What would you do with £10k, £20k, £50k, £100k, £500k

capital0ne · 8 January 2018 at 7:40PM

sixpence. wrote: »

p.s I am in my twenties and voted corbyn

Understandable, I think we all go through a socialist stage in our lives, some people grow out of it, but Mr Corbyn will not solve any problems. The shift of the big issues will just move elsewhere.

Remember the 'government' always gets in regardless of who wind the election and at the moment voters are just picking the least worst candidate.

Those of us who are old enough will remember Harold Wilson's famous statement in 1967 "It does not mean that the pound here in Britain, in your pocket or purse or in your bank, has been devalued." after he devalued the pound from $2.80 to $2.40. The then Chancellor, Mr Callaghan resigned over this as a point of honour.

Then in the 70's came the winter of discontent, wage rises restricted to 3.5% by Roy Jenkins

Mr Corbyn will just go down that route so that's going to be something to look forward to isn't it?:T

KeepOnKnitting · 8 January 2018 at 9:07PM

The smaller amounts up to £50k would be saved for a house deposit. £100k would go half cash/half shares for deposit/retirement. £500k would buy a house in the city I want to live in and the rest in shares to make me about 80% of the way to financially independant.

moneyfoolish · 9 January 2018 at 1:16AM

Any of the amounts below £500,000, I'd just add to my savings most of which I hope will be split between my 4 children in the future. If it were the £500,000, I'd give each of the 4 children £100,000 each and add the other £100,000 to my own savings which would make no difference to my life at all other than taking my wife for a few more holidays than usual. However, I am 72 so I might look at things a bit differently if I was a younger man although most of the things that interest me don't cost very much money.

sixpence. · 9 January 2018 at 1:20AM

capital0ne wrote: »

Understandable, I think we all go through a socialist stage in our lives, some people grow out of it, but Mr Corbyn will not solve any problems. The shift of the big issues will just move elsewhere.

Remember the 'government' always gets in regardless of who wind the election and at the moment voters are just picking the least worst candidate.

Those of us who are old enough will remember Harold Wilson's famous statement in 1967 "It does not mean that the pound here in Britain, in your pocket or purse or in your bank, has been devalued." after he devalued the pound from $2.80 to $2.40. The then Chancellor, Mr Callaghan resigned over this as a point of honour.

Then in the 70's came the winter of discontent, wage rises restricted to 3.5% by Roy Jenkins

Mr Corbyn will just go down that route so that's going to be something to look forward to isn't it?:T

Wasn't Thatcher worse though?

AlexTheLion · 10 January 2018 at 12:34AM

500k - 1x Lamborghini Aventador, 1x Lamborghini Urus

minerva_windsong · 10 January 2018 at 10:48AM

The £10k and £20k would probably go to savings/pension/paying off the mortgage. Once you're above that, then I'd probably take what I needed to live comfortably and take a year off work to pursue my passion (on the understanding that if I wasn't making a go of it by that point I'd go back into the workforce), and put the rest towards savings/pension/mortgage. Maybe a holiday as well but it certainly wouldn't be the priority.

July15moomin · 10 January 2018 at 10:50AM

10/20 clear debt, invest remaining in children's funds.
50 invest for pension, same with 100, 200 retire and hope I get to enjoy a bit of time before leaving to the tax man and children !

Alexmerris · 10 January 2018 at 11:36AM

I do have £10k: this is an inheritance and I’m unlikely to have significantly more: I want to save it and make the most of it. I see people saying “invest”: in what way would you invest it to gain the most from it?

CatLady13 · 10 January 2018 at 11:52AM

I recently inherited the £10k, £20k, £50k, and £100k plus a bit more so I:

- paid off my mortgage and debts
- bought a new car (a sensible one and nothing like a Lamborghini!)
- have had a bit of fun splashing some cash around
- gave some to charity
- am taking a work sabbatical with a possible career change
- am chasing interest rates on savings accounts and squirrelling money away into various places
- am looking into investments and upping my pension
- have come to these forums to get a better idea about finances

Prior to this I had very little money and definitely none to save or invest so suddenly having money to burn was a bit overwhelming! It's also a bit hard to get out of the "I can afford that so I will have that" mentality that comes with sudden wealth though putting money away into different accounts rather than having a massive lump sum in my current account does help.

If I had a £500k windfall, I'd buy a new house, rent out my current house, and pursue whatever dreams I wanted to

Prism · 10 January 2018 at 12:11PM

Alexmerris wrote: »

I do have £10k: this is an inheritance and I’m unlikely to have significantly more: I want to save it and make the most of it. I see people saying “invest”: in what way would you invest it to gain the most from it?

Typically when people say invest they mean a stocks and shares ISA or their pension funds - basically the stock market.

What would you do with £10k, £20k, £50k, £100k, £500k

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