Where should I invest my 500,000 that should generate my monthly income with a higher rate?

The answer is to go for funds that give the highest possible growth. Now this growth depends on fund you select which should be a factor of the risk profile you have as an investor. Find it here. Once you fund it, invest in the right set of funds.

When you expect income flow from the fund, optimise the need for liquidity with lower taxes. Taxes might be in the form of Short term capital gains which are higher than dividend distribution taxes.