This website will go into detail of what if I had $2.5 Million. Why such a number. This is the minimum I will need to be able to do everything I will need to do, and be able to generate the passive income to live off of every month. Due to disability, I am not able to work, so having $2,500,000 will disqualify me for all of the resources I currently have access to (and so should it).
For those that want a simple answer on what I would do, I will do the following
- $30,000+ to a savings for an emergency fund
- $2,000,000 to an investment account to generate passive income
- $250,000 for the purchase an renovation of an abandoned house
- The remainder will remain in my checking account for whatever need arises