A moderate exit can be a trap. It provides enough wealth to reject most jobs as "not good enough" but not enough to fund world-changing philanthropic ventures. This financial limbo makes it difficult to find a new, motivating purpose.
Future inheritances are uncertain in both timing and value. Basing major financial decisions like homeownership on an expected inheritance is a risky strategy that can derail your own financial progress. Operate as if it will never arrive.
The conventional narrative promoting work-life balance is flawed for ambitious professionals. Intense professional focus in your 20s and 30s establishes a financial and career trajectory that allows for significantly more flexibility and time with family later in life.
After selling a company, avoid waiting for the perfect next venture. The key to rediscovering purpose is to lower your standards, engage in a project you find mildly interesting (a "6 or 7 out of 10"), and go all-in. Momentum breeds motivation.
While real estate may not outperform other asset classes, its main financial benefit is behavioral. The obligation of a mortgage payment enforces a savings discipline that people don't apply to other investments, making it a powerful wealth-building tool through consistency.
A career's trajectory is set in the early years. Like a rocket using 97% of its fuel to escape gravity, you should expect to expend immense energy in your 20s and 30s. This initial thrust creates momentum that carries you for decades with far less effort.
Under California's Prop 19, the low property tax basis of an inherited home is lost unless an heir makes it their primary residence within one year of inheritance. Failing to do so can cause the tax bill to reset to current market values, increasing it five to tenfold.