Title: About a 34-Year-Old with a ~$21–22M Net Worth: Is There Something I’m Missing?
Overview
Recently, I received a substantial payday from a startup that went public, bringing my net worth to roughly $21–22 million at age 34. I plan to stay with the company for another couple of years, during which RSUs will vest and push my net worth toward about $30 million. After that, I expect to continue working in roles that are meaningful to me rather than pursuing full retirement, potentially drawing on investments to maintain my standard of living.
Current approach
– Investments: Primarily invested in index funds, with a focus on VTI. I intend to continue liquidating RSUs and reinvesting in broad market exposure.
– Company stock: Approximately $4 million in company stock that I’m comfortable holding for the long term.
– Real estate: Recently purchased a $3.1 million home, financed with a $1.5 million mortgage at an interest rate below 2%. This was my largest expense to date, but I felt it enhanced my quality of life.
– Insurance: Umbrella policy coverage up to $5 million.
– Estate planning: No trust in place yet, but it’s on my to-do list.
– Family plans: Possible marriage in the near term with the expectation of children in the future.
– Advisory approach: I don’t currently have a wealth manager. I’ve considered working with one, but many charge fees I deem excessive, so I’d prefer to manage investments myself and stay aligned with a “buy and hold” strategy.
Questions and gaps
– Beyond the basics outlined above, is there anything else I should be doing from a wealth-management perspective?
– Am I overlooking any essential components of a comprehensive plan (tax strategy, estate planning, diversification, liquidity needs, risk management, or other elements) that would be prudent for someone at this level of wealth?
– If I proceed without a wealth manager, what practical steps can I take to ensure my plan remains well-structured and adaptable as my circumstances evolve?
Note
I’m grateful for the community’s input. I’ve also added a follow-up comment detailing my startup experience, which addressed a common question, though that comment isn’t pinned. If you’re curious, you’ll find the additional context there.
