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Just for Fun - If you won 1 Million
Comments
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Ignoring what I and my OH already have:
300k on a beautiful house in the countryside with a huge amount of land (can easily get a mansion here in Northern Ireland for that price).
400k on three detracted properties with a hopeful potential rent of £750 each
250k In a index linked tracker perhaps paying directly for vanguard funds or gradually funneling it into S&S ISA's.
50k in high interest current accounts which can be used on anything.0 -
I could easily be wrong but I understood that the fluffer job role has been rendered largely obsolete thanks to technological advances in the form of little blue pills.
In general you are correct, but the book covered the traditional industry.
Plus some cant take the little blue piils.0 -
Wow 1 Million, I'd..
Buy a house... Something Smallish with low running costs so if I was poor I can still keep the roof over my head.
Go on a holiday to the Maldives and Zanizbar, Just a small treat
Put 100,000.00 into my pension pot if this is possible or maximum amount possible, not sure on tax implications etc
Buy a new to me car, again with low running costs so if I was poor I can still kept the car.
Rest I'd stick under the mattress as they say or into bank accountsAspiring to be financially independent.... from my parents!0 -
Put 100,000.00 into my pension pot if this is possible or maximum amount possible, not sure on tax implications etc
You can put up to your entire taxable income or £40k, whichever is smaller, into a pension PA. However, it's taxable on the way out, so not always worth doing unless you suffer high taxation now.
Probably better to look at other tax efficient income streams such as VCTs etc.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
Plus, you c an use the last 3 years unused allowances as well.0
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Plus, you c an use the last 3 years unused allowances as well.
Not really. If your taxable earning in this tax year exceed the AA, then yes, but most "winnings" of the type we're considering aren't taxable, so no way Jose.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
Buy ETFs and live off the dividends.
Save 12K in 2020 # 38 £0/£20,0000
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