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  • FIRST POST
    • capital0ne
    • By capital0ne 7th Jan 18, 3:50 PM
    • 524Posts
    • 254Thanks
    capital0ne
    What would you do with 10k, 20k, 50k, 100k, 500k
    • #1
    • 7th Jan 18, 3:50 PM
    What would you do with 10k, 20k, 50k, 100k, 500k 7th Jan 18 at 3:50 PM
    Question I asked my colleagues at work.

    What would you do with 10k, 20k, 50k, 100k, 500k
    Answers I got were:
    10k - holiday or new car
    20k - holiday, new car and maybe do something to their home
    50k - big family holiday. new cars, help kids
    None could make anything different wuth very large sums of money, but one striking theme was no one mentioned investing or contributing into their pension?
    They dis say saving was waste of time because of low interest rates, but no one seemed to understand the affect of 3% inflation.
    Quite an eye opener, but to be honest to me it wasn't really unexpected.
Page 1
    • jamei305
    • By jamei305 7th Jan 18, 3:55 PM
    • 338 Posts
    • 394 Thanks
    jamei305
    • #2
    • 7th Jan 18, 3:55 PM
    • #2
    • 7th Jan 18, 3:55 PM
    From 10 to 100K I'd invest it. With the 500k we might move house though.
    • TBC15
    • By TBC15 7th Jan 18, 4:17 PM
    • 495 Posts
    • 251 Thanks
    TBC15
    • #3
    • 7th Jan 18, 4:17 PM
    • #3
    • 7th Jan 18, 4:17 PM
    If we are talking returns from investments.

    10k, 20k, 50k, reinvest

    100k, 500k returns time to think about getting retired followed by some top of the range stuff without risking the investments.
    • economic
    • By economic 7th Jan 18, 4:23 PM
    • 2,940 Posts
    • 1,586 Thanks
    economic
    • #4
    • 7th Jan 18, 4:23 PM
    • #4
    • 7th Jan 18, 4:23 PM
    I already have those sums of money.

    If i had these sums of money in addition to what i have now, i would invest it all.
    • TheShape
    • By TheShape 7th Jan 18, 4:27 PM
    • 1,293 Posts
    • 1,103 Thanks
    TheShape
    • #5
    • 7th Jan 18, 4:27 PM
    • #5
    • 7th Jan 18, 4:27 PM
    10K - Holiday
    20K - Holiday
    50K - Big Family Holiday

    Can't have a BIG holiday for 10k or 20k? No wonder some Lottery winners burn through their windfalls so quickly.
    • TBC15
    • By TBC15 7th Jan 18, 4:28 PM
    • 495 Posts
    • 251 Thanks
    TBC15
    • #6
    • 7th Jan 18, 4:28 PM
    • #6
    • 7th Jan 18, 4:28 PM
    I already have those sums of money.

    If i had these sums of money in addition to what i have now, i would invest it all.
    Originally posted by economic
    Are you establishing or part of a dynasty? ( serious honest)
    • TheShape
    • By TheShape 7th Jan 18, 4:38 PM
    • 1,293 Posts
    • 1,103 Thanks
    TheShape
    • #7
    • 7th Jan 18, 4:38 PM
    • #7
    • 7th Jan 18, 4:38 PM
    I already have those sums of money.

    If i had these sums of money in addition to what i have now, i would invest it all.
    Originally posted by economic
    I wonder whether the people who (pre-windfall) had the least, would spend the most and those that were wealthier would be more inclined to invest?
    • Mrs Z
    • By Mrs Z 7th Jan 18, 4:54 PM
    • 883 Posts
    • 875 Thanks
    Mrs Z
    • #8
    • 7th Jan 18, 4:54 PM
    • #8
    • 7th Jan 18, 4:54 PM
    With 10k and 20k Id invest. With a spare 50k, id Keep back 10k for a jolly good holiday and invest the rest. same with 100k. With an extra 500k id Hand in my resignation, and take a holiday to ponder my next move.
    • economic
    • By economic 7th Jan 18, 4:54 PM
    • 2,940 Posts
    • 1,586 Thanks
    economic
    • #9
    • 7th Jan 18, 4:54 PM
    • #9
    • 7th Jan 18, 4:54 PM
    Are you establishing or part of a dynasty? ( serious honest)
    Originally posted by TBC15
    What do you mean?
    • economic
    • By economic 7th Jan 18, 4:56 PM
    • 2,940 Posts
    • 1,586 Thanks
    economic
    I wonder whether the people who (pre-windfall) had the least, would spend the most and those that were wealthier would be more inclined to invest?
    Originally posted by TheShape
    This is true. The wealthier you are, the smaller the % of your wealth you will spend.
    • economic
    • By economic 7th Jan 18, 4:57 PM
    • 2,940 Posts
    • 1,586 Thanks
    economic
    With 10k and 20k Id invest. With a spare 50k, id Keep back 10k for a jolly good holiday and invest the rest. same with 100k. With an extra 500k id Hand in my resignation, and take a holiday to ponder my next move.
    Originally posted by Mrs Z
    Out of interest what kind of holiday would the 10k get you?
    • TBC15
    • By TBC15 7th Jan 18, 5:19 PM
    • 495 Posts
    • 251 Thanks
    TBC15
    What do you mean?
    Originally posted by economic
    Its unusual to come across anyone who understands the value of money on here.
    • EJS_Superted
    • By EJS_Superted 7th Jan 18, 5:44 PM
    • 64 Posts
    • 39 Thanks
    EJS_Superted
    10, 20, 50 - I would invest some and overpay mortgage with some.

