£400k cash but no home or job....?

darkidoe

I would invest in index funds generating roughly 3-4% yield / year and leave to a country where living costs are much lower and live out the rest of my life. (This might not be the most tax efficient way to do it though)

I would also do something with my time that is enjoyable that might generate some income.

Murphy_The_Cat

Bravepants wrote: »

Bye a cheap house (£80k or so) up in the Lake District, spend some time doing it up nice and comfy. Invest the rest in S&S ISA by drip feeding £20k a year. Draw down 4% a year to live on (approx. £12k a year, or £1k a month), enjoy days out walking in the lake district, playing my piano and perhaps look for a part time job.


I'm a simple soul really.

Bravepants, I live in the Lake District. Please could you let me know where this £80000 house is, as it sounds like a real steal :beer:

Peelerfart

Surely any decisions would be affected by the OP's age and obligations.

Children? wife? and is the OP happy to relocate?

singhini

i wouldnt waste time spending the £400,000 on property, i would spend the lot buying 40 million penny sweets and sell them for tuppence each

Bravepants

Murphy_The_Cat wrote: »

Bravepants, I live in the Lake District. Please could you let me know where this £80000 house is, as it sounds like a real steal :beer:

A few years ago a couple of friends of ours, from Ipswich way, quit their jobs. He was 50 at the time and she in her mid 40s. They quit their jobs and because they both loved the outdoors moved up to the Lakes. He had shares with his family in a holiday home up there, I believe that is sold now, but they moved to Cleator Moor. Bought a small terraced house for, I believe less than £80k, and they are doing it up.

Murphy_The_Cat

Bravepants wrote: »

A few years ago a couple of friends of ours, from Ipswich way, quit their jobs. He was 50 at the time and she in her mid 40s. They quit their jobs and because they both loved the outdoors moved up to the Lakes. He had shares with his family in a holiday home up there, I believe that is sold now, but they moved to Cleator Moor. Bought a small terraced house for, I believe less than £80k, and they are doing it up.

That makes sense - with £80000 you still can buy a house in towns like Cleator Moor , Workington, Whitehaven, Barrow.

What threw me was when you said Lake District.

Glen_Clark

worried_jim wrote: »

Buy a 2 bed apartment in Turkey for £60k, put the rest in a Turkish savings account paying 10% interest and live out my days in the Sun struggling to spend the interest.

Just googled the rate of inflation in Turkey and got 12% (and presumably you would ave tax to pay on the 10% interest as well)
So in real terms your capital is losing at least 2%.

Bravepants

Murphy_The_Cat wrote: »

That makes sense - with £80000 you still can buy a house in towns like Cleator Moor , Workington, Whitehaven, Barrow.

What threw me was when you said Lake District.

Yes, sorry I should have said "edge of Lake District". :rotfl:


It's a lovely part of the world!

Murphy_The_Cat

Bravepants wrote: »

Yes, sorry I should have said "edge of Lake District". :rotfl:

You're not an estate agent are you perchance

& yes, it is a lovely part of the world to live in and bring up your family.

Bravepants

Murphy_The_Cat wrote: »

You're not an estate agent are you perchance

& yes, it is a lovely part of the world to live in and bring up your family.

No, I'm not an estate agent, I did try to apply to be one but the interviewer said that I'm not evil enough!