Say that you had half a million dollars in the bank. In reality that's not a ton. What would you do to make yourself into a multi-millionaire? A billionaire? I'd really like to have a company, but not just one doing stupid shit like selling the shamwow.
tl;dr - what would you do to become a billionaire if you had 500,000 to start.
>>16494908
If I had 500,000, I'd cut each bill into 4 pieces, I'd instantly have 2 million, take that 2 million, cut each bill into 4, bam, 8 million. You're welcome.
I think you have enough to learn how to trade stocks. Get a degree in Finance and pick up a job as a day trader. You'll eventually learn enough to start playing with your own money. I know I outlined something that'll take a long time, but it's probably the best way you can transform your money.
The other option is to figure out what your passion is and then monetize it. You won't know what it is or how to do it, but someday you will. And you'll need a ball of cash to get started. Maybe you like sinks. Go out there and become the world's greatest sink designer in the world.
>>16494908
Whatever you did to make that $500k you have in your bank account, you should probably keep doing it.
also
>>>/biz/
>>16495003
That is indeed a gorgeous sink. I agree with your last part, finding your passion and monetizing it. I like science, I have two degrees and have been thinking of going for a master's, but it's harder to monetize than it sounds. It seems like you need to have that lightbulb idea to do it.
>>16495006
Real estate. Yeah, I probably will to an extent, but it's stressful and ultimately not the way I want to spend my time But yeah good point.
You seem to be confused, op. 500,000 usd, if counted in coin, can easily reach over a ton
>>16494908
probably just find a competent investor and live modestly.
>>16494908
Save 20% and invest the rest.
>>16494908
For those not /diy/
>throw 50% into a stock market index fund
>invest 25% in a medical or sci/tech mutual fund
>spend 20% on a modest house in a low COL area
>keep 5% in cash reserve
>work your normal job
Medical and sci/tech is risky because you focus on one specific market, but you can make big bucks because those industries favor startups. General stock market is less risky, but still give 7% year over year good and bad markets.
For those /diy/
>spend 20% on a modest house in a low COL area
>buy houses or duplexes in bad shape, but with good frames
>fix up using /diy/ skills and sell or rent for market rate
>keep 10% cash reserve for repairs and general upkeep
>leverage rentals for more cash for more properties
Either way 100k can get you a small 2-3br that might need some work depending on your area. Where I live 100k gets you and older 3br that needs nothing right away.
>>16494908
Put half in the highest-interest insured savings you can find.
Do some serious stock market research to find companies you see as undervalued and likely to rise a lot. Split your $250,000 among four or five of these. Keep an eye on them and on the rest of the market, and if you see something with better prospects, sell your weakest stock and buy the new one.
>>16494908
buy some houses, (dirt cheap cause recession) collect rent, don't pay rent or mortgage.
a 100k house should get you 500 a month in rent so if you rent out 4 of them you get 2000 a month without doing anything and without payig rent yourself.
>revenue can be increased when renting rooms instd of whole houses.
sell all except one when they're worth enough to retire.
There is a saying in the finance world: it is easier to turn $1 million into $2 million than to turb $1 into $2.
$500,000 is not stupid-rich, but it is not chump change. Get a good financial/investment adviser -ideally, one who only gets paid out of the profits they make for you- and let then handle the investment part of things.
Gimme your address i need a loan my name is vinny.
You kick up to the boss and ill teach you all there is to know about whoores and heroin.
>>16496146
Buy one or two rental properties, or a house to flip to begin with. However, beware of the cost of updating, repairs, and general maintenance. You never want to over spend otherwise you loose profit or get into serious debt.
If property interests you then find a trusted realtor within a specific community, and always have several inspections conducted prior to buying especially when first starting out.
One of the better /adv/ threads. Full of actual advice and not NEETfags shitting up about women and suicide.
Thanks people.
