Shall We stay or Should we go now?

Spanish_Escape

My husband and I are in a very fortunate position as we met later in life and have no major money worries. We have saved hard since we meet and are lucky to have 3 houses 2 in the UK 1 we live in and the other we rent out. We have holiday home in Southern Italy which is paid for. All of our children are grown up and left home and are independent to a degree. Always room for mum and dad to help out. We both have good jobs but the rat race is really getting us down and we are seriously thinking of leaving our jobs and selling our main home and go travelling and spend more time at our holiday home. After paying off our mortgage and cashing in a few things we should have about £200k. Is this enough money to do this and see us through? Would we be able to live a nice life on the interest? we are 15 years away from receiving our company pensions so our savings need to last longer than 15 years so we always have a comfort blanket

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Upsidedown_Bear

I think you'd be better posting this on the Savings & Investments Board.

http://forums.moneysavingexpert.com/forumdisplay.php?s=&daysprune=&f=17

Spanish_Escape

Thank you I will do . First time using to learning the ropes

getmeouttahere

Is this just posted to rub our noses in it? On a debt free wannabe board to!! lol

Spanish_Escape

No I am so sorry I wasn't trying rub anyone's nose in to it it was a bad choice on my behalf where I placed my post. I will delete when I know how. Sorry again

getmeouttahere

Spanish_Escape wrote: »

No I am so sorry I wasn't trying rub anyone's nose in to it it was a bad choice on my behalf where I placed my post. I will delete when I know how. Sorry again

did you miss the 'lol' at the end of my post?

gettingtheresometime

Well I admit I wondered why,even a newbie, would post such that particular problem on this board.......made no logical sense.

[Deleted User]

Only 3 houses; my heart bleeds

[Deleted User]

Spanish_Escape wrote: »

Would we be able to live a nice life on the interest?

Live on the interest from £200k?

I doubt it.

For each 1% interest, you would get £2,000 pa gross.

Even on 5% interest (a figure you would be lucky to get, in the current financial climate), you would be getting just £10,000 pa gross.

That's £833 pm gross.

DevCoder

Hopefully they wouldn't transfer it to Euros where there is negative EONIA rates, i.e. you pay a bank to hold your money.