Ask HN: What's the easiest way to make a living with $600k in cash? • Hacker News Board

Re: Ask HN: What's the easiest way to make a living with $600k in cash?

#31

Post by walrus01 » Fri, Dec 17, 2021, 12:52 AM UTC

I second the many comments here that say don't take financial advice on HN, you need a professional.

The guy who said put it into REITs earning 9% a year is somewhat close to what I've done.

By no means are past results an indicator of future success, but in 2017 I purchased a number of technology/internet/telecom industry heavy ETFs that have more than doubled in value. The mix of the different ETFs and the stocks they contain is sufficiently diverse for my risk tolerance.

Re: Ask HN: What's the easiest way to make a living with $600k in cash?

#32

Post by randomhodler84 » Fri, Dec 17, 2021, 12:58 AM UTC

Not financial advice, 600k isn’t enough unless you live in a low cost of living region.

Lazy: Send it to Gemini, buy 600k worth of GUSD, loan it on their Lend program and collect 8%pa compounded monthly. Collect 48k GUSD a year. Convert that back to bank dollars every month. Live your life.

Risky: Send it to Gemini, buy 600k DAI. Send it to ethereum chain. Buy $200 of ether that you will spend on gas. Swap half the DAI for USDC using a DEX. Deposit 300k/300k in a liquidity pool DAI/USDC and collect 18-20%pa in trade fees. Withdraw collateral every month by redeeming the liquidity provider tokens. If you wish to save gas fees, use something like polygon bridge to move it to the Polygon chain. Do LP deposits there instead.

Crazy: buy 12 Bitcoin on Gemini. Store it on a hardware wallet. Sell A fraction every few months to live. Never sell it all in one shot.

Re: Ask HN: What's the easiest way to make a living with $600k in cash?

#33

Post by [deleted] » Fri, Dec 17, 2021, 1:00 AM UTC

[deleted]

Re: Ask HN: What's the easiest way to make a living with $600k in cash?

#34

Post by saturn5k » Fri, Dec 17, 2021, 1:01 AM UTC

Buy a few apartments in capital cities in Europe. Live off from rent.

Re: Ask HN: What's the easiest way to make a living with $600k in cash?

#35

Post by Jtsummers » Fri, Dec 17, 2021, 1:03 AM UTC

marianov wrote: post #30

gota wrote: post #29

You can buy assets that pay dividends and move to a much, much lower cost-of-living place. I'm talking some city in a country where the currency exchange rate values your dollars immensely wrt. groceries, etc. You can even buy property very,very "cheap" so as to never pay rent.

Argentina

If you can reliably convert USD to ARS then this can work, but you would not want to keep your money in ARS. The inflation rate has been killer for a while now. You will also need to use the black market for good exchange rates, the official ones aren't really that good, which could become a challenge depending on where you choose to live.

Across the border in Uruguay would be a better bet with a somewhat more stable economy but still benefiting someone with USD. Or go to a country like Belize where you can use the USD without needing to convert to local currency, but still can have more purchasing power in the US.

Re: Ask HN: What's the easiest way to make a living with $600k in cash?

#36

Post by sesuximo » Fri, Dec 17, 2021, 1:03 AM UTC

Hire 6 ppl worth 100k per year but only pay them 50k per year.

Re: Ask HN: What's the easiest way to make a living with $600k in cash?

#37

Post by sys_64738 » Fri, Dec 17, 2021, 1:03 AM UTC

QYLD.

Re: Ask HN: What's the easiest way to make a living with $600k in cash?

#38

Post by paxys » Fri, Dec 17, 2021, 1:04 AM UTC

Get a job where you don’t have to face clients then?

I doubt it is realistic to survive 30-60 years on just $600K savings.

Re: Ask HN: What's the easiest way to make a living with $600k in cash?

#39

Post by murderfs » Fri, Dec 17, 2021, 1:06 AM UTC

randomhodler84 wrote: post #32

Not financial advice, 600k isn’t enough unless you live in a low cost of living region. Lazy: Send it to Gemini, buy 600k worth of GUSD, loan it on their Lend program and collect 8%pa compounded monthly. Collect 48k GUSD a year. Convert that back to bank dollars every month. Live your life. Risky: Send it to Gemini, buy 600k DAI. Send it to ethereum chain. Buy $200 of ether that you will spend on gas. Swap half the D…

> Lazy: Send it to Gemini, buy 600k worth of GUSD, loan it on their Lend program and collect 8%pa compounded monthly.

Why would you bother with this when TIPS bonds are paying out 7.12%?

Re: Ask HN: What's the easiest way to make a living with $600k in cash?

#40

Post by axegon_ » Fri, Dec 17, 2021, 1:07 AM UTC

A lot of variables at play here. Personally, given that I live in an inexpensive country, I'll pay of my mortgage and take a year of in pursuit of some personal projects which have plenty of potential but I don't have the time I truly need to focus on either of them. A year and 1-200 k would be sufficient to live off and spare over half of that on those projects. If it goes sideways, keep the rest of the money as a retirement fund and go back to a developer job.