I would say the title of this post is different but catchy because imagine if I get $1 million, it will take some time for me to figure out what I can do. Before writing this post I thought about what I could do with such a big amount of money and let me tell you that if used well then this amount can turn out to be even more valuable and can generate a source for passive income. I am someone who believes in passing income and especially after the Covid pandemic, I have been focusing more on this.
As I said this is a big amount and some amount I will spend to buy things but also invest a major chunk to create passive income and profitability.
I will buy a house for $200k and I can get a good house in this budget in India. I would prefer to buy a house and not a flat because I can construct some floors on this if needed. I would go with a two-floor house and will stay on the ground floor. rest two floors I will rent out to generate passive income and I can get a good amount every month. I will also get rid of the monthly rent that I pay currently.
I will give $50k to my mother and this is the amount that is good enough for her because she has very limited expenses and even the interest on this amount can be enough for her expenses.
I will be spending 50K to buy a car for me and some jewellery because I'm fond of jewellery and it is something that is never enough for me however I be spending wisely so that I don't end up spending so much money on the jewellery. Although it is also a kind of investment but is still it is an emotional investment that will not generate any passive revenue or income but in the long term, it is going to be more valuable because of the market and gold appreciation.
Now I am done with 300K and left with 700K dollars. I will split this amount into 3 parts like 200+200+300.
I will be investing 200K in Bitcoin with a long-term mindset because ultimately it is the currency and holding it more is always a great idea.
I will invest another 200K on the Leo token because it is one of the tokens that is highly undervalued this time and with the kind of work the team is doing, we make it way more valuable in future. I will buy and power it up all immediately so that I can start generating some curation reward and I'm sure in the next few years this should be increasing my holding nicely. This is another of my long-term investments which will be much more valuable after five years.
The remaining 300k I will be investing in the hive and powering it up as well. Holding more HP is something that we all want to achieve and it's a key on the chain. This will also generate a passive reward through the curation which is another passive income source for me and I know that the value of high is also going to grow in the next few years nicely. So I can say that most of the options that I will go with this money will be generating passive income for me whereas I will continue to own the holding since it is my investment and I will have control over everything.
I'm not going to invest any money in the products or instruments of the banks because they are not paying well at all and investing in the house is worth it because this will help me get rid of paying rent and also will generate some passive income for the rental.
cheque out the above post if you are interested in participating in this initiative every day there is a different topic that is fun and allows us to share our thoughts.
Thank you so much Stay Safe
What would I do with 1 Million Dollars | Ecency
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