Anne Mahlum, founder of Solidcore, shares insights on managing a $115 million net worth, spending $200K monthly, investing primarily in public equities, and prioritizing convenience and family life. She discusses her journey post-exit, investment strategies, personal spending habits, and the importance of generosity and meaningful living beyond wealth accumulation.
Anne Mahlum, the entrepreneur behind the successful Pilates studio chain Solidcore, which she built from $175,000 in savings and sold for $88 million, offers a candid look into how she manages her wealth and lifestyle after her significant exit. With a net worth around $115 million, Anne shares her approach to spending, investing, and living a fulfilling life.
Anne is a passionate Knicks fan and has spent approximately $340,000 on Knicks playoff tickets this season alone. She and her family have attended multiple games, often flying to New York to watch the action from premium seats. Despite the high cost, Anne views this spending as a justified investment in experiences that bring joy and connection.
Anne emphasizes the importance of increasing one's spending in alignment with income growth. She warns against the common mistake of making more money than one spends, which can create a psychological barrier she calls the "expensive ceiling." By deliberately raising spending, especially on convenience and quality of life, individuals can better align their lifestyle with their financial reality.
Anne's net worth fluctuates with the market but generally sits between $115 million and $120 million. Her portfolio is diversified as follows:
She prefers public equities for their liquidity, simplicity, and strong returns, noting that private investments often carry higher risk and longer lock-up periods.
Anne invests heavily in convenience to improve her quality of life, especially after becoming a mother. Her $15 million home includes a beach volleyball court, allowing her to engage in daily exercise without inconvenience. She employs a housekeeper and a night nurse to manage household and childcare tasks, freeing her time for family, fitness, and personal pursuits.
Motherhood has reinforced Anne's focus on convenience and meaningful time with family. She describes a typical day balancing childcare, workouts, investment calls, and leisure activities like volleyball and massages. This balance reflects her desire to prioritize health, family, and happiness over relentless business pursuits.
After selling Solidcore, Anne launched a new fitness company called Ambition in New York. Despite initial enthusiasm, the venture faced numerous operational challenges, including landlord issues and health hazards, leading Anne to shut it down. This experience taught her valuable lessons about risk, timing, and personal priorities.
Anne and her husband Brett addressed financial disparities early by gifting him money to ensure he felt financially secure and equal in their marriage. They share expenses through a collective credit card and avoid money conflicts, emphasizing transparency and mutual respect.
Anne does not aspire to become a billionaire and is comfortable with her current net worth. She advocates for spending money to create memories and experiences rather than hoarding wealth. She follows a "die with zero" mentality, preferring to give money to family and charity during her lifetime rather than leaving large inheritances.
Generosity is a core value for Anne. She regularly gives money to friends and family, buys experiences for loved ones, and shares Knicks tickets with others who might not afford them. She believes generosity creates a positive ripple effect and encourages others to give what they can.
Having experienced the intense demands of building and scaling companies, Anne now focuses on living a balanced life filled with activities she enjoys, such as volleyball, spending time with her son, and writing a book. She has no immediate plans to start another company, preferring to savor this phase of life.
Anne Mahlum's story is a compelling example of how to manage significant wealth with intentionality, balancing financial growth with personal fulfillment. Her approach highlights the importance of spending on what truly matters, investing wisely, nurturing relationships, and giving generously.
Her journey reminds us that money is a tool to enhance life, not the sole measure of success or happiness.
This article is based on an in-depth conversation with Anne Mahlum on MoneyWise, where she shares her financial strategies, personal experiences, and insights into living a meaningful life after a major entrepreneurial exit.
