What to do with 500k for best monthly return.

Snakes_Belly

Be very careful investing in the stock market at present as we are in uncharted territory. If you do invest in small tranches over a period of time.

Snakes_Belly

If you could get a property at the right price I think that there is still some mileage in the rental market especially to professionals that may be transient and not want to put down roots yet.

Eco_Miser

Note that investing in real property, especially holiday lets, amounts to running a business, with actual work to be done, (or paid for if you choose to use an agent for the hard part).

For practical advice on living off capital see https://monevator.com/category/deaccumulation-2/page/3/
Note that this is a blog, so starting with the earliest post and working forward in time is probably best, but opposite to the way the index is arranged.. That page lists just one contributor, there is much more useful information from the other contributors, and there is also a very useful list of platforms for investing, and their charges.