Won £1M.....

[Qbgrey 3,983]

buy a new range rover,grind all the paint off,park in a field until it was dripping with brown rust,paint my old banger number down the side with a 4 inch paint brush,and drive it round london.buy loads if properties for rent,and so kids would have something later on.and walk up to the wife and say.see u ugly ole c...t,your times up...........only joking

[mushroom 12,388]

 

is £1M enough to retire on?

Depends. Invest it all could potentially give you an income of around £5000 a month. If you spend half of your £1m then you would expect to half that. How ever £1m is around the threshold amount needed to gain access to that type of investment fund

 

Plenty of ways to access serious funds with a lot less

You can get into a fund that pays 10% for a grand a month but you'll have to lock in for a period of time say 10 years with a lock down clause probably lasting 2-3 years

[keepdiggin 9,219]

@gaz

 

£133,333 per property you would want to generate more then £400 at month on each property

[Gaz_1989 9,539]

@gaz

 

£133,333 per property you would want to generate more then £400 at month on each property

Depends where you live.

 

And by the time you've paid an agency to manage the properties, insurance and tax on the earnings you wouldn't be left with much more

[trenchfoot 4,243]

 

 

is £1M enough to retire on?

 

Depends. Invest it all could potentially give you an income of around £5000 a month. If you spend half of your £1m then you would expect to half that. How ever £1m is around the threshold amount needed to gain access to that type of investment fund

Plenty of ways to access serious funds with a lot less

You can get into a fund that pays 10% for a grand a month but you'll have to lock in for a period of time say 10 years with a lock down clause probably lasting 2-3 years

True, but assuming you need retire from day one you need an income from day 28. A lowish risk portfolio will generate that kind of return whilst still allowing fluidity of your cash. Also set up in such away that you take under the threshold where you would have to pay income tax

[BIG G wheton machine 1,594]

I'd give 20 grand to the 5 schools in my area before I get myself a house with land

[Born Hunter 17,638]

 

 

jasus lads ye are all mad for an old place on a few acres....... trust me ya would want to have a million to have it!! when i bough my place (small old mill) on a few acres i was delighted, put up me kennels and everytin was hunky dorey....... fekin place is just a money pit.... no kidding old places are forever needing somthing done and because they are old everything is a big job and really pricey...

 

buy your few acres and build a new house!! better n cheaper all round........ a mill isnt a whole lot with the cost of everything these days.

Aye, sod that, I'd be buying a relatively newly built place tucked away in a smart but quiet country village. 4 bed and absolutely immaculate inside, classy bathroom with huge tub and massive walk-in shower/wetroom, big open fire in master bedroom and log burner in grand fireplace in the lounge.

 

Like I said, I can fantasise......

What you going to do with the spare bedrooms?

 

 

Harsh Maltenby..... very harsh!

 

I live in a four bed now! #1 is my bedroom, #2 is my makeshift gym, #3 is a spare bed & #4 is just full of shit!........ It sounds grander than what it really is. LOL.

Edited February 14, 2014 by Born Hunter

[mushroom 12,388]

 

 

 

is £1M enough to retire on?

Depends. Invest it all could potentially give you an income of around £5000 a month. If you spend half of your £1m then you would expect to half that. How ever £1m is around the threshold amount needed to gain access to that type of investment fund

Plenty of ways to access serious funds with a lot less

You can get into a fund that pays 10% for a grand a month but you'll have to lock in for a period of time say 10 years with a lock down clause probably lasting 2-3 years

True, but assuming you need retire from day one you need an income from day 28. A lowish risk portfolio will generate that kind of return whilst still allowing fluidity of your cash. Also set up in such away that you take under the threshold where you would have to pay income tax

 

Yes so long as it's not UK based

 

On mill invested to get any decent return with minimum risk would get 5% at most riskier you are the more you'll get and that won't give fluidity

 

Finding that is a rare cookie nowadays

[trenchfoot 4,243]

 

 

 

 

is £1M enough to retire on?

 

Depends. Invest it all could potentially give you an income of around £5000 a month. If you spend half of your £1m then you would expect to half that. How ever £1m is around the threshold amount needed to gain access to that type of investment fund

Plenty of ways to access serious funds with a lot less

You can get into a fund that pays 10% for a grand a month but you'll have to lock in for a period of time say 10 years with a lock down clause probably lasting 2-3 years

True, but assuming you need retire from day one you need an income from day 28. A lowish risk portfolio will generate that kind of return whilst still allowing fluidity of your cash. Also set up in such away that you take under the threshold where you would have to pay income tax

Yes so long as it's not UK based

 

On mill invested to get any decent return with minimum risk would get 5% at most riskier you are the more you'll get and that won't give fluidity

 

Finding that is a rare cookie nowadays

Rare, but not extinct ;0)

[Accip74 7,112]

Oh so sensible!..........I'd just f**k it all up on non stop depravity...........until the final £50k & then put a deposit down on a nice bungalow & wallow in self loathing ;-)

[arcticgun 4,548]

I would never work again, cottage in lakes, invest a chunk in low cost rental properties, thank my lucky stars and thats about it

[keepdiggin 9,219]

nobody's mentioned mail order brides yet.

[Accip74 7,112]

That was part of my depravity......

[trenchfoot 4,243]

nobody's mentioned mail order brides yet.

Don't get that monged that use the plot and order male brides!

[RubyTex 1,957]

Little cottage on a good bit of land with water, a 4x4, quad, large kennel set up with a fair few dogs, a massive koi pond, pay off parents mortgage, help brother buy his first house, but other than that I wouldn't work again...hopefully. I'd like to think I could grow and rear a lot of my own stuff...