This is a question that Reddit user, BawceHog posted in the r/WallStreetBets subreddit (h/t Teslarati). He’s made a nice fortune from both Tesla and Apple stocks and he doesn’t quite know what to do with it. BawceHog has 14 years of investing experience, and the events of 2020 made his investments in Tesla (and Apple) pretty successful. In his post, he said, “I have a $5.4M portfolio generating ~$155k/yr in dividends,” adding that someone told him about that particular subreddit and that he wanted to know what plays others think he should make.
Now, before some of you automatically say to just reinvest it, I want to challenge you (and myself) to think bigger. Personally, I don’t have that kind of money, but I know several ways how it could help me, my loved ones, and many, many charities that are struggling right now. However, another thought that crossed my mind was not just what I could do with this money if it was mine, but what would Elon Musk do with it? (Well, he has much more than that, but you know what I mean.)
While there are many charities, as I’ve just mentioned, that could use some extra funds to help people in need — and donating to them would be great — my advice to BawceHog, if you ever come across this article, is to ask yourself one simple question: What brings you joy?
There are many things in life that do bring us joy, but what is it that makes you feel alive? It’s that thing that makes you feel that you are on the right track — the moment that leaves your heart racing while filled with hope, purpose, and sheer joy. For me, it’s writing and learning about the mineral kingdom. It’s looking at a gemstone through the lens of a macro camera trying to capture that inner fire. It’s using my words to empower rather than cause harm. It’s fighting for things I believe in and supporting those who inspire me.
For each person, it’s different, and once you identify this core reason for being, then you’ll find the answer that you are looking for. Many people do not have the opportunity to put $5.4 million into making their dreams come true, and in many cases, people who do luck out, whether it’s winning the lottery or something not quite that extreme, they end up wasting the money on material possession, drugs, alcohol — things that are temporary. They blow it on fading moments that, when gone, leave them feeling empty inside.
This Is What I Would Do With $5.4 Million
Let’s imagine I’m the one with those profits. I’d, of course, pay my debts, pay off my Cybertruck and other bills–I’d make sure a certain amount would go toward my own survival and then divide up the rest into these parts: growth and charity.
Growing your money was something I was never taught to do — I’ve only recently begun learning this. I’d invest in stocks that align with my own core values such as Tesla. However, growth isn’t just about stocks. I’d use some of the money for education. Gemology is something I’m interested in and a GIA course is well out of my budget today — but that would be on the list in the growth section. Other ways to grow would upgrade my computer, order wire and other supplies for my jewelry — putting that money into things that make me feel alive while also putting that money to work.
In the charity section, there are so many ways you can help people in need while also knowing that the money is being well spent — used for good. I’d support disaster relief, homeless help organizations, pet rescue, food banks, and Alzheimer’s research — there are so many charities that need aid and due to the pandemic, many are struggling. I’d help friends and family by investing in their dreams — not just giving them money, but helping them set up their own businesses so they could grow.
Things That Matter To Elon Musk
Do the things that matter to Elon Musk matter to you? Elon Musk is very passionate about his dreams. He wants to see us become a multi-planetary species, for us to be sustainable and for humans not to go extinct. He worries that artificial intelligence could be a threat and he hates traffic. All of these things have spawned billion-dollar businesses — one of those businesses in which you, BawceHog, invested in and made $5.4 million in profit.
The reason why I’m bringing up Elon Musk is to ask you this question: why did you invest in Tesla? Was it easy money or do you believe in Tesla’s mission? If your reasoning is the latter, think about ways that could help humans become sustainable. There are startups and other businesses that have similar missions that could use a few thousand here or there.
One last piece of advice is not to rush it. You have the chance to do make an impact on this world, the lives of those closest to you especially, and do some amazing good. So take your time and enjoy the process — it’s important that whatever you do decide to do brings you joy. And by the way, congratulations!