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By *erriAnne OP TV/TS
over a year ago
The shire |
If you won a million quid could you retire on it. I don't think I could. Once I've bought a nice house and furnished it had a holiday and bought a couple of cars I think that would leave around 500k maybe. Even at 25k per year earnings that's only 20 years wages left. What would you do with it and could you retire. |
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Once I'd paid off a few small debts, bought a house and a decent car.
I would set up some sort of trust fund for my kids for uni or a house deposit.
Treat myself to a nice holiday.
That would leave me with around £600k I would probably invest in property or caravans on holiday park to let out.
I definitely couldn't or wouldn't want to retire just yet. |
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You could if you invested it well its still possible to make 5-9% interest on investments if you are shrewd and make sure you only take the profit above capital plus interest. so say 7% net which would be 70k pa. |
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By (user no longer on site)
over a year ago
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"You could if you invested it well its still possible to make 5-9% interest on investments if you are shrewd and make sure you only take the profit above capital plus interest. so say 7% net which would be 70k pa. "
Not really. I’ve got mortgages so makes sense to pay them off as paying interest on them. Wouldn’t leave enough for me to retire and live comfortably x |
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By (user no longer on site)
over a year ago
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A million quid not the life changer it once was.. ok 4 bed detached "darn sarf" 600k plus. car, holiday. a few pressies for others ...300k in bank...if yr 60 then yeah but at 30 your working first a few more years.... |
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