If you seriously won this large sum of money congrats, but you're not going to implement anything close to world communism—500k isn't even enough to retire on in the states. Pay off any immediate debts, take out like 10k and spend it on junk and shit you want, and then sit on the money for at least a few months. I would highly recommend going to a fiduciary financial advisor (one that charges a fee rather than a percentage of your invested assets, you'll get better and more importantly unbiased advice) to figure out your goals with this kind of money. Depending on your age, invested properly 500k is more than enough for a great retirement, and in the meantime you can take low stress jobs that cover your cost of living without having to worry about saving for the future since that 500k will grow to 2 million or more over 20+ years. I highly highly recommend not spending any of this except for that little initial amount to blow off the steam of winning and going to see a financial advisor as soon as possible. Congrats comrade!
If you seriously won this large sum of money congrats, but you're not going to implement anything close to world communism—500k isn't even enough to retire on in the states. Pay off any immediate debts, take out like 10k and spend it on junk and shit you want, and then sit on the money for at least a few months. I would highly recommend going to a fiduciary financial advisor (one that charges a fee rather than a percentage of your invested assets, you'll get better and more importantly unbiased advice) to figure out your goals with this kind of money. Depending on your age, invested properly 500k is more than enough for a great retirement, and in the meantime you can take low stress jobs that cover your cost of living without having to worry about saving for the future since that 500k will grow to 2 million or more over 20+ years. I highly highly recommend not spending any of this except for that little initial amount to blow off the steam of winning and going to see a financial advisor as soon as possible. Congrats comrade!