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  • FIRST POST
    • capital0ne
    • By capital0ne 7th Jan 18, 3:50 PM
    • 267Posts
    • 132Thanks
    capital0ne
    What would you do with £10k, £20k, £50k, £100k, £500k
    • #1
    • 7th Jan 18, 3:50 PM
    What would you do with £10k, £20k, £50k, £100k, £500k 7th Jan 18 at 3:50 PM
    Question I asked my colleagues at work.

    What would you do with £10k, £20k, £50k, £100k, £500k
    Answers I got were:
    £10k - holiday or new car
    £20k - holiday, new car and maybe do something to their home
    £50k - big family holiday. new cars, help kids
    None could make anything different wuth very large sums of money, but one striking theme was no one mentioned investing or contributing into their pension?
    They dis say saving was waste of time because of low interest rates, but no one seemed to understand the affect of 3% inflation.
    Quite an eye opener, but to be honest to me it wasn't really unexpected.
Page 2
    • justme111
    • By justme111 7th Jan 18, 10:10 PM
    • 2,906 Posts
    • 2,804 Thanks
    justme111
    not good - relying on advoanced technology too much
    • bowlhead99
    • By bowlhead99 7th Jan 18, 11:20 PM
    • 7,130 Posts
    • 12,945 Thanks
    bowlhead99
    Out of interest what kind of holiday would the 10k get you?
    Originally posted by economic
    For £10k you can have all kinds of 'luxury' hols.

    £1-2k is a return flight for two to pretty much anywhere in the world.

    £200 a night for 20 nights gets 4* accommodation for three weeks in most cities worldwide, burning another £4k.

    The final £4-5k in that scenario would be spending money - and everyone has a different idea of what to spend their spending money on. Perhaps; a tasting menu for two, maybe with wine, at a Michelin starred restaurant every other day could use £3k, with a rental car, fuel and other meals etc using another £1-2k. Some would consider that reasonable luxury compared to their normal lives.

    Other people would want to have more comfortable plane seats and would forego some spending money. Obviously if you already have a private jet or luxury yacht or continent-munching GT car, you might not want to buy flights at all.

    Others prefer a cruise ship to land-based hotel/motel/ self-catering accommodation. No doubt others would just prefer to take a few hundred quid for a long weekend with citybreak with massive spending money, and not need two to four weeks to relax. Others might want four months in southeast Asia which is doable if you don't want top hotels every night.

    There are all sorts of ways you can burn through £10-50k on holidays so the question doesn't seem very incisive (any more than the OP 'how would you spend £10-500k on whatever you fancy')...
    • username12345678
    • By username12345678 7th Jan 18, 11:26 PM
    • 167 Posts
    • 72 Thanks
    username12345678
    I'd invest it, whatever 'it' was.

    The £500k would bring forward my planned retirement date by a few years.
    • sixpence.
    • By sixpence. 7th Jan 18, 11:49 PM
    • 59 Posts
    • 16 Thanks
    sixpence.
    I'd be keen to know what exactly people would invest the money in?

    I would probably invest in stocks and shares up to 100k, but after that I would want to be investing in property in order to diversify.

    By that I mean, I would buy a flat and rent it out
    Last edited by sixpence.; 07-01-2018 at 11:51 PM.
    • username12345678
    • By username12345678 7th Jan 18, 11:56 PM
    • 167 Posts
    • 72 Thanks
    username12345678
    I'd be keen to know what exactly people would invest the money in?

    I would probably invest in stocks and shares up to 100k, but after that I would want to be investing in property in order to diversify.

    By that I mean, I would buy a flat and rent it out
    Originally posted by sixpence.
    I wouldn't try and put you off (i've never BTL) but it does feel like the political wind is blowing against the landlord class as the millennials finally find their voice. All parties are now producing policies targeted at 'Generation Rent' and this will, and has already, impacted on landlords.
    • sixpence.
    • By sixpence. 8th Jan 18, 12:05 AM
    • 59 Posts
    • 16 Thanks
    sixpence.
    I wouldn't try and put you off (i've never BTL) but it does feel like the political wind is blowing against the landlord class as the millennials finally find their voice. All parties are now producing policies targeted at 'Generation Rent' and this will, and has already, impacted on landlords.
    Originally posted by username12345678
    I feel like this mainly going to affect buy to let landlords not those who own outright. I would never buy to let, unless I had cash in the bank, as it is such a massive stress.

    Aside from property and stocks and shares where else could it go? Aren't those the two main things to invest in?

