Let's say you got an inheritance or you won the lotto and it was... say around $200,000 that you got... tax free.



Could you turn this money into something you could live off for the rest of your life? What would you do, start a business, invest, move out of the country? What?

 

just support myself? that would be rather simple. you buy a couple of duplexes and rent out 3 of the sections and live in one yourself. income of about $2250 a month @ $750 per unit and no rent would be alright to live on. this is even without having a job, imagine if you had a part, or even full time job added on.

 

I agree with Shane and the real estate idea. being a landlord has lots of downsides, but overall you can make a killing. Second choice would be opening a buisness. It will take alot of hard work, long hours, etc. but it would pay off in the long run. Investing is a bit too risky for my tastes. You are depending on others to bust their *** for you to make money. Not a good idea!

 

yeah you have to do bg checks and things like that to be sure that you dont get people who are gonna trash your stuff, aside from that you just have to find property in good condition so you dont have a lot of repairs

 

well you want to put the money somewhere where it will make money for you until you find an opportunity, like real estate or a buisness.



its all about risks though. if you have 200k wisely invested you have a great jump on retireing, but if you invest in a buisness you stand a chance of loosing it all.

 

I'd use it to finance a diamond heist and then sell them on the black market, thus upping my cred among the cat burglar circuit. Then I'd pull more and more lucrative jobs until I could afford a life of luxury, in a non extradition country



Actually, I'd probably go along with the realestate, but with rent houses instead of duplexes. And I would definitely not live next to one of my tennants. That's the whole "Don't **** where you eat" mantra.

 

real estate is a solid, buy and sell some cars to keep you busy also

 

I'd use it as a large downpayment on a nice house that I otherwise wouldn't be able to afford.. THen use that as my primary residence. It's not worth trying to be a landlord and the property will appreciate that much faster in a nice neighborhood!

 

Yea I was thinking more along the line of starting a business. I at first thought real estate would be the way to go... of course to ensure a good retirement it is a pretty good route.



Of course the business option puts you in the running for an even better retirement... or short the 200k, tough call, I dunno what I would do.

 

I'd probably split half of it with my son and we'd both go to the strip bar!