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Jeff's magic money machine
(midwest.social)
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this post was submitted on 24 Jul 2024
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No knowledge of the financial stuff, but maybe: put most of it in a variety of ETFs, hire a financial advisor and an accountant to help you navigate the system and the taxes, then cash out and donate it.
You spend it without giving it away. Then you give it away. Some countries give you a lot of it back at tax time if you donate to registered charities so you'll even get something for it. I dunno, I'm a poor so maybe it wouldn't work out, but it would be cool.
"Investing" is just gambling with extra steps.
Yes, and ETFs have the best odds with pretty low, but relatively stable, returns. It's fairly low-risk because that's how index funds work. Retail investing is not really for me, so low-risk is the most I am comfortable with.
In this scenario, I only need to keep the money in stocks for 1 month. It's not like investing in crypto, I'd lose barely any of it in that time if I lost anything at all.