One in 65 UK adults now a millionaire

Graham_Devon

CLAPTON wrote: »

she would be no better off in Devon or probably poorer

How do you work that out?

She could buy a place for 200k and have around 700k in the bank.

If she lasts until 90, without earning a penny income from the 700k, she could take 35k a year from the 700k pot. Almost triple what she was living on a year in London.

If she took 20k a year and earnt not a penny interest etc on the 700k, it would last her until she was 114.

Financially, she would be be better off. However, money isn't everything to everyone. That was her point. Her life, her friends, he relatives were more important to her than money.

CLAPTON

Graham_Devon wrote: »

How do you work that out?

She could buy a place for 200k and have around 700k in the bank.

If she lasts until 90, without earning a penny income from the 700k, she could take 35k a year from the 700k pot. Almost triple what she was living on a year in London.

If she took 20k a year and earnt not a penny interest etc on the 700k, it would last her until she was 114.

Financially, she would be be better off. However, money isn't everything to everyone. That was her point. Her life, her friends, he relatives were more important to her than money.

I was comparing some-one in London living in whatever house she bought 40 years ago, with some-one in Devon living in a house she bought 40 years ago.

Graham_Devon

CLAPTON wrote: »

I was comparing some-one in London living in whatever house she bought 40 years ago, with some-one in Devon living in a house she bought 40 years ago.

Oh OK. Well that was never the point of my post. Has nothing to do with the thread either?

The whole point of my post is people were wondering why she doesn't sell up and move elsewhere, therefore leaving her with loads of money.

PasturesNew

The trouble is ....they mostly all know each other.

You and I aren't getting richer, nor will we ever join their "Club". But they do like to report, through their media links, how well they're doing to "cheer up the little people, to make them work harder"

PasturesNew

Graham_Devon wrote: »

Her place, it seems, would have quickly been snapped up by developers who were desperate to split it into 4 tiny flats.

I might've look to cut a deal on one of those flats + a wedge of cash, then relocate for the summer somewhere nice until my flat was built

wotsthat

Graham_Devon wrote: »

Financially, she would be be better off. However, money isn't everything to everyone. That was her point. Her life, her friends, he relatives were more important to her than money.

Must be nice to have the option of living in a £1m house whilst being supported by the taxpayer

ruggedtoast

Again the boomers are quids in through house price inflation. They could show a direct correlation between the indebtedness of the young and the housing crisis wealth of the boomers.

CLAPTON

ruggedtoast wrote: »

Again the boomers are quids in through house price inflation. They could show a direct correlation between the indebtedness of the young and the housing crisis wealth of the boomers.

is that because no women ever went out to work in the 60s, 70s, 80's and 90's?

could you show the figures for the indebted of the young and the house wealth of the boomers?

missyrichards

Does this mean net worth £1m or just the value of your house and cars etc...?:eek:

Graham_Devon

wotsthat wrote: »

Must be nice to have the option of living in a £1m house whilst being supported by the taxpayer

What are you going on about?