Congrats on your windfall! Firstly, I think you’ve done better than most by already speaking with a financial advisor. I was in your position a few years ago and it was absolutely daunting to me.
If you are interested in a passive income, I’d recommend learning how to invest in stocks, which is what I’ve done. With your current set up, you’ll be making roughly 10% a year. Historically, that is close to the S&P 500 annual average and it’s a fine return. However, there is an opportunity cost in that you can be making more than 10% a year. I would recommend you read ‘One up on Wall Street’ by Peter Lynch- it helped me grow my understanding of how to manage my portfolio and have much higher returns. There is always risk involved, so you have to consider what works for you- I completely understand the need to sort more pressing parts of your life.
Congrats on your windfall! Firstly, I think you’ve done better than most by already speaking with a financial advisor. I was in your position a few years ago and it was absolutely daunting to me.
If you are interested in a passive income, I’d recommend learning how to invest in stocks, which is what I’ve done. With your current set up, you’ll be making roughly 10% a year. Historically, that is close to the S&P 500 annual average and it’s a fine return. However, there is an opportunity cost in that you can be making more than 10% a year. I would recommend you read ‘One up on Wall Street’ by Peter Lynch- it helped me grow my understanding of how to manage my portfolio and have much higher returns. There is always risk involved, so you have to consider what works for you- I completely understand the need to sort more pressing parts of your life.