a bit of a fantasy - what would you do if you had a £100000 windfall?

boglehead

Depending on your age and current financial situation, and how leveraged you are on real estate.

It would range from put it all in pension tax free if your tax rate is 40%> and your annual income justifies it.

Or it could look like a buying a rental property if you live in a area that offers decent yields (5% +) and if you don't already have a mortgage

Or it could look like paying your mortgage off - if you current rate is above 4%

Or it could it could be invest it in S&S ISA for you and your partner - that's £30k and invest it for the long term (depending on your age) in a low cost passive stock tracker (Vanguard) - and keep the rest in cash to re-invest £30k on April 7th next year

Or a combination of the above.

Just depends on your situation, and appetite for locking those funds in for the long term...

eskbanker

Malthusian wrote: »

I would spend half on booze, fast cars and loose women. The rest I would squander.

[/ObGeorgeBest]

That was from back in the day when £50K would buy multiple fast cars! (I have no idea of the relative costs of loose women then or now, honest....)

ChesterDog

This reminds me of a question my brother asked me a while ago regarding what we would each do if we suddenly received £1m. He had his already spent when he asked me the question - boats, holidays, cars, watches, house...

I know you are interested in people's own perspectives with regard to their own situation and viewpoint, so here is mine.

Financial independence is something I value hugely and managed to achieve (in a manner it would be hard - and probably unwise - for most people to replicate) at 43, a decade ago. Having achieved it, I then saw it take a big, big knock in the financial crisis. This made me very determined to get it back!

Now that I have it back, and with a good, safe cushion underneath it (not achieved by being great at stockpicking, but rather by learning the lesson very quickly that I was not), if I were to come by an unexpected £100k, I would give it away in chunks of anything from £1k to £10k, to people who need it far more than I do.

Mrs_Z

Hmmm.... I think I would split it 3 ways....first £20k 'fun money' - to be spent on one or two luxury holidays (experiences) (actually we can probably get 4 good holidays out of that sum!!!), then £50k off the mortgage, then I'd put in £30k towards OH's start up business.

Towser

Split it between car, holiday, house, pension.

Pinkle

What a nice thought. Perhaps a luxury cruise round the Caribbean. It would be nice to get away from this cold wet weather.

hoc

Buy a flat, stop paying rent.

chuckley

I'd invest in property in Spain.

justme111

If one works cruise may be difficult as it requires long holiday at short notice and one may come back to no job . If one has his/her own business than the same applies.
Chesterdog , very nice thought theoretically. In practice that could be difficult I afraid. You could start questioning yourself whether your help coyld be counterproductive and people would have to have no awareness that you could help otherwise they would start seeing you differently and so on

racing_blue

Kids uni fund- one hundred thousand less pounds to find later.