    For 100k I would settle my mortgage and invest the small remainder.

    500k...hmmm...settle mortgage and start my own business.
    • Filo25
    • By Filo25 7th Jan 18, 6:17 PM
    • 1,506 Posts
    • 2,198 Thanks
    Filo25
    Interesting question!

    10k max out my pension annual allowance and use some of the carryforward

    20k as above plus money into my wife's pension

    50k As above plus maximise ISA for the year for me and wife

    100k as above plus the same for next tax year and some mortgage overpayment.

    500k as above and clear the mortgage, plus continue to invest in a tax efficient way going forwards.

    The last 2 would have some impact on expected retirement date, but would keep on working for now as we earn good money and don't dislike our jobs.

    I've had a lot of lovely holidays over the last 5 years don't need to throw additional cash at another one!
    • Eco Miser
    • By Eco Miser 7th Jan 18, 6:33 PM
    • 3,444 Posts
    • 3,234 Thanks
    Eco Miser
    I'm already retired.
    Only the half million would make a significant difference.
    That should be enough to get buses running round the North Yorks Moors every day over summer, instead of the current Sunday only service.
    Eco Miser
    Saving money for well over half a century
    • Zoea
    • By Zoea 7th Jan 18, 7:07 PM
    • 30 Posts
    • 7 Thanks
    Zoea
    I would invest any of those amounts. The higher two I would consider a buy to let or a buy of a property as the returns are generally pretty good and there's some security there.
    • jimjames
    • By jimjames 7th Jan 18, 7:55 PM
    • 12,652 Posts
    • 11,317 Thanks
    jimjames
    I wonder whether the people who (pre-windfall) had the least, would spend the most and those that were wealthier would be more inclined to invest?
    Originally posted by TheShape
    I think you're right. If you could go out and buy a new car now because you have the money I'm not sure a windfall would entice you to do it either
    Remember the saying: if it looks too good to be true it almost certainly is.
    • justme111
    • By justme111 7th Jan 18, 9:40 PM
    • 3,002 Posts
    • 2,900 Thanks
    justme111
    1O or 2O k - invest
    5O k - one third invest , one third spend ( private health , travel , car, beauty, shoes, new shed etc, one third work less.
    1OO - invest 2/3ds , work less and buy the same stuff, would pay for my partner to not work and spend time teaching my child
    5OO - I would have worked far less(2 days, oaid my partner not to work( ,invested , lived on dividends and explored what else would I rather do.
    Thank you for the question, it was interesting to analyse what I think I would have done and discuss it with my partner in detail. It was enlightening in a few aspects . Re relationship between what people have and how they spend the imaginary windfall is that whatever amounts people are operating at present does not change much in their plans - they spend as before and just add it to investments( but when the amount goes beyond habitual that's when spending and lifestyle changes happen. That is why gor people who have less money it takes less to vhange spending-because the windfal represents higher percentage change for them.
    • No_6
    • By No_6 7th Jan 18, 10:01 PM
    • 640 Posts
    • 129 Thanks
    No_6
    any amount, I would give to my kids,
    don't do lotto's, etc , just PB's now.

    retired on a good one
    • kidmugsy
    • By kidmugsy 7th Jan 18, 10:06 PM
    • 10,870 Posts
    • 7,433 Thanks
    kidmugsy
    The suggestion I saw on the internet was (i) buy an island, (ii) buy a midget submarine so that you can get on and off the island whatever the weather. Would half a mill do?
    Free the dunston one next time too.
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