Course. If you spent 500k paying off or buying a house and a top car you'd still have just shy of £2100 cash per month debt free for 40 years.
You win or inherit £1.5m, what do you do?
- Thread starter dcl0sc
- Start date
the dark one
Winger
The tax man would take a huge chunk of any "gift".
Wouldn't pay anywhere near that for a house to be honest.
Nah me neither. Under 200k to pay mine. More than enough to never work again.
Mackem00
Striker
I'm baffled why anybody wouldn't retire on that like.
It wouldnt be tax free and you wouldn't get them returns
Which taking into accoubt for inflation would be fuxk all in 40 years time
Not if you live for 7 years or whatever it is
superdougle
Midfield
Ten 90 grand houses, stick them with a letting agent, feet up and watch my 3000/5000k a month roll in depending on occupancy payment split between a few directors me my wife (no) and bairns keep the tax down. Feet up and relax probably buy a box at the sol for me mates
I wouldn’t have thought you would get anywhere near £5k per month after fees, factoring in empty properties, damages, repairs and replacements, insurance, tax etc.
How much would a £90k house rent out for?
Dennis
Winger
Wronguns. Anyone who carries on grafting after winning 7 figures deserves the money taken away and a kick in the cock
superdougle
Midfield
That’s why I did between 3/5 90 grand house between £550 and 650 10/15% to the agent
7 @ 550 returns 3272 @ 15%
Why? How would you do it? Really depends on circumstances, if you are 20 that could have to last 60+ years.
Dennis
Winger
I'm 32. I'd make it last. You don't have to go wild you could live comfortably on that
Again depends on circumstances, far more achievable in the north east than the south east for example.
It’s certainly achievable to make it last You could probably move abroad and live like a king in some places if you wanted.
Just spending the capital, I never budgeted for returns
Joe Public
Striker
Naive, very naive.
Billy2Sheds
Winger
Probably not £60 a pint where you live mate
Billy The Kid
Striker
Buy a nice house, nice car, pay off debt.
I'd carry on working cos I like my job and just live comfortably for rest of my life
I'd carry on working cos I like my job and just live comfortably for rest of my life
Sounds like a lucky steward, they usually only pick up a pittance
5underland
Midfield
It's not enough to be lavish but it's plenty to be very comfortable. Pay off the bills, invest a bit, have a nice holiday etc. If your old enough you could retire, I've got 30+yrs left at graft so I'd have to grin and bear it for a while longer.
