If you were a millionaire

[Guest]

Go Vegas for 2 weeks with 5 mates.

Then my mum can spend whatever is left after I die out there.

 

[ramboacdc]

1) Buy a 20ft container full of fireworks and set it on fire to see what would happen.

2) Get a Bull Dozer to make a massive word out of Soil so the Ordnance survey had to include it on the map with contour lines.

3) Buy a transit van, fit it with motorway crash barriers on all sides, fit a 6 point harness and racing seat, and drive round for a day, crashing into people that pull out, cut me up, push middle lane hoggers in to the Left hand lane etc.

1) it would explode......in a rather large way

2) what would the word be?

3) use hovercraft bottoms instead. they will bounce more..more damage. 

[DennisNedry]

I think that'd be the way to go, initially but I still reckon £1m isn't going to seem too much in 25 years.

 

What young man on here doesn't expect to earn (with eventual partner) over £1m in total over the next 20 years?

 

£1,000,000 / 20 years = £50,000

 

You expect the majority of couples to be earning £50k after tax? Okay...

[Guest]

£1,000,000 / 20 years = £50,000

 

You expect the majority of couples to be earning £50k after tax? Okay...

 

I didn't say the majority.

 

£1m over 25 years is 40k. I'd expect a right winger like you to be earning that on his own and certainly alongside your right wing husband/wife.

 

Last year I was in England - about 30 years ago I earned over £100K without including my wife's earnings.

 

Pull your finger out slacker!

[ozleicester]

I would follow the F1 around the world.

 

Id follow B1 around the world 

[ScouseFox]

And your goal when you are in your 20's is to earn what?

 

To meet Babylon's total you and your partner should aim for 8K each.

 

I can't believe that you haven't got an intention to be above 25k a year soon.

 

i enjoy my job so dont really mind about being rich or not. ive got enough money to live in my flat and to drive my car and buy things here and there and go out when i want. until i want to have a kid i don't need any more money. 

 

whether i wanted it or not though i doubt id be earning 50 grand a year for quite a while, if ever. 

[Webbo]

I'd hand in my notice.

I thought you were a teacher for the love of educating children?

[Frank to be]

General rule of thumb when withdrawing from a lump sum and maintaining the capital is that you can take about 4% per year. This assumes the lump sum is invested well and returns about 7%, leaving 3% to cover inflation and tax. So you could actually take 4% per year, £40k, forever, and this would increase with inflation. I could live pretty well on £40k per year. Somewhere like Goa, Bali or Ko Pha Ngan would do very nicely.

[DennisNedry]

I didn't say the majority.

 

£1m over 25 years is 40k. I'd expect a right winger like you to be earning that on his own and certainly alongside your right wing husband/wife.

 

Last year I was in England - about 30 years ago I earned over £100K without including my wife's earnings.

 

Pull your finger out slacker!

 

Fair play for being in the top 1%, I'm curious as to what you do/did and what the tax rate was here 30 years ago.

 

Me and my girlfriend would be very happy on 40k combined before tax let alone after!

[Samilktray]

This thread was a lot more interesting when people were saying what they'd be spunking there imaginary millions on

Now it's all a bit depressing with all these figures

[Guest Mee-9]

Go on a huge roadtrip around America. 

 

Or put it all on red. 

[cambridgefox]

Agree with FIF.1 mill isn't that much,not going into detail but me and the Mrs are both higher rate tax payers ,not boasting intentionally this would mean us taking a massive pay cut,I wouldn't say we have a glamorous lifestyle but are comfortable,this sounds really bad but I couldn't live on that interest.

This sounds really bad I know but we are both in our mid 40s.Expect many more on here earn more and can see my point.

[Guest]

Fair play for being in the top 1%, I'm curious as to what you do/did and what the tax rate was here 30 years ago.

 

Me and my girlfriend would be very happy on 40k combined before tax let alone after!

 

I'm sorry that I was better at business than you ever expect to be - don't see why that should be the case though.

 

Don't worry about the tax rate 30 years ago - the interest paid out by banks was around 10%. You worked hard, you earned and then your money earned too, whilst it was being loaned to people to buy houses.

 

Ask your Dad.

This thread was a lot more interesting when people were saying what they'd be spunking there imaginary millions on

Now it's all a bit depressing with all these figures

 

That's how it should be. Enough with silly dreams, back to reality.

