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What would you do with a million pounds??
ToNik
Posts: 438 Forumite
As title really... What would you do with a million pounds?
Invest it, save it, or spend it?
ToNik
Invest it, save it, or spend it?
ToNik
0
Comments
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put it on the bed and role in the hay with a really hot guy or matthew
Slimming world start 28/01/2012 starting weight 21st 2.5lb current weight 17st 9-total loss 3st 7.5lb
Slimmer of the month February , March ,April
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put it on the bed and role in the hay with a really hot guy or matthew
Sounds fun!
I only ask as husband is awaiting some settlement money and we have no idea what is best to do with it. We are in rented house so would like to buy a property and have a holiday, other than that we're not sure the best options.
I have asked him to see a finance advisor but he is worried they will just try and get as much in fees as they can and not have his best intrest in mind.
So I thought i'd see what others would do with it?0 -
Buy a nice flat in London, rent it out and travel the world on the income.
You really ought to see an IFA, see a few and compare their charges. If you don't know what you're doing with the money you stand to lose a lot more than they'll take in charges.“I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse0 -
I'd gloat over it and cackle quite a lot 0
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Really depends how old you are....if you haven't got a house I'd be buying one first of all...you'd still get a mortgage without a job with that kind of money..
I wouldnt be working btw...theres plenty to do without working...especially when every other person doesnt like their job..
Theres the world to see for the first few years...dont go mad just keep it steady...and a new car of course..
You'd have to invest it of course....a fair bit in cash for me...so its still at my fingertips...
The rest would probably go into the markets I suppose...pension plan...ISA's etc...and dont forget Inheritance tax with that kind of money...0 -
Why would you want a mortgage?Really depends how old you are....if you haven't got a house I'd be buying one first of all...you'd still get a mortgage without a job with that kind of money..
I wouldnt be working btw...theres plenty to do without working...especially when every other person doesnt like their job..
Theres the world to see for the first few years...dont go mad just keep it steady...and a new car of course..
You'd have to invest it of course....a fair bit in cash for me...so its still at my fingertips...
The rest would probably go into the markets I suppose...pension plan...ISA's etc...and dont forget Inheritance tax with that kind of money...0 -
I'd buy as many foreclosed properties as possible, rent them out and use the cashflow to live off of.0
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What would you do with a million pound?
IME, what people do with their first million is very different to what they do with subsequent ones. Some people are very careful with the first but then take mad risks with anything extra, whereas some blow the first million and then wise up and are more prudent thereafter.
Me and a business partner both came into a few bob when we were both aged about 30. A few years later, I was building a solid asset and income base, whereas he was divorcing wife two and had just been declared bankrupt.
I've always found how different people react to sudden wealth very interesting. I can recommend "Espedair Street" by Iain Banks for a good read that also kicks this can around for a while.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
opinions4u wrote: »Why would you want a mortgage?
For gearing and the tax advantages.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
opinions4u wrote: »Why would you want a mortgage?
up to yourself I suppose...but that would be 300 grand out of your million if you're paying cash..maybe more if you're living in the city..0
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