CNET News: Tips for newly minted Facebook millionaires
CNET News: Tips for newly minted Facebook millionaires
2012-05-15
so your company's gone public or been
acquired now that you've added some
zeros to your bank balance what's next
experts say newly minted millionaires
should follow three simple steps plan
diversify and take a very close look at
taxes Uncle Sam is going to want his cut
just ask facebook co-founder Eduardo
Saverin who's getting heat for
renouncing his US citizenship presumably
to avoid hundreds of millions in taxes
you have savings bonds in two different
places don't run for the border but seek
a tax expert who can help with some
common sense legitimate strategies next
remember lessons learned from the first
calm boom and the recent financial
downturn you know goes back to the to
the importance of diversification making
sure that no matter how hopeful or
depressed you are about the prospects of
both Silicon Valley and investing in
general that you make sure you ride a
middle ground finally be prepared for
ambulance chasers your phone will buzz
with calls from people wanting to manage
your money you'll want to pick a
financial adviser over a broker if your
broker you're a salesperson and you're
paid to sell whatever that firm wants
you to sell you push products if you're
an advisor you have a legal duty a
fiduciary obligation to your client to
act in their best interest not in your
own you should bet anyone you're
considering hiring thoroughly in San
Francisco I'm Sumi das cnet.com for CBS
News
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