 2019
    • Google tartinea
      That’s fair. I understand the diversification argument. I’d never do it myself but if it makes you happier, it’s win win. You get peace of mind, I make more in the equity markets!
      Nov 23, 2019
  • Uber brb2
    Manage your tax obligations first. After taxes you are probably looking at 1.4M.
    Nov 23, 2019 6
    • OP
      90K is nothing for certain hires..

      FYI my manager was hired in 2013 who left in 2018 after 5 years.. he has around 196k stocks.. yes that’s almost 200k units
      Nov 23, 2019
    • Uber / Eng unter
      You will need to come up with an additional 15% for federal taxes (Uber withheld at 22% at IPO, your exposure will be about 37%). Get an accountant.
      Nov 23, 2019
  • Grow it. Put about $250k in wealthfront (2% apr), $250k in betterment. Use crowdfunding real estate sites like crowd street to fund upto $1M of properties. Spend anoother $1M on a multi family rental property worth upto $4M. And enjoy $300k - pay off your loans if need be. However I'd recommend letting a small chunk of Uber stock ride. Say 15-20k of it. It could end up at $50 in a year, never know.
    Nov 23, 2019 4
    • Google no_you
      Agreed. Not a good advice. It might turn out good but I would suggest to prepare a more comprehensive strategy. Google: windfall bogleheads
      Nov 23, 2019
    • Microsoft / Eng dUKM75
      Uber has more upside than downside. Sell half in December and half in feb. Split up some taxes.
      Nov 23, 2019
  • LinkedIn hgWS5-1
    Storing cash = 0 returns. Buy index funds in global market(s).
    Nov 23, 2019 2
    • OP
      I meant cd or monkey market deposits diversified and get 1-2% annual return?

      Ok let me see the index fund thing..
      Nov 23, 2019
    • Google several
      Look up Bogleheads 3 fund portfolio
      Also look up "How to deal with a windfall" on the same site.
      Nov 23, 2019
  • Snapchat / Eng Romantico
    FWIW, Wealthfront's cash account is FDIC insured up to 1M.
    Nov 23, 2019 4
    • SAP DVOw73
      Yes, I think I wasn’t very clear. What I meant is that a Money Market fund is in practice as safe, but yields might be better.
      Nov 24, 2019
    • Snapchat / Eng Romantico
      This account has one of the highest yields in the market (more than my CapitalOne Money Market account). I was just checking and Betterment also has a similar one, also insured up to 1M.
      Nov 24, 2019
  • Apple ijyA68
    You need a financial advisor. Unless you are super rich, holding $2.8M of a single stock is nuts.
    Nov 23, 2019 2
    • OP
      It’s all vested uber stock now that we lockup has expired.. so haven’t sold it yet.
      Nov 23, 2019
    • Apple ijyA68
      You need a tax advisor and a financial advisor ASAP.
      Nov 23, 2019
  • SAP DVOw73
    That story rocks so hard. Congrats, I’d try the bogleheads forum if you want real advice, you’re obviously a novice in this area.. Be careful with anything drastic, just learn up first, maybe get a good banker and don’t be vocal about it at all.
    Nov 23, 2019 1
    • OP
      Thanks.. I am just seeing what other people have to say.. not going to blindly follow anything as such..
      Nov 23, 2019
  • Apple pusandisp
    Founder sold 1.5 billion worth
    You should do the same
    Keep 400 k ish to let it ride
    Nov 23, 2019 0

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