I agree with the guy that says buy dividend stock (but I dont agree with buying muni bonds) There are many blue chip companies that pay 3-5% that are pretty safe. I know that sounds boring, but many blue chips increase their dividends by about 50% every 5 years or so. So if you put 1 million into a stock that pays 5%, thats $50,000 per year, but after 5 years you will be getting somewhere around $75,000 per year. After 10 years $112k per year. $250k per year after 20 years and so on and so on. That doesnt even include the appreciation of the stock.
If you have never had a business before, I would not buy one if I were you. You could end up losing lots of money. If you won millions you are not a poor guy anymore so try not to think like one. When you have money, time is your most precious asset. Invest in many different dividend paying blue chip stocks and just live your life to the fullest on the income it provides.
If you have never had a business before, I would not buy one if I were you. You could end up losing lots of money. If you won millions you are not a poor guy anymore so try not to think like one. When you have money, time is your most precious asset. Invest in many different dividend paying blue chip stocks and just live your life to the fullest on the income it provides.
