What is the best way to invest 15 million dollars to ensure I never have to worry about money in the future?

Asked in Chicago, IL · August 3, 2016
I'm 43, and I have five kids. Will 15 million dollars be enough to live the rest of my life, and put my kids through college?

Advisor answers

As long as you don't live t-o-o extravagantly, and stay grounded, you should have absolutely no problem in the future. In other words, stay true to yourself and ask yourself a few questions prior to every purchase:

(1) Is this a Want or a Need? It's okay to have wants. This question will help you remain conscious of your spending habits.

(2) Will I actually use this item? Don't buy an item that you will only temporarily use. For example, don't buy it if it will end up in the garage covered with dust.

(3) Can I afford it? Even w...

Your expenses hold the key to answering this question. As a rule of thumb, we'd recommend keeping your annual withdrawals around 4% of your asset value. Simple math would conclude that if you spend less than $600,000 per year, your assets should sustain you through college and retirement.

PS. do your best to avoid any salesman that might make commissions on products that they sell to you!

Best wishes,

  • Contact advisor

It comes down to the lifestyle your portfolio needs to fund, your investment approach, and how you're covering major risks.

With $15m you have a lot of opportunities and flexibility to make your funds last. I'd recommend you continue visiting forums like Nerdwallet, or consider building a relationship with a fiduciary you trust.

Adam C. Harding, CFP

Good luck.

Disclosure: For informational purposes only. Not to be considered investment, tax, or legal advice. My responses on Nerdwallet are for educational purposes only and actio...