how to "spend" up to 6 figures
Discussion
I've been fairly frugal over the years and have been fortunate to earn a decent enough income to build up some savings. The long-term intention is to buy a nicer house but my partner isn't interested in moving for a good while as we have a decent primary within a short walk, kids are 5 and 8.
I've got some in shares but I'm rubbish at investing - a chunk more is in cash in a 5.2% savings account.
I don't think there's a more suitable forum group on Piston Heads, but this is a weird one....I'm 50 now, that money brings me no happiness but I need it to buy the forever house.
So, how can I temporarily (3-6 yearsish) spend anything up to £250k on something(s) that are enjoyable but not lose any(ish) of the cash? Please let's mull over some ideas if it's even possible? I'm struggling with a "good problem" to have.
One hugely important point to note, given the forum... I do have a double garage it's got 4 motorbikes and stuff in it. There's parking for 2 more cars but any car suggestions probably won't work as I have no reason to drive anywhere other than take the kids swimming etc. If I fancy a joy ride, I'll take a motorbike. Side note - I do plan to splash on 3 year old XC90 T8 next year.
I've worked hard but feel like I'm getting no (extra) enjoyment from what I've saved which just seems all wrong to me.
Thanks
I've got some in shares but I'm rubbish at investing - a chunk more is in cash in a 5.2% savings account.
I don't think there's a more suitable forum group on Piston Heads, but this is a weird one....I'm 50 now, that money brings me no happiness but I need it to buy the forever house.
So, how can I temporarily (3-6 yearsish) spend anything up to £250k on something(s) that are enjoyable but not lose any(ish) of the cash? Please let's mull over some ideas if it's even possible? I'm struggling with a "good problem" to have.
One hugely important point to note, given the forum... I do have a double garage it's got 4 motorbikes and stuff in it. There's parking for 2 more cars but any car suggestions probably won't work as I have no reason to drive anywhere other than take the kids swimming etc. If I fancy a joy ride, I'll take a motorbike. Side note - I do plan to splash on 3 year old XC90 T8 next year.
I've worked hard but feel like I'm getting no (extra) enjoyment from what I've saved which just seems all wrong to me.
Thanks
Nothing enjoyable will not lose any money.
You might want to buy a classic car, they can lose as well as gain. Golf, will cost. Mountaineering, will cost. Enjoying good food, will cost. You get the picture. You have to either resign yourself to not spending money or do what I did and took decent holidays that even youngsters remember. We did Kenya, beach and safari when my son was probably in between your two. He loved it. Caribbean, several times, he loved those holidays too. Cost money but the memories are forever.
You might want to buy a classic car, they can lose as well as gain. Golf, will cost. Mountaineering, will cost. Enjoying good food, will cost. You get the picture. You have to either resign yourself to not spending money or do what I did and took decent holidays that even youngsters remember. We did Kenya, beach and safari when my son was probably in between your two. He loved it. Caribbean, several times, he loved those holidays too. Cost money but the memories are forever.
Big Holidays and the like are sort of the opposite of what I am asking here. I want to more or less hang on to this money so I can get the house later. Art and classic cars are all along the right lines. Art's not really my thing, cars 100% are, that's why I am on the forum, but I have no garage space plus I don't see a car(s) would ever be used..
Thanks so far...
Thanks so far...
Buy a McLaren 675 LT spider in a colour other than white.
Prices are currently rock bottom with prices starting with a 2, and within 2 years shall start with a 3.
Not your typical supercar as totally reliable, cheap to service and as happy doing 500 miles in a day as nipping out for a takeaway, so an investment to use and enjoy.
Prices are currently rock bottom with prices starting with a 2, and within 2 years shall start with a 3.
Not your typical supercar as totally reliable, cheap to service and as happy doing 500 miles in a day as nipping out for a takeaway, so an investment to use and enjoy.
Not really. I sort of want the size I have now but on 2 floors (not 3) or maybe even one. I want space in the garden for outbuildings. My kis are young remember. They'll probably be at home well into (at least on and off) their 20s. I will be 65 -70 then. I can downsize after that....maybe.
ollya said:
So, how can I temporarily (3-6 yearsish) spend anything up to £250k on something(s) that are enjoyable but not lose any(ish) of the cash? Please let's mull over some ideas if it's even possible? I'm struggling with a "good problem" to have.
Looking at things objectively, you need to park the cash somewhere risk-free for up to six years. And while there, it needs to generate a return that'll ideally keep up with any future house price inflation. None of that really falls into the "enjoyable" category.ollya said:
I've worked hard but feel like I'm getting no (extra) enjoyment from what I've saved which just seems all wrong to me.
Have you considered allocating a set amount (say, £230k) to the house fund and then using the rest to spend on holidays / experiences with the family that you'll all enjoy and remember? Gassing Station | Finance | Top of Page | What's New | My Stuff