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DaveyLC

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Registered: 8th Oct 08
Location: Berkshire
User status: Offline

26th Jul 13 at 14:20

quote:
Originally posted by Cavey
2.5% or so interest? so £25k a year?

Better off putting it in the bank and Leasing/Renting stuff with the interest

When the rates go back up you'll be laughing.

Ian W

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Registered: 8th Nov 03
Location: Wirral, Merseyside
User status: Offline

26th Jul 13 at 14:32

I'd buy a nice house but nothing extravagant, buy a nice car, 911, RS4 something like that then not sure.

Couldn't retire on it I know that but woulda enable you to live a regular life but with no money worries IMO

pow

Premium Member

Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
User status: Offline

26th Jul 13 at 14:43

Buy a nice 3 bed house, a nice every day car (evoke?), I've told mum and the misses that I'd take them to Mercedes and let them spec their own SLKs, few bits and pieces I've always wanted, put the remainder away and carry on working but not worrying

Jamie Walby

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Registered: 15th Nov 04
User status: Offline

26th Jul 13 at 14:47

quote:
Originally posted by Dom
Certainly a million quid would sweeten your lifestyle by a fair old amount but i'm not convinced it's a life changing amount of money - you're certainly not going to retire on that nor would it keep you in a lavish lifestyle for very long.

I agree with you in one sense but not having a mortgage would, in itself, be life changing IMO. Thats a lot of money to not have to worry about finding each month.

Agree about the not being able to retire/live a playboy-esque lifestyle too.

Tomnova16

Premium Member

Registered: 21st Jan 06
Location: Gerrards Cross Drives: Porsche 911
User status: Offline

26th Jul 13 at 15:02

i would buy an £800k house with £250k deposit, rest on mortgage then use the rest to make into more millions

whoever says £1m isnt life changing is a bell end, average person has access to around £30k at one time, having access to £1m changes things quite a bit

http://www.lemass.co.uk/ for all your automotive/bodyshop needs
Located in Chalfont st Peter

Nismo

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Registered: 12th Sep 02
User status: Offline

26th Jul 13 at 15:07

quote:
Originally posted by GB123
Weirdos saying they would stay at their current job, surely you'd want to be your own boss at the very least?

Not always that easy, easier to work for someone else and not worry about the woes of running a business.

turn up, work go home and switch off.

Kyle T

Premium Member

Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline

26th Jul 13 at 15:10

I'd spunk most of it and keep working I think. Get mortgageless on a decent house, buy a few cars and some ridiculous holidays then retire at 45ish.

Lotus Elise 111R

Impreza WRX STi

Generation

Member

Registered: 7th Jul 09
Location: Essex
User status: Offline

26th Jul 13 at 15:24

If you're smart you could make it last

GB123

Premium Member

Registered: 21st Nov 11
Location: Kent
User status: Offline

26th Jul 13 at 15:47

quote:
Originally posted by Nismo

quote:
Originally posted by GB123
Weirdos saying they would stay at their current job, surely you'd want to be your own boss at the very least?

Not always that easy, easier to work for someone else and not worry about the woes of running a business.

turn up, work go home and switch off.

Sure it's easier, no doubt about that, just not the way I'd do it.

A lot of money to be made out of that amount of start up capital.

LeeM

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Registered: 26th Sep 05
Location: Liverpool
User status: Offline

26th Jul 13 at 15:50

4 flats in my building would be £4-450k and return 2400 a month. and i fancy the penthouse http://www.rightmove.co.uk/property-for-sale/property-26738721.html

leaves me 300k to play with, maybe a GT-R. i'd still finish uni, get some work experience and use the rest to open my own business in a few years.

Kyle T

Premium Member

Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline

26th Jul 13 at 15:53

quote:
Originally posted by Generation
If you're smart you could make it last

Smart is boring, I'd rather live like a millionaire for a year rather than living comfortably for 40 years

Either way, with a house out of the way - any decent full time job is going to be a really nice standard of living and I quite enjoy my job, so I'd just plod along spunking my salary all over the place for a while.

Lotus Elise 111R

Impreza WRX STi

Generation

Member

Registered: 7th Jul 09
Location: Essex
User status: Offline

26th Jul 13 at 15:54

3000k house
100k in capital bonds
3000k in savings/bonds
300k to play with.

