First off, I live in New England and it’s very expensive, so property investing right now is not worth it with the interest rates and values.
I have come into a substantial amount of money recently ($505,000) and I need to turn it into monthly income. I paid off my debts and just have a mortgage. Right now I’m just investing it in 4-week Treasury Bills producing $1,661/4 weeks in income.
I have been looking a lot into higher dividend ETFs, but I don’t really understand what ones are truly risky or not. I would like to pull in around $3,000/month in passive income, but also diversify enough that all the eggs aren’t in one basket to protect the initial capital over time.
What would you do?