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Here's What to Do When You Make Your First Million, According to a Silicon Valley Financial Planner

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What would you do if you just got $1 million? That could be just a pleasant thought experiment. Or it might be a very real question if you work for one of the large tech companies that's about to have an IPO. Or if you're planning to sell a company you've founded or a home whose value has risen sharply in a hot real estate market.

Just ask Jonathan DeYoe, a Bay Area financial advisor--and Buddhist--who's author of Mindful Money. Many of DeYoe's clients are newly minted millionaires who've cashed in on their employers' IPOs. The Wall Street Journal made an entertaining video of DeYoe's advice to these newly wealthy techies. It's full of useful lessons for anyone who's just gotten a large sum of money--or who just wants to know what to do in case it ever happens.

Here's what DeYoe tells his clients:

Many of today's new tech millionaires actually have $1 million worth of their company's stock. What should you do if that's you? Well, if you sell it all and the stock doubles in price over the next year or two, you'll be kicking yourself for having missed out on all that gain.........

© Inc.com