If you had £250,000 in cash...
If you had £250,000 in cash...
Author
Discussion

dirty boy

Original Poster:

14,858 posts

238 months

Wednesday 21st January 2009
quotequote all
...no mortgage various other investments, decent work pension, had a family hack and a weekend car...

were approaching retirement (say 5-10 years)

What would you do with that money given the current climate?

No hookers and drugs, no more cars (no room)

Property abroad? Cash in Euro accounts? Ideas?

Purely hypothetical


Cheers

DB

10 Pence Short

32,880 posts

246 months

Wednesday 21st January 2009
quotequote all
I'd be £249,999.90 in credit.

The Black Duke

1,642 posts

222 months

Wednesday 21st January 2009
quotequote all
I think I would get a PPL, buy a Cessna and have some change.

sniff diesel

13,125 posts

241 months

Wednesday 21st January 2009
quotequote all
RBS shares.

Maxf

8,443 posts

270 months

Wednesday 21st January 2009
quotequote all
Phone the accountant and find out where the fk the rest is!

B17NNS

18,506 posts

276 months

Wednesday 21st January 2009
quotequote all
I'd spread it about in a few banks to minimise risk in high interest savings accounts and forget about it.

When the property market turns I would buy a couple of houses and rent them out until your kids were old enough to want to fly the nest. I would then gift the houses to the kids and then let them live in them and pay you a nominal cash rent until you and the mrs die.

Inheritance tax liability reduced
Kids get a cheap 'mortgage'
You get a tax free income for life

MitchT

17,114 posts

238 months

Wednesday 21st January 2009
quotequote all
Second home in the sun.

10 Pence Short

32,880 posts

246 months

Wednesday 21st January 2009
quotequote all
Didn't know they have a classifieds section?

Coco H

4,237 posts

266 months

Wednesday 21st January 2009
quotequote all
i would eat it

phat_phil1987

58 posts

214 months

Wednesday 21st January 2009
quotequote all
Buy an aircraft hanger so i'd have room for more cars biggrin

okgo

42,078 posts

227 months

Wednesday 21st January 2009
quotequote all
Try and make a million of it.

GreigM

6,740 posts

278 months

Wednesday 21st January 2009
quotequote all
certainly don't keep it in cash - if Gordo starts printing it'll be worth 47p in a week

dirty boy

Original Poster:

14,858 posts

238 months

Wednesday 21st January 2009
quotequote all
GreigM said:
certainly don't keep it in cash - if Gordo starts printing it'll be worth 47p in a week
I think that's the concern

hairykrishna

14,494 posts

232 months

Wednesday 21st January 2009
quotequote all
dirty boy said:
no more cars (no room)
Buy a garage. Then this;


texasjohn

3,687 posts

260 months

Wednesday 21st January 2009
quotequote all
Give £50k to family and friends,

bank the rest and go on a road trip in a nice car to look at holiday homes!

sparks_E39

12,738 posts

242 months

Wednesday 21st January 2009
quotequote all
2003 E39 M5 £15-20k
Deposit on a house, I don't know, £50k?
Give some to each of my sisters and pay of my parents debts
With the remaining £100ishk I would just keep it in a couple of bank accounts, not interested in investing,property, homes in the sun etc at this stage of my life. I would probably cut down my hours at work and return to part time education for a couple of years.

Jasandjules

72,566 posts

258 months

Wednesday 21st January 2009
quotequote all
dirty boy said:
...no mortgage various other investments, decent work pension, had a family hack and a weekend car...

were approaching retirement (say 5-10 years)

What would you do with that money given the current climate?

No hookers and drugs, no more cars (no room)

Property abroad? Cash in Euro accounts? Ideas?

Purely hypothetical


Cheers

DB
Possibly sell the house and buy a bigger one with a bigger garage for £200k, then I've got 50k to get a Tuscan Race car (25k or so with the rest to pay for track day fun)...

M3RMS

1,176 posts

242 months

Wednesday 21st January 2009
quotequote all
If I were to get that kind of money in my situation I'd firstly get myself a top spec 997 Turbo, move into my neighbours house (which is a lot bigger & nicer than mine), refresh my collection of Oliver Sweeney's and sod off to the south of france for a massive holiday (in my new Turbo).

I can but dream....

The sensible thing for me to do would be pay off the mortgage, pay off the car loan, put some in my pension etc etc blah blah boring blah. But I honestly don't think I could ever bring myself to do that.

Enjoy it mate.

JJCW

2,449 posts

215 months

Thursday 22nd January 2009
quotequote all
I'd be stumped at what to do with it if i couldn't buy a car...

It'd have to be car, then savings smile

Probably a Tamora... i just want a Tamora at the moment biggrin

qube_TA

8,405 posts

274 months

Thursday 22nd January 2009
quotequote all
Move house, buy a newer car, have a holiday add the change to retirement fund.

Boring I know.