Would you quit your job for 1 million quid?

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How much interest can you earn from 1 million then?

Without even trying, during the period of the lowest interest rates history, you could still earn about the equivalent of a £25k per year salary in interest alone. That's without touching the capital, if you included drawing down on the capital you could have more still - presuming interest rates return to something more normal, then you'd be in for a pay rise before long.
 
Aye. Invest a chunk of it in houses and live off the income from that plus the money left over. Piece of piss, in theory.
BTL mortgages, in Peterlee you need about £20k to buy and get a 3 bed house ready to live in and you'd get about £200 a month average income after costs
Buy 20 for £400k and you'd have an income of £4,000 per month after costs (half in my name, half in the wife's for tax purposes), and £600,000 left to spend on whatever you want.
We could both quit our jobs, new cars, new house, no debt whatsoever and £4k/month for life. Easy.
 
f***ing rights I would.

Buy myself a nice little house outright, buy a couple of reasonably priced properties outright and rent them out. No mortgage to pay every month, money invested is reasonably safe (subject to house prices rising and falling) and a nice bunce coming in every month to live off.

Might get myself a daft little job with the bare minimum of responsibility for beer money.
 
No I’m useless with numbers I just do what excel tells me

But 1,000,000 / 60 is 16.67k

What's the relevance of 60? Are you going to store the million under your bed?

BTL mortgages, in Peterlee you need about £20k to buy and get a 3 bed house ready to live in and you'd get about £200 a month average income after costs
Buy 20 for £400k and you'd have an income of £4,000 per month after costs (half in my name, half in the wife's for tax purposes), and £600,000 left to spend on whatever you want.
We could both quit our jobs, new cars, new house, no debt whatsoever and £4k/month for life. Easy.

Or be a knacker and put it under your bed and draw it down over 60 years. ;)

Oh and no debt except for your 20 mortgages. ;)
 
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BTL mortgages, in Peterlee you need about £20k to buy and get a 3 bed house ready to live in and you'd get about £200 a month average income after costs
Buy 20 for £400k and you'd have an income of £4,000 per month after costs (half in my name, half in the wife's for tax purposes), and £600,000 left to spend on whatever you want.
We could both quit our jobs, new cars, new house, no debt whatsoever and £4k/month for life. Easy.
Sounds canny enough to me.
 
Sounds canny enough to me.

Meh, you are given £1m quid then spend £400k of it on deposits while taking on about £1.2m of debt, all on property, in Peterlee. There's a few potential flaws in the plan imo, the main one being interest rate fluctuations, could easily wipe out a lot of the profit.

I'd consider diversifying a bit.
 
Or be a knacker and put it under your bed and draw it down over 60 years. ;)
Oh and no debt except for your 20 mortgages. ;)
Nah, houses go into a Limited company. The company has the debt on the balance sheet, but also the assets - which will be much more than the debt (75% LTV mortgages)
 
Aye, stick it in an offshore bond in the Isle of Man. Let's you draw out 50k a year tax free. They re-invest the capital on your behalf and with a bit of luck and a 5% yield the next year you have pretty much what you started with
 
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