This was my thought. 500k, while a lot of money, isn't even "never work again" money. It's more like a good safety net if you lose your job. I guess I don't know anything about investment, maybe a smarter person than me could spin 500k into "never work again" money. I think I'd need something in the 2-4 million range to feel comfortable not working a day job. Then again, maybe a more frugal person than me could make it work.
Regardless, 500k definitely isn't "jump start a revolution" money.
maybe a smarter person than me could spin 500k into “never work again” money.
You mostly can't. 500k is life changing money, but the best you could really do is probably something between "retire 20 years early" and "only work the next 10 years".
OP should use 10k to 30k as a downpayment on a mortgage, up to 10k for things like a laptop, 5k as a downpayment on a car (if OP didn't already have good versions of those), pay down all outstanding credit card debt, and put the rest in diversified assets like stocks etc.
OP could use the 500k to be resilient to layoffs, and to start an early retirement. Now is a good time to plan your life out tho, to max out the utility of the 500k. Buy a $50k to $150k house in the middle of nowhere, instead an equivalent home costing $400 near a place with jobs. Then get a remote job. The threat of homelessness is now 10+ years away, instead of "this weekend", so can you often hold out for a better employment opportunity. Make sure fiber internet is available, or fast enough internet, even if you have to get an expensive business plan with $10k "last mile installation fee", so you can actually qualify for the remote job.
Now you can also start a leftist podcast/youtube channel. You basically would have at least 2 years of runway to churn out content before you really need a patreon/sales to cover your monthly expenses.
OP should use 10k to 30k as a downpayment on a mortgage, up to 10k for things like a laptop, 5k as a downpayment on a car
Why would you buy stuff on credit when you can buy outright? It's just giving extra money to capitalists. And 10k for a laptop? I'm budgeting 2k-2.5k for a PC that I hope to have for a good long while.
Living in the middle of nowhere is a terrible idea, unless you have a very clear plan for living off the land and enough people to do it with. Humans are dependent on other humans to live, and in this age that means accessing markets. I wouldn't live more than 10 miles from a sizable town (20k+).
This was my thought. 500k, while a lot of money, isn't even "never work again" money. It's more like a good safety net if you lose your job. I guess I don't know anything about investment, maybe a smarter person than me could spin 500k into "never work again" money. I think I'd need something in the 2-4 million range to feel comfortable not working a day job. Then again, maybe a more frugal person than me could make it work.
Regardless, 500k definitely isn't "jump start a revolution" money.
You mostly can't. 500k is life changing money, but the best you could really do is probably something between "retire 20 years early" and "only work the next 10 years".
OP should use 10k to 30k as a downpayment on a mortgage, up to 10k for things like a laptop, 5k as a downpayment on a car (if OP didn't already have good versions of those), pay down all outstanding credit card debt, and put the rest in diversified assets like stocks etc.
OP could use the 500k to be resilient to layoffs, and to start an early retirement. Now is a good time to plan your life out tho, to max out the utility of the 500k. Buy a $50k to $150k house in the middle of nowhere, instead an equivalent home costing $400 near a place with jobs. Then get a remote job. The threat of homelessness is now 10+ years away, instead of "this weekend", so can you often hold out for a better employment opportunity. Make sure fiber internet is available, or fast enough internet, even if you have to get an expensive business plan with $10k "last mile installation fee", so you can actually qualify for the remote job.
Now you can also start a leftist podcast/youtube channel. You basically would have at least 2 years of runway to churn out content before you really need a patreon/sales to cover your monthly expenses.
Why would you buy stuff on credit when you can buy outright? It's just giving extra money to capitalists. And 10k for a laptop? I'm budgeting 2k-2.5k for a PC that I hope to have for a good long while.
Living in the middle of nowhere is a terrible idea, unless you have a very clear plan for living off the land and enough people to do it with. Humans are dependent on other humans to live, and in this age that means accessing markets. I wouldn't live more than 10 miles from a sizable town (20k+).
why would you pay off a loan with a interest rate that is probably much lower than what you can get from a variety of mostly safe investments?
"things like a laptop", plural, possibly not even a laptop