£80,000

natlie

ViolaLass wrote: »

Paying your student loan off is unlikely to be a smart use of your money.

Where can you buy a 6 bed house for £80k??

Lol and where can you get a mortgage to cover a 6 bed house for £200 per month it would be 80 years long

natlie

Seriously though you can buy cheap holiday homes abroad as an investment south of France you can get houses for £30k and up but this is not going to provide you with a stable income for the rest of you life - you have to work. Just running my family of 5 on basics costs £40k per year - have you planned for kids/marriage/home (big life costs) etc in your £80k

davelester414

ignoring comments that aren't worth responding to, because i know i can buy cheap properties in the uk, or 1 bed flat berlin...have to work bottom line....

bowlhead99

davelester414 wrote: »

ignoring comments that aren't worth responding to, because i know i can buy cheap properties in the uk, or 1 bed flat berlin...have to work bottom line....

Not sure i'm entirely following you, because you said your knowledge of the property market is limited and clearly you don't have experience in investing, but now you're saying you're ignoring comments that dare to question whether you could actually spend your 80k on a cheap UK or German or Indonesian place and generate enough for you to live on forever?

Basically if you are willing to move anywhere in the world and work as a superstar DJ or English teacher to cover all your living costs and the cost of getting to whereever in the world you are going, and you earn enough to invest a few hundred thousand in real terms along the way to cover the 50 years when you've become too old to work but haven't died yet, then yes, your 80k will last forever. Because you don't need it, because you had employment. That will be easier if you can still live rent free with your parents in the places where you are DJing and teaching, as you'll keep your costs down. I hope they're good travellers.

If instead you spend 8k a year from the 80k when you're losing a few thousand from it in real terms due to inflation and only growing the pot by a few thousand from a conservative investment, you won't get even as much as a couple of decades of spending money out of it. Whereas I assume as a 28 year-old you might live to 108 so you actually need it to last 8 decades.

The good news is that even without investing it you could just split it up into £1k parcels and spend one a year. Of course, the 80th one you spend will be worth less than £100 in today's money, assuming 3% a year price inflation. But as an old fogey maybe you'll have simpler tastes by then and won't need more than 30p a day to provide food, accommodation and healthcare.

If you still reckon you are serious and not just trolling, feel free to actually join in the discussion and maybe you'll get some help. But yes as you said, bottom line you will have to work.

davelester414

bowlhead99 wrote: »

Not sure i'm entirely following you, because you said your knowledge of the property market is limited and clearly you don't have experience in investing, but now you're saying you're ignoring comments that dare to question whether you could actually spend your 80k on a cheap UK or German or Indonesian place and generate enough for you to live on forever?

Basically if you are willing to move anywhere in the world and work as a superstar DJ or English teacher to cover all your living costs and the cost of getting to whereever in the world you are going, and you earn enough to invest a few hundred thousand in real terms along the way to cover the 50 years when you've become too old to work but haven't died yet, then yes, your 80k will last forever. Because you don't need it, because you had employment. That will be easier if you can still live rent free with your parents in the places where you are DJing and teaching, as you'll keep your costs down. I hope they're good travellers.

If instead you spend 8k a year from the 80k when you're losing a few thousand from it in real terms due to inflation and only growing the pot by a few thousand from a conservative investment, you won't get even as much as a couple of decades of spending money out of it. Whereas I assume as a 28 year-old you might live to 108 so you actually need it to last 8 decades.

The good news is that even without investing it you could just split it up into £1k parcels and spend one a year. Of course, the 80th one you spend will be worth less than £100 in today's money, assuming 3% a year price inflation. But as an old fogey maybe you'll have simpler tastes by then and won't need more than 30p a day to provide food, accommodation and healthcare.

If you still reckon you are serious and not just trolling, feel free to actually join in the discussion and maybe you'll get some help. But yes as you said, bottom line you will have to work.

there is property in the uk that is cheap, which can be bought and rented out.....at 200 a month...with 6 beds....thats 1200...not going into how many houses involved etc and locations.....

with indonesia, there are villas out there for 50k....coming with pool etc...desirable location....turn into home stay and teach english as a foreign language....nice income of 6/700 quid a month...goes a long way in Indo.

there are flats in berlin for less than 80k...just got to look...


thats all i have to say really...i appreciate your lengthy post, i'm just trying to find a way of investing my money....no trolling.

of course, i could pay off all of my student debt...it would be nice to eradicate that immediately...or i could get mates of mine working in Perth, australia to sort me with employment which will earn 20k+ a year...after two years, thats practically eradicated student debt....little outgoings etc.....

dingdong3000

I don't understand

If you think you can buy in such places with 80k then why don't you take action and actually seek some professionals.
They'll have more input into investing houses/flats overseas.
I had alot more to say but there's no point. Hopefully you will live and learn that life isn't that easy.

All i see is L-A-Z-Y across your head.

zaksmum

you could certainly buy on Merseyside for £80K and indeed, a lot less.

Plenty of houses in my area going for around £60K that could be rented out for £500 a month.

davelester414

I've seen 3 bed houses going for 30k a pop...no mortgage....

Aegis

davelester414 wrote: »

I've seen 3 bed houses going for 30k a pop...no mortgage....

If you have then there's something seriously wrong with them and it's very unlikely that anyone but a professional should be buying them.

I'm sorry, but I have to agree with the others in this thread. Your net position (i.e. £50k after accounting for debt) simply isn't enough for you to avoid having to work if you want any sort of decent quality of life in future. Even if you had 10 times that figure, I'd be sceptical as to whether it would be enough to allow someone to stop working immediately based on no other assets.

Regrettably you're going to have to find work eventually, and the earlier you do so the sooner you'll be able to retire properly.

ViolaLass

davelester414 wrote: »

I've seen 3 bed houses going for 30k a pop...no mortgage....

And do you KNOW that people want to rent them? If so and they're that cheap, why aren't people buying them?