
Ask HN: If you make more than $200k, how do you manage your money? - dalerus
Hey Everyone,<p>I&#x27;ve just finished my taxes for 2015 and after reviewing all my accounts I had an interesting thought. Over the last year, my wife and I have really stopped budgeting like we use to. Most of our eight years of marriage has been a combination of graduating university, getting into serious debt, being broke, paying off debt, and now we are financially fine. We have no debt and I&#x27;ve made a reasonable salary for the last three years.<p>Now that we have no debt and more cash coming in, we&#x27;ve gotten away from our budgeting habits. We use to follow an envelope system to manage money but we&#x27;ve just stopped doing it.<p>For those of you that take home $200,000+ a year, how do you manage your money? I&#x27;ve started maxing out my employers 401k matching, but beyond that I have no idea. Any good resources, or blogs to read? I&#x27;ve read Dave Ramsey&#x27;s books, but not sure if there are any others our there that I should look at.<p>Thanks for any help!
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brudgers
The amount of money and effort it takes to reliably make money from money are
significant. Ron Conway is a billionaire and his full time job is investing.

Whatever you read today about the system by which ordinary people beat the
system is the same advice that was peddled in the 80's, 90's and 00's. It
worked equally well for the S&L crisis, the dot.com bust, and the recent
financial cluster fuck. Which is to say that it didn't work well at all.

My advice from further down the life cycle, put it in the bank and preserve
it. The number of people I know who have had their "portfolios" destroyed
vastly outweighs those whose investments consistently do well. I don't know
anyone who beat the high frequency traders by anything other than dumb luck.

Good luck.

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nness
Assuming FI\ER is a goal, Reddit has a good place you can ask the same
question:
[https://www.reddit.com/r/financialindependence](https://www.reddit.com/r/financialindependence)

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dalerus
Awesome! Thanks!

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pacnw
I would recommend the book 'The Intelligent Asset Allocator' by William
Bernstein, if you happen to find yourself in the position of worrying about
what to do with excess funds.

