A MILLION Pound Win "Only" makes you AFFLUENT..........!
Discussion
I would be happy with 5 numbers comming my way........!
Most of us would be more than happy but it is all relative.
I know a chap with a 9 figure fortune. He was telling me how he went to a mate's place in France a few months back and looking around it felt like a doleite.
For me £1m would be life changing but not change my lifestyle that much. £10m, now we are taking about a radical change in lifestyle!
I know a chap with a 9 figure fortune. He was telling me how he went to a mate's place in France a few months back and looking around it felt like a doleite.
For me £1m would be life changing but not change my lifestyle that much. £10m, now we are taking about a radical change in lifestyle!
Marf said:
Definitely not enough to retire on, but certainly enough to make life more fun and ensure a decent pension at (hopefully an early) retirement
£250k on a house
£600k in a pension/investments
£100k split between 4 siblings and my mum
£50k on some cars.
You'd win a million quid and only give £20k each to your closest family members? £250k on a house
£600k in a pension/investments
£100k split between 4 siblings and my mum
£50k on some cars.
You mean g*t. 
Marf said:
Definitely not enough to retire on
It would give me £25,000 a year to retire on. I could cope. That is just dividing it over the next 40 years not increasing the million at all, i'd like to think invested appropriately it would give a lot more than £25k a year for the next 40 years. Randy Winkman said:
Marf said:
Definitely not enough to retire on, but certainly enough to make life more fun and ensure a decent pension at (hopefully an early) retirement
£250k on a house
£600k in a pension/investments
£100k split between 4 siblings and my mum
£50k on some cars.
You'd win a million quid and only give £20k each to your closest family members? £250k on a house
£600k in a pension/investments
£100k split between 4 siblings and my mum
£50k on some cars.
You mean g*t. 
That's a 1 bed flat here. NinjaPower said:
A million quid is nothing is it?
If I won a million tomorrow I would by 13 nicely renovated 3 bed terraced houses in my town and enjoy the £5500+ per month rental on top of my normal working salary.
Crikey, only 6.5% yield? I'd buy 10 studio flats in London and have £10k a month coming in.If I won a million tomorrow I would by 13 nicely renovated 3 bed terraced houses in my town and enjoy the £5500+ per month rental on top of my normal working salary.
I keep trying to explain to my brother that £1m is nowhere enough to retire on. After taking into account taxation, interest rates and most importantly compound inflation I think it would give something in the order of £40k per year at today's prices, definately not worth sniffing at but certainly not "Rich" by any stretch.
BoRED S2upid said:
It would give me £25,000 a year to retire on. I could cope. That is just dividing it over the next 40 years not increasing the million at all, i'd like to think invested appropriately it would give a lot more than £25k a year for the next 40 years.
But do you think yo ucould retire on £25k/year? I don't think I could...king arthur said:
NinjaPower said:
A million quid is nothing is it?
If I won a million tomorrow I would by 13 nicely renovated 3 bed terraced houses in my town and enjoy the £5500+ per month rental on top of my normal working salary.
Crikey, only 6.5% yield? I'd buy 10 studio flats in London and have £10k a month coming in.If I won a million tomorrow I would by 13 nicely renovated 3 bed terraced houses in my town and enjoy the £5500+ per month rental on top of my normal working salary.
It's obviously a huge amount of money, even to bravado riddled people who gob off about "bars" like they're loose change.
But unless you're nearer retirement you've got two choices, retire live a normal life.
I'm 35 and hope to live another 50 years at least, would mean £20k a year, plus some interest of course, minus inflation the way things are now would mean being a millionaire, but living like a guy on £25k before tax.
Or invest/spend it to improve your lifestyle greatly and accept you're going to keep doing some graft.
I would guess to most people nowadays being 'Rich' is the ability to live a lavish lifestyle and not work, hence being a singular millionaire is no longer considered being Rich. I would say in the last 10-15 year it's people's perception of being 'Rich' that has changed more than people perception of the value of a million quid. I remember being a kid (I don't live in a particularly wealthy area) a guy with a detached house and a 3 series was considered 'Rich'.
But unless you're nearer retirement you've got two choices, retire live a normal life.
I'm 35 and hope to live another 50 years at least, would mean £20k a year, plus some interest of course, minus inflation the way things are now would mean being a millionaire, but living like a guy on £25k before tax.
Or invest/spend it to improve your lifestyle greatly and accept you're going to keep doing some graft.
I would guess to most people nowadays being 'Rich' is the ability to live a lavish lifestyle and not work, hence being a singular millionaire is no longer considered being Rich. I would say in the last 10-15 year it's people's perception of being 'Rich' that has changed more than people perception of the value of a million quid. I remember being a kid (I don't live in a particularly wealthy area) a guy with a detached house and a 3 series was considered 'Rich'.
RichB said:
BoRED S2upid said:
It would give me £25,000 a year to retire on. I could cope. That is just dividing it over the next 40 years not increasing the million at all, i'd like to think invested appropriately it would give a lot more than £25k a year for the next 40 years.
But do you think yo ucould retire on £25k/year? I don't think I could...I'd be happpy with it, mortgage paid off, decent amount of interest coming in as a salary and the luxury of doing what I did in the past.
Opening a shop selling really nice cool stuff, which could add to the interest and I could do it in the knowledge that I wouldn't have to shut down due to the money running out and go back to getting a 'proper' job again.
Opening a shop selling really nice cool stuff, which could add to the interest and I could do it in the knowledge that I wouldn't have to shut down due to the money running out and go back to getting a 'proper' job again.
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