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Retired - then you made a million?

24

Comments

  • kidmugsy
    kidmugsy Posts: 12,709 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Silver has about doubled over the past year. At least, it has if (i) you grasped the nettle and bought some, and (ii) you grasped the nettle and sold it.
    Free the dunston one next time too.
  • dzug1
    dzug1 Posts: 13,535 Forumite
    10,000 Posts Combo Breaker
    bigfreddiel wrote: »
    Has anyone here retired and then freed from your day to day money earning activities gone on to earn a million?

    How did you do it?

    fj


    I'd suspect that for someone retiring at say 60 on a reasonable income, living modestly and investing wisely that by the time they are 80 or 90 they could well have a million.
  • dtsazza
    dtsazza Posts: 6,295 Forumite
    kidmugsy wrote: »
    Silver has about doubled over the past year. At least, it has if (i) you grasped the nettle and bought some, and (ii) you grasped the nettle and sold it.
    Yes, but it hasn't doubled for ten years in a row, nor will it.

    Anyway - OP, what was your motivation for asking? At first I thought you might be talking about what one would do with a million when retired (e.g. blow it on jetski holidays, give it to grandchildren immediately, set up a trust in one's will, etc.). But it's not clear at all whether you're actually looking for advice on how to get the million, or interested in the tax implications of it, and so forth...
  • sharpy2010
    sharpy2010 Posts: 2,471 Forumite
    bendix wrote: »
    Is this the most ridiculous question ever asked on MSE?

    No, it isn't, it's an interesting question.
  • SailorSam
    SailorSam Posts: 22,754 Forumite
    10,000 Posts Combo Breaker
    Maybe i could sell my body.
    How much are gigolos paid these days.
    Liverpool is one of the wonders of Britain,
    What it may grow to in time, I know not what.

    Daniel Defoe: 1725.
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    bendix wrote: »
    Is this the most ridiculous question ever asked on MSE?

    Perfectly reasonably question, could be some bright person shackled to a well paid career retires, becomes bored, decides to start up a business that is successful and realises that they should have done that in the first place
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • diable
    diable Posts: 5,258 Forumite
    bendix wrote: »
    Is this the most ridiculous question ever asked on MSE?

    on no, there have been far more ridiculous questions asked on this forum.........
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    I bet some of those ex footballer commentators (and managers) have only become rich after retirement, after all soccer wages were not that great back in the day.
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • Batchy
    Batchy Posts: 1,632 Forumite
    ask andy gray!!!
    Plan
    1) Get most competitive Lifetime Mortgage (Done)
    2) Make healthy savings, spend wisely (Doing)
    3) Ensure healthy pension fund - (Doing)
    4) Ensure house is nice, suitable, safe, and located - (Done)
    5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)
  • Bunter_2
    Bunter_2 Posts: 128 Forumite
    edited 19 April 2011 at 2:54PM
    StevieJ wrote: »
    Perfectly reasonably question, could be some bright person shackled to a well paid career retires, becomes bored, decides to start up a business that is successful and realises that they should have done that in the first place

    This reminds me of a short story I once heard on the radio. A guy in a low paid job (I think he was a church warden or suchlike) gets the sack because his employers discover that he is illiterate. He is forced to do something different and goes into business, becomes successful, and is eventually a millionaire. The story closes with someone saying to him, "just think what you could have become if you had been able to read and write?"

    Yes!, says the millionaire, (with a little chuckle) I know very well what I would have become, A church warden"!

    Retirement changes things and you may discover talents you never knew you had.
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