£80,000

Eco_Miser

davelester414 wrote: »

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

And I've seen two bed houses for as little as 3k - and someone was foolish enough to buy without actually looking at the property first.

At that end of the market, the risks include getting a drug dealer as a tenant, then all the windows smashed in, the place set on fire, and being compulsorily closed by the police.

swblue

I'll try to add a little to this as I think the OP has confused 2 things (I think) and perhaps could have phrased it a little different.

Firstly, no one of that age, let alone my own of nearly 30 years older can live off £80k without having another form of income and I think therein lies the clue. My son is approaching 22 and has not 'worked' in the manner that most of us would recognise but lives a fantanstic life nonetheless. Since he turned 18 he has been almost continuously overseas, Africa, Mozambique, Costa Rica, Panama Nicaragua and now Dominican Republic. He has got more money now than he had at 18.

How has he done this? By 'working' as a surf coach. His hobby is his employment and he doesn't consider it work as he loves every day and gets to do the thing he most enjoys, currently living rent free in a beautiful seafront apartment the DR for at least 12 months, gets most of his food paid for by the resort that employs him plus a modest income.

So, what I am alluding to is that if DJing is your thing and if this can cover essentials, then I guess you would be able to travel the world, and I guess that having an extra £80k invested away will give a reasonable good standard of living for lifes little luxuries. But you will need to have that additional source income for a very long period and trust that ill health doesn't strike (or insure against it).

davelester414

swblue wrote: »

I'll try to add a little to this as I think the OP has confused 2 things (I think) and perhaps could have phrased it a little different.

Firstly, no one of that age, let alone my own of nearly 30 years older can live off £80k without having another form of income and I think therein lies the clue. My son is approaching 22 and has not 'worked' in the manner that most of us would recognise but lives a fantanstic life nonetheless. Since he turned 18 he has been almost continuously overseas, Africa, Mozambique, Costa Rica, Panama Nicaragua and now Dominican Republic. He has got more money now than he had at 18.

How has he done this? By 'working' as a surf coach. His hobby is his employment and he doesn't consider it work as he loves every day and gets to do the thing he most enjoys, currently living rent free in a beautiful seafront apartment the DR for at least 12 months, gets most of his food paid for by the resort that employs him plus a modest income.

So, what I am alluding to is that if DJing is your thing and if this can cover essentials, then I guess you would be able to travel the world, and I guess that having an extra £80k invested away will give a reasonable good standard of living for lifes little luxuries. But you will need to have that additional source income for a very long period and trust that ill health doesn't strike (or insure against it).

Now we're talking!

davelester414

I have no real hesitations with going back to university either....obviously need to be interested in subject....but place of study is important...oxbridge etc.

theEnd

Did the 80k come from DJing?

colsten

davelester414 wrote: »

I have no real hesitations with going back to university either....obviously need to be interested in subject....but place of study is important...oxbridge etc.

That would be one way of going through a substantial part of the £80K fast.

SeduLOUs

davelester414 wrote: »

I have no real hesitations with going back to university either....obviously need to be interested in subject....but place of study is important...oxbridge etc.

I presume you already have a solid degree? Otherwise there's no hope of them letting you into Australia...

swblue

By the way Dave, don't think for a minute about paying off your student loan. That would be the worst decision of all. You don't need to pay a penny unless your earn a certain amount (£18k or £21k depending when you took out the loan) and if you always earn less than this amount, it will be written off in due course.

davelester414

swblue wrote: »

By the way Dave, don't think for a minute about paying off your student loan. That would be the worst decision of all. You don't need to pay a penny unless your earn a certain amount (£18k or £21k depending when you took out the loan) and if you always earn less than this amount, it will be written off in due course.

The student loan is doing my head in to be honest. A real hindrance.

ViolaLass

davelester414 wrote: »

The student loan is doing my head in to be honest. A real hindrance.

A hindrance to what? No earnings, no payments, easy.