If a 30 something year old happens to have around 1 million dollars...

If a 30 something year old happens to have around 1 million dollars, what is the best course of action to get a steady passive income?

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Start a business user

index funds

ETFs unironically. Slap that shit into an SP500 index fund and get your $40,000 USD a year for the rest of your life (accounting for variance and inflation). It doesn't get more passive than this, unfortunately. You can increase your return by doing something like real estate, but that would require both time AND effort.

to be clear i dont have a million dollars, im semi close but not there yet. i just really dont want to work and believe crypto is my way out

too much effort, already have a family business and it stresses me out a lot
hmm not bad. 40k a year for doing nothing would be nice. what would happen during a recession though?

Basically what this guy said. Work with a financial advisor so you can time the dividends payments out to be a monthly thing.

Stockpile some hard assets with your excess funds. Gold, silver, whatnot. That's what I'd do, at least; just stock up a bunch in single 1 oz bullion rounds so they're easy to liquidate.

Selling gold is so shit

>Muh SP500 index fund
Yes user, go all-in right now when the CAPE is over 30 and look forward to your probably NEGATIVE real returns over the next 10 years

Well, I wouldn't buy any right now, for sure, but after a small dip wouldn't be a bad idea.

Silver's always good, easy to move if you need cash fast. Gotta buy in bulk to make it worth it, though (500 oz or more at a time)

this isnt a bad idea but realistically $40k a year is chump change, sit on it a few years in that fund and keep working for a decade before trying to live off it

Another proven way is to invest in real estate, might not be 100% passive but if you play your cards right you can get insanely rich...
picture this buy 3 homes, 1 for you 2 that you rent out. Pay them off... keep working though.
rent brings in say 2500 a month, buy another house with that money...
Now honestly you can keep buying houses because they hold value and my house has gone up almost 40k this year, now imagine that with 2-3-4 homes/year... with the rent money coming in and upkeep being what it is you are coming out ahead of that $40k by quite a bit.
You could even go the greedy route and keep buying homes and turn that 1m into 10m in assets in maybe 10 years

yah there are good property management companies for 10% if you don't want to sweat the details. best rental segments where i live are either 3 bed 2 bath homes (always in high demand) or 1br condo in decent area with low hoa.

yea i mean for sure real estate is much better bet for making higher returns but im lazy as fuck. also ive heard so many horror stories about shitty tenants that it kinda scares me desu

High dividend ETFS

Look into REITs, Data Center REITs in particular if you feel like retail stores are too risky. I've been looking at $DLR for a while, if I had that kind of cash I would be heavy into it. 4% dividend, with tons of growth potential to boot.

A mix would be preferable, think about some utilities as well, and general market exposure like SPY/VOO.

Damn I am jelly. Easy $50k/year for doing nothing and it's only going to appreciate with enough time.

hell yeah, my area is similar 3-4 beds 2 bath and enough areas that dont have HOAs.. a guy I work with does this and has 3-4 homes and still works 12 hours a day... the dude is just motivated

10 years of working hard and then sitting on a beach the rest of your life or risking something bad happening and ending up working the rest of your life?

also the bad tenant thing does happen, I cant lie it happened to my dad.. 1 time in 7 years, but it paid off his new home he got for $300k 15 years ago.. its like 750 now and he stayed working until he was 60.. he wasnt lucky enough to have a good chunk of money when he was younger.. you are and could really do something with it.

yea i dont have a million, i just want to get a feel for what i should be doing once i get there. im about 1/5 of the way there

make a pile of 1 dollar bills and swim in it

trade cryptos ironically

Fuckin props, my dude. Here's to hoping you get there soon!

appreciate it bro. i dont see crypto going away so i think we're all still pretty early. hope we all make it

knee pads

Nice call on the REITs, I'll have to check out the data center ones. Thanks user

I'm hedging some pretty oddball bets myself, hoping at least one of them pays off. All I need is 800k to accomplish my plans.

People have been saying this since 2012 and have missed out on their money doubling lel