There are financial overachievers, and then there are the folks who post on the fatFIRE r/subreddit with supersized nest eggs. Indeed, scrolling through such a subreddit could leave many feeling a huge sense of envy. After all, it’s tough for Millennials in their 30s to save up six figures, let alone eight figures.

In any case, the “fat FIRE” movement is more than achievable for some folks out there despite recent troubles in the economy. And it’s these folks that have more than enough not only to retire in style but enough to give their children a huge headstart as well as funding the retirements of other loved ones. 

In this piece, we’ll check in with a 39-year-old Redditor who’s saved up more than they’d thought possible.  They’re a business owner who is looking to hit the “exit button” as they seek to allocate more time with family and friends going into their 40s. Undoubtedly, many high achievers like this person may not know when to stop. Indeed, even with tens of millions of dollars, it can be tempting to stay on the job.

Such a “raising of the bar” may be the best move for some, but for those who value quality time spent with family (how many times have we heard of big-name corporate executives resigning from their multi-million-dollar salary roles to spend more time with family?), I think it can’t hurt to change things up. While money can buy a lot of things, it cannot buy time. Indeed, if you’re like this poster, who has a jarring $29 million saved up (that’s an excessive cash hoard, regardless of where you live in America), you have the freedom to retire whenever you’d like and on your own terms. 

When it comes to retirement planning, checking in with a financial advisor is a necessity, especially if you’re dealing with tens of millions of dollars. 

Time for a shift of focus.

Undoubtedly, if you’ve got tens of millions of dollars, you can continue to make a massive amount of passive income without having to lift a finger. Indeed, a 4% yield on $29 million works out to just north of $1 million. That’s an obscene amount of money for anyone, especially for a retiree who may struggle to spend the money that continues flowing in. Either way, having way more than one can spend is a problem we all wish we could have. And while it may be tempting to splurge the money on exotic pets, trips, cars, and all the sort, I think it’s a far better idea to consider investing the sum and giving generously to charitable causes. 

As for investing such an exorbitant amount of money, diversification is key, so too is checking in with an advisor who specializes in high-net-worth individuals. Such an advisor won’t just be able to help you keep your money, making big money for you in retirement, but they can also assist you in transitioning from a business owner to a retiree. Indeed, making the shift from business owner to family person is not an easy one. For someone with more than enough cash, difficulties in making the transition may lie more in the big, sudden change in one’s day-to-day schedule. 

With two young children in the equation, it’s vital to keep a schedule and stick with it. That way, one won’t feel bored with a lost sense of direction as they enter the early retiree lifestyle. 

The bottom line

From an outsider’s perspective, this wealthy individual seems long overdue to focus on family and investments. In fact, with such a huge nest egg, many readers may view them as “humble bragging” on Reddit. In any case, it’s important to know when the right time is to transition from a hands-on entrepreneur to a hands-off investor. This line will be different for everyone. Either way, a financial advisor can help let you know when the right time to make the retirement plunge is!

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