Fuhgeddaboudit EDIT: as for my pizza/bagel cred, born and raised in one of the boroughs of the city. Where I live now bagel is bread with a hole and an embarrasment. yes it is the water.
A conservative way to do it is find a cheap real estate house as an investment. Buy it. Rent it out provided rent is above the monthly mortgage. Now, you got positive cash flow which will pay for the mortgage over time. Any excess amounts over the mortgage, you invest in the stockmarket. Suggest you learn about options and trade options directionally, following the trend of the stock. If you become good at it, you can generate monies on a regular basis.
I never mentioned London, also if you follow up on what i suggested by for example choosing town called Crawley (West Sussex) and check rents from adverts on spareroom.com and look at price of real estate you would do the math and see where you standing.The same could be said about Birmingham (West Midlands) I know it's far away from California and you not familiar with local realities in UK, over population and number of foreign workers from EU and some other things. This is why i wrote a reply ,not to mislead,but to give a hint,rental property for working people,single or double rooms or converted to studios with electric amenities and tenants paying the bill on the card. Better yet talk to someone who is doing this,since they actually reside in UK and buy one and follow up with few more,but these are mortgaged. Almost forgot,renting is no challenge at all,shortage rather. You give one of these Eastern European or Sri Lankan room for around half the price and he will collect rent for you,sweep around the property and fix minor problems. PS.Normally i would not say anything,but OP is from New York and i lived there for over a decade and liked the city.It was very good to me for which i am thankful
Hard to gauge your level of sophistication. A financial advisor will drain your account and cost you a lot of unnecessary fees over the years. The only thing a prudent advisor is going to do is put you in a moderate (not too conservative or too aggressive) mix of stocks and bonds. And you can do that yourself by purchasing VWELX (slightly more aggressive) or VTMFX (slightly more conservative). Or buy two ETFs (for example, put 60% in a broad stock and 40% in a broad bond ETF). If you can't handle money responsibly and need a babysitter, get an advisor. I don't mean this in a pejorative way: many people do need someone else to do it for them, and that's okay, and an important thing to know about yourself. Everyone has an area in which they feel unsure, and I certainly have mine (I just paid somebody $150 to do something on my roof that I probably could have done in 5 minutes, but I'm too afraid to walk on a roof). However, if you are able to manage money (and I suspect you are, given the amount you have accumulated), advisors are detrimental to your net worth. I hope this is obvious, but there is no advisor (and no one on this planet) who can predict the markets.
Read this as a primer as it will help you to identify priority setting: http://mebfaber.com/wp-content/uploads/2018/06/Investment-Pyramid-6.27.18-FINAL.pdf As a side note: I fear that you are asking the wrong crowd for advice. You are looking for investment advice but are asking a crowd of active traders. There is a (large) difference between trading and investing.
good intentions and all.... but real estate in UK? for a total newbie? trading? with 1% chance of success? forget about it.... I'd never advice someone to go into a zero sum game....... right now we have the most robust economy ever... there is money everywhere, so many things to do with positive expectancy..... makes no sense to do trading. in this job market, getting some training, or simply doing a bit more job hunting, and doubling the salary to 180k, should be doable in NYC.... that should cover a lot of things with a new baby.. that 900k, just let it grow in the most robust vehicle... which I have already recommended.
What SP are you referring to? The S&P 500 yield is 1.88% at the moment, and the stock with the ticker SP (SP Plus Corporation) has no dividend?