Imagine this...

You're in your early twenties, single, with a good paying job. . No restrictions. And you are awarded $500,000.

What do you do with it?
It's not enough to "live off the interest" like everyone says they would do if they were to "win the lottery". It's enough to pay for a car and an alright house.. but you'd still have to work to pay your bills. . Although living comfortably. .
but, if you're 22 and single, do you want to buy a house? Go to school?For what? Invest? In what, why? Buy a business?

What would you do? And why.

that's a lot of cocaine, but every more crack.

If i was in my early twenties with that much money, I would set aside an account, probably a Cetrificate of Deposit, and invest 50-100 thousand into that. With the money leftover, I would invest the maximum amount allowed per month into a Roth IRA or some tax deferred investment option, and continue to do this for as long as I can until the winnings run dry

1) Open my own Rita's Water Ice.
2) Buy an apartment complex and live in one of the apartments.

I would put about 450,000 into savings, if not 475,000. Savings and/or investments so it would grow over time.


The remainder I would keep in my regular chequing account. I wouldn't change my lifestyle or anything drastic. If anything I'd buy an extra xbox game a month (I currently limit myself to 3 every 2 months).

hmm, egg girl has a halfway decent idea. i think i might buy some franchise too, something guaranteed to make money, like a mcdonalds. then i'd buy a duplex and live in one half and rent out the other, slowly gathering money for my future little real estate empire of rentals.

This. With that much money I wouldn't want to gamble it, when the housing market looks on the up again once it had stabilised I would definitely consider buying a house.

The only housing at the moment I would consider would be ones I can rent out, especially near a college or university.

$500k would buy you an OK apartment in the city or a moderate one in the suburbs.

Here's an 8-unit property for $225k.

I'd rather sleep in a dumpster. At least then burglars won't know that what you're living in is habitable.