I have $257,834.23 (258k)

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.

If the dollar collapses you have more to worry about than your day to day life. This goes for everyone around the globe.

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.

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

Heard about investing into the legal marijuana market in the state of California..2017 will be a good year

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?

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.

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.

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.

>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

Buy a house
Rent it out.
Free money

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.

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

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 )

That sounds like a great long term thing. Any sites/books where I can learn more about this?

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

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

Google DRIP

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.

>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.

Best.