I have $257,834.23 (258k). What would you do with this money, Veeky Forums? I'd ideally like to stop working entirely. Should I invest into something? If yes, into what? Or should I just live off of it and try to live modest so that it's enough until I'm dead?
I'm 33, btw.
Henry Hernandez
Silver/Gold min 10%
Real stuff only no paper
Joseph James
>Or should I just live off of it and try to live modest so that it's enough until I'm dead?
If you plan on dying within 5-10 years, sure.
Sebastian King
Bitcoin 100% serious
Bentley Foster
Could you elaborate? Basically just put a certain amount of money into buying gold/silver bars and then sell them again when the price raised by at least 10%? Keep doing that until I'm dead? I have no idea about gold and silver, is it relatively risk-free?
>5-10 years I can live off of 1k a month. That's at least 20 years but I guess you're right. I'll run out of money before I die a natural death. That's why I'm thinking of investing...
Problem is, BTC seem very risky to me. They've been rising nicely the past few years. I remember when BTC were like $300 each and now they're $900. My only concern is, will it still be relevant in 10 years? Seems kinda risky, desu.
Liam Scott
If bitcoin is too risky my second option would be buy a house and rent it out. Where I live that's an easy 2 grand a month. I just don't understand why you think btc won't be relevant in 10 years?
Colton Martin
>Stop working >on $250k I mean if you can live on 5 grand a year go for it
Ryder Gutierrez
>258k
how in the fucking WORLD did you make that much, bearded feely man? Spill the beans, you're only 33
Dylan Price
Why don't you conduct your own research and not even bother asking the internet?
Hudson Gonzalez
>is gold and silver risk-free the real question is the dollar risk-free? everything is based around gold everything
Ethan Wilson
You have quite a bit of money, but it's not fuck-you money. You certainly don't have enough to live the rest of your life on. I suggest getting into rentals. You won't be able to stop working entirely, in the sense that you will have to fix your properties up occasionally (you could hire someone to do it), but rentals are a great source of passive income. I don't recommend buying in now though. Market's terrible for buyers at the moment.
Samuel Russell
If the dollar collapses you have more to worry about than your day to day life. This goes for everyone around the globe.
Ayden Gutierrez
Sorry for the late reply, I was playing a game. I was pretty much all my life in the Foreign Legion, saved up a lot of money that way since I didn't have to spend any of it.
But you are the internet. Also, I did some research but I haven't found any fulfilling answers yet, so I gave Veeky Forums a try. After all, some smart people lurk here.
Yeah, guess you're right.
Thought about that too. As said, I could get enough money from the rent to live my life off of that. But I don't know yet, I gotta know what kinds of costs are gonna be coming to me. Not only now but also in the future.
Owen Sullivan
Dividend paying stocks with a DRIP setup
you wont be able to retire right away, but by around age 40 you can cancel the drip and have roughly 400-500k stocks which would equal about $20,000 a year in cash
Samuel Lee
Heard about investing into the legal marijuana market in the state of California..2017 will be a good year
Jayden Jones
I have no clue about stocks, friend. Basically you're saying, I should get stocks that pay dividend (dividends is the profit the company made distributed across all shareholders, right?) and live off of dividends? Since I don't know much about stocks, which are a safe bet so I don't lose my money? Apple, Google? >have roughly 400-500k stocks which would equal about $20,000 a year in cash So I basically have to buy half a million stocks? Those must be awfully cheap stocks if I can afford them with my 258k. Or did I misunderstand?
Nolan Reed
top kek, the last year of 215 will be good? 2018 will be good when half the competitors I have in 2017 will be eliminated because they were too negligent to apply for a license.
Juan Nguyen
All right. Deal is with housing is that it's generally in a 10 year cycle. As long as you are able to weather this cycle, you'll survive. Real estate prices as a whole only go up. Costs to note is that you will want money stashed in case of an emergency--shit needs fixing, like a toilet or a fuggin' roof needs replacing, you'll want like $50k set aside so you can sleep well at night. You will need liability insurance. This is in case someone attempts to sue you. You get covered up to some ridiculous sum like a million bucks, and the insurance companies sic their lawyers on anyone that has the balls to sue you because they don't want to pay out that million bucks. You can put your apartment under an LLC (one property per LLC) in case you lose the suit and your insurance doesn't cover enough. This makes it so that people can only steal your rental property. Some people don't bother with this though. Again, it's all about how well you can sleep at night.
Hunter Bell
I would move to a third world country, buy a couple apartments in a touristy part of town and rent them through airbnb.
You could easily make 4-5k a month which will allow you a very comfortable life in most places.
Adrian Sullivan
>I can live off of 1k a month. That's at least 20 years
fails to take inflation or unexpected expenses like medical bills and vehicle/home repairs into account
Eli Ward
Buy a house Rent it out. Free money
Owen Gomez
Get yourr ass over here to north africa. It's not that shitty and with that kind of money you'd live like a prince.
Brody Mitchell
americans can buy panamanian residency for 10k you can live well enough as a bachelor for 1000 a month there's plenty of investments that pay out the needed 6% to live off of
Benjamin Sanchez
Not the user that posted, but you wouls buy a certain amount of stock with dividend, then reinvest the divided. DRIP, is this process, automatically reinvesting for you. What would happen is it would compund on itself, then over a period of time either cancel DRIP and live off those dividends, or take out the investment. (Live off dividends is more advisable )
Leo Ross
That sounds like a great long term thing. Any sites/books where I can learn more about this?
Cooper Taylor
Wigh that amount of money it's certainly easy enough. I guess around 10k should be more than enough to close a solid deal. I can help you out if you are interested
Isaiah Green
4% SWR does take inflation into account that sum is not quite enough to make $1000/month in 2016 dollars however with a couple more years of savings OP can get there, especially once he claims social security and medicare
Lincoln Garcia
Google DRIP
Benjamin Morales
Don't invest in a few companies, the safest bet is to do passive index investing. This way you'll grow your money slow and steady, with minimal risk, around 10% returns a year. This is what I would do if I had your money rather than fuck about with high risk volatile asset classes.
Zachary Murphy
>Step One: Invest all in relatively stable stock like Google or FB or Twitter or someshit >>>Something with a bit of volatility but no likelihood of it nosediving any time soon.
>Step Two: Write out of the money Covered Calls on this stock >>>If it gets exercised, just use your stock to cover the call >>>If it doesn't get exercised, you keep doing it, and doing it, and doing it.
Tips: >Avoid stocks with high dividends -- calls tend to be called more frequently on them. >If the call is exercised, you will make a gain on the sale of the stock (since the stock had to have moved up), so it's still a win >If the stock DOES nosedive, you still could make all your money back by selling more OTM calls >Literally, the only scenario where you lose everything is if the stock goes to 0, which won't happen if you pick the right stock.
Oh also, huge tip:
HIRE A TAX ATTORNEY. Very, very important. It's the first thing you need to do before investing big money.