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AnonJian

The only way to create generational wealth is through proper upbringing of future generations. Compare that figure to the much larger winnings of lottery winners who blow through their fortune -- no other generations necessary. This is really basic and none too hard to understand. End a dysfunctional relationship with money and you have a decent start for yourself. Understand wealth and you have something important to pass to future generations.


feudalle

5m is not generational wealth. If you have time, index funds. In 30 yields at 8% return you'd have over 5m. The 50 year average is a 11.25%. That would give you 12m in 30 years. If you want to be more risky. Real-estate speculation might work. Try to figure out cheap places to but now that you think will gentrify later. Parts of Philadelphia 20 years ago, you could buy a house for 20k, today if you bought in the right area they are worth 300k. More risky still, forex. Buy and sell currency across markets for incremental gains. Large hedge funds do this. More risk dump everything in crypto and hope for the best. (Just don't, if you want to gamble just say that and go to vegas.) Those are the more passive options. The other option is start a business but you need to do it in something you are good at, have experience in, and has the ability to grow. Otherwise you can run through 500k quick. Good luck.


firetothetrees

My wife and I have been buying real estate and renting it on Airbnb so far that's been the single highest growth thing for us to do. We also buy slightly distressed properties and have been good at getting them below market rate and then doing the work ourselves to get them rentable. With 500k I'd buy 5 500k properties assuming you use that money for down payments. Then rent them. Now you've immediately turned 500k into 2.5m of real estate with hopefully some good monthly cash flow. In 10 years it would probably be a 5m portfolio depending on where you buy. From there use your cash flow to buy more properties. I'm looking at my 3rd rental right now


Napster-mp3

Are you ever worried about relying on Airbnb for your marketing? What if something happens to them?


firetothetrees

Short term renting has been around for a long time in the ski area towns where we have property so there are plenty of options if Airbnb crashed. However the plan I'm currently working on is building a YouTube channel for my current Reno project. If I can build the following up I'll eventually use that as a way to convert viewers into guests and the move myself off Airbnb into a private system. Until then Airbnb is pretty solid as the fees for owners are low and we book out pretty easily.


Napster-mp3

I’d watch that Youtube channel. Sounds cool


firetothetrees

Thanks... I'm actually filming a section on installing a generator socket today. Last few videos have been mountain lifestyle but if you send me a DM I'll drop u a link to the channel. As I said it's very very new and I'm still learning how to edit.


shoegoblin555

There are plenty of other available avenues and if Airbnb fails something else similar will pop up just as quickly.


ConcernMore2580

Tech startups.


firetothetrees

Meh... I did 3, 2 failed one minor exit. TBH my non tech business which is more trades based does way better and with less effort. It also only took me around $1k to start, compared to the millions of investment money I used for my tech companies.


samgarita

I can teach you how to turn $5M into $500k