    Book plug: Just ordered rich dad poor dad. Well excited to read it.

    p.s I am in my twenties and voted corbyn
    • Filo25
    • By Filo25 8th Jan 18, 12:32 AM
    • 1,253 Posts
    • 1,870 Thanks
    Filo25
    I feel like this mainly going to affect buy to let landlords not those who own outright. I would never buy to let, unless I had cash in the bank, as it is such a massive stress.

    Aside from property and stocks and shares where else could it go? Aren't those the two main things to invest in?

    Book plug: Just ordered rich dad poor dad. Well excited to read it.

    p.s I am in my twenties and voted corbyn
    Originally posted by sixpence.
    Well if you think Corbyn is getting in, then stick it all in overseas assets
    • chockydavid1983
    • By chockydavid1983 8th Jan 18, 11:15 AM
    • 524 Posts
    • 309 Thanks
    chockydavid1983
    £10k - £100k: Invest
    £500k - go to PT at my job, build own home, invest
    • Mr Costcutter
    • By Mr Costcutter 8th Jan 18, 11:38 AM
    • 299 Posts
    • 765 Thanks
    Mr Costcutter
    Itís unusual to come across anyone who understands the value of money on here.
    Originally posted by TBC15
    Not sure that's true
    • Mrs Z
    • By Mrs Z 8th Jan 18, 1:45 PM
    • 883 Posts
    • 875 Thanks
    Mrs Z
    Out of interest what kind of holiday would the 10k get you?

    If I was booking today, 16 night small escorted group tour of South Africa covering Cape Town, Stellenbosch and safari in Kruger National park offered by Kuoni. Price for 2 people around £8k. The remaining £2k i'd keep for holiday spending money.
    That'd do very nicely
    • Stirfry
    • By Stirfry 8th Jan 18, 1:51 PM
    • 65 Posts
    • 37 Thanks
    Stirfry
    For £10k you can have all kinds of 'luxury' hols.

    £1-2k is a return flight for two to pretty much anywhere in the world.

    £200 a night for 20 nights gets 4* accommodation for three weeks in most cities worldwide, burning another £4k.

    The final £4-5k in that scenario would be spending money - and everyone has a different idea of what to spend their spending money on. Perhaps; a tasting menu for two, maybe with wine, at a Michelin starred restaurant every other day could use £3k, with a rental car, fuel and other meals etc using another £1-2k. Some would consider that reasonable luxury compared to their normal lives.

    Other people would want to have more comfortable plane seats and would forego some spending money. Obviously if you already have a private jet or luxury yacht or continent-munching GT car, you might not want to buy flights at all.

    Others prefer a cruise ship to land-based hotel/motel/ self-catering accommodation. No doubt others would just prefer to take a few hundred quid for a long weekend with citybreak with massive spending money, and not need two to four weeks to relax. Others might want four months in southeast Asia which is doable if you don't want top hotels every night.

    There are all sorts of ways you can burn through £10-50k on holidays so the question doesn't seem very incisive (any more than the OP 'how would you spend £10-500k on whatever you fancy')...
    Originally posted by bowlhead99
    Ive found its not the amount of money you spend that equates to the enjoyment had. In fact when I have taken inexpensive last minute holidays they have been most enjoyable. Having said that its difficult to book below 4/5* and I find myself looking longingly at Business Class seats on any flight 4+ hours long.

    Our neighbours recently went to Goa for 8 weeks. OH's worst nightmare as he would miss the Football. As you say everyone's different.

    Up to 100k I would have a holiday fund. 500k would mean additional security in retirement. Still trying to find the balance between saving and investing.
    • capital0ne
    • By capital0ne 8th Jan 18, 6:40 PM
    • 267 Posts
    • 132 Thanks
    capital0ne
    p.s I am in my twenties and voted corbyn
    Originally posted by sixpence.
    Understandable, I think we all go through a socialist stage in our lives, some people grow out of it, but Mr Corbyn will not solve any problems. The shift of the big issues will just move elsewhere.

    Remember the 'government' always gets in regardless of who wind the election and at the moment voters are just picking the least worst candidate.

    Those of us who are old enough will remember Harold Wilson's famous statement in 1967 "It does not mean that the pound here in Britain, in your pocket or purse or in your bank, has been devalued." after he devalued the pound from $2.80 to $2.40. The then Chancellor, Mr Callaghan resigned over this as a point of honour.

