Pretty much what the title says, I recently inherited 1.5-2 million worth of land and depending on mining possibly another 5 million in mineral royalties (I've signed a mineral lease and mining is planned to start in 1-1.5 years) I've never expected to be worth this much so I have done very little to prepare for it.
Despite the value of my inheritance it produces very little money, ~17,000 per year, possibly increasing to 25,000 after this year.
I don't have an in depth knowledge of investing, but I know the average return is 8% on the S&P 500, so I know investing is a strong choice.
I currently earn around 45k per year, and my partner is finishing nursing school this fall and should be earning around 70k after starting work.
My dream scenario is to liquidate the estate and have enough investment income to bring in at least 100,000 inflation adjusted $ per year without drawing down on my net worth. I would like for it to keep growing.
What amount of money would I need in what kinds of investments to be achieve this?
Submitted September 14, 2017 at 10:55PM by Pennies_Or_Titties http://ift.tt/2faHXss
