What to do with 500k?

[whaaat]

New to this sub and I have a little bit of an extraordinary situation on hands.

I’m a 28 y/o (m) living in the Netherlands. At this point due to poor financial upbringing and consequently very poor financial decisions, I have no savings. I did pay off all my debts, so I’m basically at 0.

Now the extraordinary part; I have someone close to me willing to give me 500k euro to invest in my financial freedom. My ultimate financial goal in life is to be financially free, meaning that my passive income covers my expenses.

I have a full time job covering my expenses currently, so this 500k is available to invest completely.

Unfortunately due to my poor financial upbringing, I have no idea where to start. I have no need for the money short term, all I want is to make best use of this extraordinary opportunity that has been presented to me and set myself and my family up for future financial freedom.

My question to you is;
Where do I start? What are good long term investments? Compound interest? Stock investments? Real estate?

Where should I educate myself? At the moment I don’t know where to start and I’m afraid to make wrong decisions and regret these afterwards.

Thank you for reading and your suggestions in advance.

 

[jleq]

@whaaat I swear I have seen the same post a few months ago too. You guys have really benevolent relatives/ friends.

 

[resjudicata]

@whaaat Let me guess, were you contacted by a Nigerian prince via email?

 

[fbg]

@resjudicata Wanted to ask the same!

 

[germo155]

@whaaat I smell some Onlyfans money...

Anyway invest in ETFs and if you are willing move to a cheaper country. Like Hungary, Czechia, Poland and work there. Buy 2-3 flats. 2 to rent on airbnb and you are set.

 

[watchdognp]

@germo155 I wouldn't be saying "move to a cheaper country" as blanket advice. It's hard to integrate with the local culture especially in those countries. Also why move there for work, the salaries are lower. Yes you might have even more spare cash from the ETFs but what's the point when you can already pay your bills, after that happiness is not in the numbers.

 

[levicoleman]

@germo155 Czechia is cheep? Really? Have you seen property prices in Prague?

 

[cwalsh2468]

@levicoleman You should really look outside the capital, there's an entire country.

 

[germo155]

@levicoleman Outside Prague

 

[resjudicata]

@levicoleman “Cheaper” compared to Amsterdam, London, Paris, Oslo etc Prague is very cheap.

 

[resjudicata]

murderer

 

[resjudicata]

Do you have nothing better to do?

 

[nuka]

@whaaat Since you are Dutch you can look at the forum of tweakers and check out this topic about financial independence: https://gathering.tweakers.net/forum/list_messages/1916026
And this one about investments: https://gathering.tweakers.net/forum/list_messages/1944388

Personally I would put a lot of the 500k into meesman indexfonds https://www.meesman.nl/

I'm not an investor myself yet and don't have a lot of money, but that is what I would have done if I had.

My goal for the future is trying to go the meesman way of 'indexbeleggen'. But first things first and get some other things in my life done.

Good luck man I'm happy for you that you have this great opportunity.

 

[jeepneytravel]

@whaaat https://www.bogleheads.org/wiki/Managing_a_windfall

 

[knowledgeseeker]

@jeepneytravel This is the single best piece of advice for the OP.

 

[cabalauxz]

@whaaat /r/wallstreetbets

 

[bcp1928]

@cabalauxz This! you will have 28billion in your account in 4months including inflation so good luck!

 

[godskeptpromises]

@whaaat Your sugar daddy sure is generous.

 

[resjudicata]

@whaaat

Now the extraordinary part; I have someone close to me willing to give me 500k euro to invest in my financial freedom.

Rofl

 

[bcp1928]

@whaaat dividend investing - joseph carlson on youtube
casino - r/wallstreetbets