    Then in the 70's came the winter of discontent, wage rises restricted to 3.5% by Roy Jenkins

    Mr Corbyn will just go down that route so that's going to be something to look forward to isn't it?
    • KeepOnKnitting
    • By KeepOnKnitting 8th Jan 18, 8:07 PM
    • 145 Posts
    • 180 Thanks
    KeepOnKnitting
    The smaller amounts up to £50k would be saved for a house deposit. £100k would go half cash/half shares for deposit/retirement. £500k would buy a house in the city I want to live in and the rest in shares to make me about 80% of the way to financially independant.
    Save £12k in 2018 #62
    • moneyfoolish
    • By moneyfoolish 9th Jan 18, 12:16 AM
    • 469 Posts
    • 274 Thanks
    moneyfoolish
    Any of the amounts below £500,000, I'd just add to my savings most of which I hope will be split between my 4 children in the future. If it were the £500,000, I'd give each of the 4 children £100,000 each and add the other £100,000 to my own savings which would make no difference to my life at all other than taking my wife for a few more holidays than usual. However, I am 72 so I might look at things a bit differently if I was a younger man although most of the things that interest me don't cost very much money.
    • sixpence.
    • By sixpence. 9th Jan 18, 12:20 AM
    • 59 Posts
    • 16 Thanks
    sixpence.
    Understandable, I think we all go through a socialist stage in our lives, some people grow out of it, but Mr Corbyn will not solve any problems. The shift of the big issues will just move elsewhere.

    Remember the 'government' always gets in regardless of who wind the election and at the moment voters are just picking the least worst candidate.

    Those of us who are old enough will remember Harold Wilson's famous statement in 1967 "It does not mean that the pound here in Britain, in your pocket or purse or in your bank, has been devalued." after he devalued the pound from $2.80 to $2.40. The then Chancellor, Mr Callaghan resigned over this as a point of honour.

    Then in the 70's came the winter of discontent, wage rises restricted to 3.5% by Roy Jenkins

    Mr Corbyn will just go down that route so that's going to be something to look forward to isn't it?
    Originally posted by capital0ne
    Wasn't Thatcher worse though?
    • AlexTheLion
    • By AlexTheLion 9th Jan 18, 11:34 PM
    • 16 Posts
    • 15 Thanks
    AlexTheLion
    500k - 1x Lamborghini Aventador, 1x Lamborghini Urus
    • minerva_windsong
    • By minerva_windsong 10th Jan 18, 9:48 AM
    • 3,764 Posts
    • 8,672 Thanks
    minerva_windsong
    The £10k and £20k would probably go to savings/pension/paying off the mortgage. Once you're above that, then I'd probably take what I needed to live comfortably and take a year off work to pursue my passion (on the understanding that if I wasn't making a go of it by that point I'd go back into the workforce), and put the rest towards savings/pension/mortgage. Maybe a holiday as well but it certainly wouldn't be the priority.
    "A mind needs books as a sword needs a whetstone, if it is to keep its edge." - Tyrion Lannister

    Married my best friend 1st November 2014

    Loose = the opposite of tight (eg "These trousers feel a little loose")
    Lose = the opposite of find/gain (eg "I'm going to lose weight this year")
    • July15moomin
    • By July15moomin 10th Jan 18, 9:50 AM
    • 5 Posts
    • 5 Thanks
    July15moomin
    10/20 clear debt, invest remaining in children's funds.
    50 invest for pension, same with 100, 200 retire and hope I get to enjoy a bit of time before leaving to the tax man and children !
    • Alexmerris
    • By Alexmerris 10th Jan 18, 10:36 AM
    • 1 Posts
    • 1 Thanks
    Alexmerris
    I do have £10k: this is an inheritance and Iím unlikely to have significantly more: I want to save it and make the most of it. I see people saying ďinvestĒ: in what way would you invest it to gain the most from it?
    • CatLady13
    • By CatLady13 10th Jan 18, 10:52 AM
    • 16 Posts
    • 27 Thanks
    CatLady13
    I recently inherited the £10k, £20k, £50k, and £100k plus a bit more so I:

    - paid off my mortgage and debts
    - bought a new car (a sensible one and nothing like a Lamborghini!)
    - have had a bit of fun splashing some cash around
    - gave some to charity
    - am taking a work sabbatical with a possible career change
    - am chasing interest rates on savings accounts and squirrelling money away into various places
    - am looking into investments and upping my pension
    - have come to these forums to get a better idea about finances

    Prior to this I had very little money and definitely none to save or invest so suddenly having money to burn was a bit overwhelming! It's also a bit hard to get out of the "I can afford that so I will have that" mentality that comes with sudden wealth though putting money away into different accounts rather than having a massive lump sum in my current account does help.

    If I had a £500k windfall, I'd buy a new house, rent out my current house, and pursue whatever dreams I wanted to
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