Is never having a worked a bad thing?

Prothet_of_Doom

AlexLK wrote: »

800k is an opportunity to build an absolutely fantastic investment portfolio of your choosing. However, I know all too well that at such a young age the last thing thought about is the future then you wind up 30 and penniless with a whole lot of memories and hindsight.

In 1984 aged 18, my mate, got a £6K insurance payout, due to his dad being killed in a car crash when he was 8 years old.

Now £6K then would be worth what now ? £20K ?

If he'd had any financial advice, he would have used it for his first BTL in the Liverpool University Student Market, but unfortunately within 12 months, we (his friends.:mad:) had helped him squander it. My part in this was very limited, but he did buy my meal and beer one night at a local restaurant. Oh and some bright blue drink, that melted the pavement slabs on the way home.

BillJones

devilivus wrote: »

But what would people doing the hiring think?

If it were me, I'd have no interest in even seeing an applicant with that background, There's no point. They'd be far less skilled than a person who'd been in the job for ten years, you'd have no idea if they could even adjust to the work environment, and they'd probably expect in pretty short time to be on a par with people the same age as them, not people with the same experience.

I don't agree with your premise, by the way, that any sane person would blow the money in ten years by partying. You'd have to be an idiot to do that.

tiger_eyes

BillJones wrote: »

I don't agree with your premise, by the way, that any sane person would blow the money in ten years by partying. You'd have to be an idiot to do that.

Couldn't agree more. I'm cringing at the idea of wasting such a huge sum of money on partying. This person could have bought a house cash, filled up his pension and created an investment portfolio while building a solid career, but he's ended up in the worst-case scenario - penniless with no work history. Sigh.

rach_k

I'm a stay at home mum and I don't have any real need to go back to paid work when the kids are in full time school but I wouldn't just sit on my bum all day. I already do a little freelancing so I'll continue that but volunteering will be my 'thing'. I think everybody needs a reason other than themselves to get up in the morning.

So many mums (or dads) who've stayed home struggle to get back into work when the kids start school and lots of them did have good careers before taking a break. If they struggle, I can't see how a 40 year old who's done absolutely nothing would stand any chance at all. He'd be competing against 16-25 year olds fresh out of education. They're younger, fitter, will last longer in a job if an employer trains them up. If they've just finished school/college/uni, their brains will be more used to learning new things. They may also have had at least a part time job. They're pretty much better in every way.

DigForVictory

I wouldn't let a 16 year old loose with a monstrous wad of money - I'd set up a trust & match their earnings til they were 25. And (not having read the thread) I'll make the flying leap of an assumption that he is in full physical and mental health, literate & numerate.

The poor blighter has never had the terror of being rejected, the cleaned & pressed hope of a job interview, the cameraderie of drudge works with fellow drudges, the responsibility to themselves & community of getting up & being soemwhere day in day out.

Nor, from the sounds of it, has he done any volunteering, charity work, time spent rubbing alongside his fellow human beings.

If he wants to be defensible, he could at least volunteer some hours a week.

Offhand though, I wouldn't be wildly negative but worse.

Pitying.

J_i_m

melysion wrote: »

This is exactly what I would do. Buy myself a modest house so I'm at least that way secure and live on the rest - carefully - while pursuing my writing career. I could live on £30k a year having paid for a house outright with no problem at all

£30k?

I'm confident in those circumstances I could quite comfortably live with expenses of about £8k per year.

olias

There are plenty of ways to have a full and fulfilling life and achieve a lot without 'working' - ie being committed to 5 days a week every week come rain or shine.
You could:

Travel, learn about different cultures, history, the arts
Volunteer in various fields as and when the interest grabbed you
Hobbys
Academic learning
Sports - competing, coaching, running a team.
Do up a property
Create a garden
Set up a charity
Look after pets

The list is endless.

I hate when a lottery winner goes public and says 'I won't give up my cleaning job because I'd get bored just staying at home' That says everything about them as a person.

Olias

Takeaway_Addict

devilivus wrote: »

This actually isn't about me, but after sticking up for a friend in the pub earlier, who at the age of 36 has never worked, it got me thinking.

Lets assume that someone won £800k on the lottery when they were 16.
I certainly would never want to waste my life working 9-5.
Surely no sane person would. I'd be partying non-stop getting up to all sorts!
I'd spend a good few years enjoying life, and maybe at some point in my 30's-40's I'd look at getting a job maybe? (assuming i'd bured through most of hte money after buying a house)

But what would people doing the hiring think?
Obviously Work experience aside(level entry job?), would the issue of laziness be a negative factor?
If I was hiring, I'd think 'fair play...i'd do the same''. but i'm wondering what others think?

My friend is in a similar situation to that described above, and is being judged very negatively by his fiends and others, although i'm certain this is all out of pure jealousy!

You'd think fair play but you if doing your job properly would be ranking him near the bottom of the 100 applicants you have for this one job.

jimmy2times

olias wrote: »

There are plenty of ways to have a full and fulfilling life and achieve a lot without 'working' - ie being committed to 5 days a week every week come rain or shine.
You could:

Travel, learn about different cultures, history, the arts
Volunteer in various fields as and when the interest grabbed you
Hobbys
Sports - competing, coaching, running a team.
Do up a property
Create a garden
Set up a charity

The list is endless.

I hate when a lottery winner goes public and says 'I won't give up my cleaning job because I'd get bored just staying at home' That says everything about them as a person.

Olias

I agree.
People seem to think their job defines them as a person?

I'd certainly never work a day in my life if I didn't have too!!

BillJones

tiger_eyes wrote: »

Couldn't agree more. I'm cringing at the idea of wasting such a huge sum of money on partying. This person could have bought a house cash, filled up his pension and created an investment portfolio while building a solid career, but he's ended up in the worst-case scenario - penniless with no work history. Sigh.

That someone would even think that it is the "normal" response boggles the mind.