Currently I live in Netherlands. I have come to a crossroad and I'm interested to hear other opinions and advice on investment for a regular stable long term income. My ultimate intention is to secure a regular 2-3k monthly income, so I can move to my family abroad and help out there. I understand there are so many variables in this scenario, and I've turned it over and looked at options. This is what I've come up with.
I currently have a house worth 500k+, with mortgage less than 200k remaining. The house has more than doubled since I originally purchased. House is in Netherlands.
Also I'm at the point where I have enough liquid cash from investments to settle the 200k mortgage in its entirety and an extra buffer for 5+ months.
I'm wondering at this point if I should use the cash to pay off the mortgage, and prepare to rent out the house, with the intention of having it fully managed. I believe the house will fetch 2.5-3k monthly before any management, taxes or deductions. What I think is that I will still have the paid-off house itself, that can later be sold in a decade or so, while I collect rent until then.
Or if I should sell the house and contents, consolidate all the cash into a 500k pot and invest that into an S&P 500 tracker, and sip off that? In this scenario, I would not have the house to deal with, but I still want to guarantee an income without depleting the pot too much.
Otherwise if there is some other vehicle or path I should consider (That I can have control over, and will have access for income)? I've looked at other options like Investment Funds, Savings Deposits and crypto trackers (crypto could go anywhere but is something I understand).
Edit: I have a reasonable amount of experience with trading stocks and crypto, that is to say I'm not afraid of investments, but I'm looking for a relatively hands-off "stable" long term investment (Mentioned S&P tracker, ETF or such) rather than day trading. The reason is I intend to focus on some family obligations in a less expensive country for a few years or decades, while my rental/investments provide a reasonable return to support my life while I focus on that. I'm also familiar with running my own business being a successful freelance contractor for many years, so I would say I'm fairly savvy in managing business and such. Just some context.
Edit2: Lastly, I'm after having some discussions with some direct neighbours who just sold a month ago, I'm definitely now leaning toward selling and investing the money. Renting sounds great, if I could ensure good, stable, long term tenants, but I have heard many times by now that is a big ask. With the housing market being what it is right now, its also a good time to sell.
Edit3: Probably should clarify, I'm not American, although I've been assumed to be many times in my life. Also, I'm looking to find an appropriate investment vehicle that I can manage from Netherlands, as that's where I plan to keep my funds, main accounts and registered business. I have heard and seen online many options for Americans, but I'm struggling to find many options that are relative to Dutch residents. I'm not super knowledgable with all the types of investment available though, that could give me a 5-7% return. Any advice would be appreciated?