Certainly would quit work, at least for 5 years or so.

Generation

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Registered: 7th Jul 09
Location: Essex
User status: Offline

26th Jul 13 at 15:55

So you'd rather fuck about for a year, then spend 40+ years in a 9-5, thinking about life you could be living with your kids at home, constant holidays etc. That's not boring is it

Kyle T

Premium Member

Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline

26th Jul 13 at 16:03

quote:
Originally posted by Generation
So you'd rather fuck about for a year, then spend 40+ years in a 9-5, thinking about life you could be living with your kids at home, constant holidays etc. That's not boring is it

I'm not saying I'd throw all the money away and be back to square one after a year, I'd be making purchases which I'd enjoy for years such as cars, big house, all debt free.

I could live like an emperor if I didn't have to pay mortgages and car loans - and I quite enjoy my job. With that in mind, knowing family/friends have to work through the week I'd probably continue working rather than just masturbating into £50 notes at home waiting for people to come give me attention.

I'd maybe consider buying a business for a hobby, something I'm passionate about - if it bleeds money, meh. If it makes money by some miracle I could retire my career and concentrate on that I guess.

Lotus Elise 111R

Impreza WRX STi

Nath

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Registered: 3rd Apr 02
Location: MK
User status: Offline

26th Jul 13 at 16:18

quote:
Originally posted by James
It would be life changing, it's not retirement money though IMO.

Wouldn't risk it on a business start up either.

GB123

Premium Member

Registered: 21st Nov 11
Location: Kent
User status: Offline

26th Jul 13 at 16:21

Obviously not all of it

Nath

Member

Registered: 3rd Apr 02
Location: MK
User status: Offline

26th Jul 13 at 16:21

My job is a doddle. I'd be stress free with that in the bank. Perfect balance.

Generation

Member

Registered: 7th Jul 09
Location: Essex
User status: Offline

26th Jul 13 at 16:30

You're missing g the point.

I didn't say I'd be boring and spend nothing, I simply stated, with a bit of sense it could easily last

Gavin

Premium Member

Registered: 3rd Apr 02
Location: West Midlands
User status: Offline

26th Jul 13 at 16:33

£400k on a house
£150k on another house - rent it out
£30-50k on a decent car

£400k in the kitty

I'd work 4 days a week, I think that extra day off (Friday) would make such a massive different. I've been doing that recently just to use up a few outstanding holidays and it makes a massive difference with a 3 day weekend

I'd then look at retiring early. Say late 40's

pew pew pew pewwwww

Nath

Member

Registered: 3rd Apr 02
Location: MK
User status: Offline

26th Jul 13 at 16:35

4 day weeks is a good shout.

tom130691

Premium Member

Registered: 13th Sep 08
Location: Daventry
User status: Offline

26th Jul 13 at 16:39

quote:
Originally posted by GB123
Weirdos saying they would stay at their current job, surely you'd want to be your own boss at the very least?

my job pays fairly well for a starter can only go up, with no morgage you can live fairly well on an average income

quote:
Originally posted by pow
Buy a nice 3 bed house, a nice every day car (evoke?), I've told mum and the misses that I'd take them to Mercedes and let them spec their own SLKs, few bits and pieces I've always wanted, put the remainder away and carry on working but not worrying

pow evokes are only 30k, beside the new range rove sport is lovely,

if you wish to buy an evoke speak to me

pow

Premium Member

Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
User status: Offline

26th Jul 13 at 16:43

Once I've bought a house and me and misses have bought an facelift SLK ill talk to you

I have no need for a huge RRS. I'd also finish the camper exactly how I want it.

tom130691

Premium Member

Registered: 13th Sep 08
Location: Daventry
User status: Offline

26th Jul 13 at 16:58

well i intend to be a jag a while

Member

Registered: 10th Sep 03
User status: Offline

26th Jul 13 at 17:09

*Evoque

Russ

Member

Registered: 14th Mar 04
Location: Armchair
User status: Offline

26th Jul 13 at 18:15

waste a couple k on being sensible.

800k on property to rent out, slowly expand, keep working as im cool like that

[Edited on 26-07-2013 by Russ]

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