How can I turn 500,000 dollars into a fixed income of at least $10,000 a month?
EDITED ANSWER, as I now have another options:OPTION 1: USD500k right now is close to Australian Dollars 750k. I own a 25 year lease on a villa in Bali that is currently worth AUD250k, so you could afford three of these. The villa rents out at AUD200 per night, and 75% occupancy is easily achievable (these are beautiful houses and have full advertising, management and staff systems in place). That's AUD4500 per month x 3 = AUD13500 per month. About AUD3500 is expenses, leaving about AUD10000 a month income. It's not exactly what you want, but it's in the ballpark. It means you also have a beautiful place to stay when you want.OPTION 2:This is my brother-in-law's method, which he's just successfully completed. Use the $500k to borrow money from the bank to enable a $1.5m development. He bought an old house in a good suburb for about $750k and knocked the existing house down. On the land, he had built a $600k house. Around $100k in various fees and charges, means his total outlay was $1.45m. He sold two weeks ago for $1.75m; the property had been on the market for just two weeks. This yields about $300k on his original $500k. This is NOT passive income: it took him roughly a week a month working on this over almost 18 months. But, working 25% full-time for an equivalent of $200k annual income translates pretty well and far exceeds your $10k a month. It also means that upon sale, his equity is preserved entirely and he can simple 'rinse and repeat'.