Suddenly Atractive Ginger.....
Discussion
T5SOR said:
Is it enough to retire on at 24 though.....?
Yes? It's more a month than most people will ever earn. Certainly enough to retire at 54 if it isn't blown on s
t. Nobody earning 10k a month would also work at Amazon for an extra 1500...Though I do wonder whether it is inflation linked.
"He also said that a hot air balloon ride and a tandem skydive are also on there as well as a deposit for a home and a family trip to Disneyland."
Maybe leave the skydive for a bit later, you know, just in case. Wonder what 10k/month will be worth in 20 years, probably minimum wage by then
Maybe leave the skydive for a bit later, you know, just in case. Wonder what 10k/month will be worth in 20 years, probably minimum wage by then
I actually think I’d be more suited to a drip feed of £10k than a lump sum, fair enough I could invest for interest etc, but I’d then be easily tempted with extravagant purchases.
Where as this way you stay grounded and but still enjoy each month.
Not ‘too much’ but plenty enough to be comfortable.
Where as this way you stay grounded and but still enjoy each month.
Not ‘too much’ but plenty enough to be comfortable.
Shuff4 said:
I actually think I’d be more suited to a drip feed of £10k than a lump sum, fair enough I could invest for interest etc, but I’d then be easily tempted with extravagant purchases.
Where as this way you stay grounded and but still enjoy each month.
Not ‘too much’ but plenty enough to be comfortable.
Yep. I'd be... er... set for life. Especially as I'm in my late 40s.Where as this way you stay grounded and but still enjoy each month.
Not ‘too much’ but plenty enough to be comfortable.
Integroo said:
T5SOR said:
Is it enough to retire on at 24 though.....?
Yes? It's more a month than most people will ever earn. Certainly enough to retire at 54 if it isn't blown on st. Nobody earning 10k a month would also work at Amazon for an extra 1500...Though I do wonder whether it is inflation linked.
)T5SOR said:
Integroo said:
T5SOR said:
Is it enough to retire on at 24 though.....?
Yes? It's more a month than most people will ever earn. Certainly enough to retire at 54 if it isn't blown on st. Nobody earning 10k a month would also work at Amazon for an extra 1500...Though I do wonder whether it is inflation linked.
)If so, you could put £3000 a month into a pension fund. That still leaves you £7000 a month ‘take home’, the equivalent of a normal tax paying person being on £140k a year.
I’m not sure carrying on working for Amazon would change his new lifestyle much.
Paul_M3 said:
T5SOR said:
Integroo said:
T5SOR said:
Is it enough to retire on at 24 though.....?
Yes? It's more a month than most people will ever earn. Certainly enough to retire at 54 if it isn't blown on st. Nobody earning 10k a month would also work at Amazon for an extra 1500...Though I do wonder whether it is inflation linked.
)If so, you could put £3000 a month into a pension fund. That still leaves you £7000 a month ‘take home’, the equivalent of a normal tax paying person being on £140k a year.
I’m not sure carrying on working for Amazon would change his new lifestyle much.
LosingGrip said:
As someone else said, it's a nice way to get the money without wasting it all at once.
I'd still stay working though as I enjoy it and it would be boring after a while.
Might go part-time for a bit though!
It depends what you do though - would you pack boxes at Amazon or whatever this chap does?I'd still stay working though as I enjoy it and it would be boring after a while.
Might go part-time for a bit though!
I certainly wouldn't be working the 60 to 70 hour weeks I do!
anonymous said:
[redacted]
I quite enjoy my job, I’d enjoy it a lot more if I didn’t have to think about paying the bills each month How long that would last, who knows, but I’d be thinking about paying off the house, saving some money and having some fun for the next few years before retiring early and enjoying just the income.
Butter Face said:
Paul_M3 said:
T5SOR said:
Integroo said:
T5SOR said:
Is it enough to retire on at 24 though.....?
Yes? It's more a month than most people will ever earn. Certainly enough to retire at 54 if it isn't blown on st. Nobody earning 10k a month would also work at Amazon for an extra 1500...Though I do wonder whether it is inflation linked.
)If so, you could put £3000 a month into a pension fund. That still leaves you £7000 a month ‘take home’, the equivalent of a normal tax paying person being on £140k a year.
I’m not sure carrying on working for Amazon would change his new lifestyle much.
Tax
The Annuity Payments (and Capped Annuity Payments) comprise of a capital and interest element. The capital element is tax free and the interest element is subject to applicable tax. The amount of tax You will pay will depend on Your circumstances. However, based on the tax rules and rates at the date of these Game Specific Rules, the Annuity Payments will not be less than £10,000 after tax (subject to capping). You should contact Your local Her Majesty’s Revenue and Customs Tax Office (HMRC) for more information. Camelot recommends that You take independent financial advice in relation to the Prize and associated tax consequences.
Interesting that.
anonymous said:
[redacted]
Is it though?When you work you have approx a third of your time to yourself (1/3 sleep, 1/3 work. 1/3 leisure). If you don't work that doubles to 2/3 of the time. Plus you're not tired from being at work. So now you have a lot of time to fill and a lot of money to fill it with. And it you do it right, on houses, holidays and cocaine usually the money runs out before the time does.
It is more than enough to never work again (for most people anyway). But we see it often that people who aren't used to money can't handle having money.
Whilst it’s tax free, how does it impact on any ‘additional earnings’?
For example if you set up a business doing something you enjoy, are you going to end up paying 50% tax on anything you make from that as it’ll tip you over the higher rate threshold?
BTL’s would end up having the same outcome too?
For example if you set up a business doing something you enjoy, are you going to end up paying 50% tax on anything you make from that as it’ll tip you over the higher rate threshold?
BTL’s would end up having the same outcome too?
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