[Guest]

Agree with FIF.1 mill isn't that much,not going into detail but me and the Mrs are both higher rate tax payers ,not boasting intentionally this would mean us taking a massive pay cut,I wouldn't say we have a glamorous lifestyle but are comfortable,this sounds really bad but I couldn't live on that interest.

This sounds really bad I know but we are both in our mid 40s.Expect many more on here earn more and can see my point.

 

It is amazing but true that 50K is really just getting by after all the associated expenses and fixed costs. I guess maybe it'll be nice for the kids/grandkids when we kick it. 

 

Perhaps their are advantages to not being homeowners.

[The Doctor]

Bank and invest a reasonable chunk of it, other than that, spoil my missus. 

[ScouseFox]

i dont think i know many people at all who earn 50k a year. im only at the start of "adult life" but from what i know, to claim you can't live off less than fifty grand a year makes you either a) ridiculously stupid, b) an idiot or c) not in the real world 

[Soar Fox]

Bank and invest a reasonable chunk of it, other than that, spoil my missus.

Rock n roll

[Guest]

i dont think i know many people at all who earn 50k a year. im only at the start of "adult life" but from what i know, to claim you can't live off less than fifty grand a year makes you either a) ridiculously stupid, b) an idiot or c) not in the real world 

 

d) damned well richer than you e) worth a lot more than you.

 

When you're earning 50K and you are living a real adult life (because I promise you that you aren't at the moment) then get back to me or the person who said it (who I'm sure meant live in the way he is now, with the expenses he has) and let us know he was right.

 

Think of the positives you do know people who earn 50K a year.

Rock n roll

 

That's perhaps what he meant by "spoil the missus"

[Guest MattP]

FIF is clearly coming across as a right **** in this thread but I do think he's right in a way, for a joint income 50k isn't that much at all anymore.

I doubt many families in the suburbs would be bringing in less than that in this day and age.

[ScouseFox]

d) damned well richer than you e) worth a lot more than you.

 

When you're earning 50K and you are living a real adult life (because I promise you that you aren't at the moment) then get back to me or the person who said it (who I'm sure meant live in the way he is now, with the expenses he has) and let us know he was right.

 

Think of the positives you do know people who earn 50K a year.

 

That's perhaps what he meant by "spoil the missus"

 

yeah we get it you're not only an idiot but an obnoxious bellend too, well done on earning money.

 

my point was that you seem to be suggesting that nobody in the world could survive on 50k a year? i know a hell of a lot of people who do. like i said, you aren't in the real world if you think you need to be earning six figures a year "to get by". 

 

i'd rather never earn and never know anyone who earns anything like that money if there's even a hint any of them would be like you. 

[The Doctor]

yeah we get it you're not only an idiot but an obnoxious bellend too, well done on earning money.

 

my point was that you seem to be suggesting that nobody in the world could survive on 50k a year? i know a hell of a lot of people who do. like i said, you aren't in the real world if you think you need to be earning six figures a year "to get by". 

 

i'd rather never earn and never know anyone who earns anything like that money if there's even a hint any of them would be like you. 

 

 - harsh, but completely fair.

 

FIF is being a right prat here, £50k post tax for a couple is more than comfortable living.

[Carl the Llama]

However much you earn you can always spend enough of it that it doesn't feel like much, all that shows is you've developed more expensive tastes to match your income, that's perfectly understandable.  

 

Now obviously you couldn't sustain the life of a millionaire on £50k a year, that's basic maths, but to imply you couldn't get by on £50k, come on, don't be silly.

[cambridgefox]

i dont think i know many people at all who earn 50k a year. im only at the start of "adult life" but from what i know, to claim you can't live off less than fifty grand a year makes you either a) ridiculously stupid, b) an idiot or c) not in the real world

Think you need to put C down for yourself Scouse.£3333 PM mortgage £650

food for the family £450

Bills £150( probably underestimated)/

Fuel and car insurance £400

Thats before pensions,life insurance £400

holidays( family of 4 you are talking 3600)£300 Ski £400

Then there is life cover,Sky,community charge£300

School trips etc£50

Leaves £200 for the millionaire lifestyle!

[The Doctor]

Rock n roll

 

Eh, I've not got expensive tastes; I'd much rather spend it on me and her enjoying ourselves than on flash stuff I'm not overly bothered about. 

[Guest]

FIF is clearly coming across as a right **** in this thread but I do think he's right in a way, for a joint income 50k isn't that much at all anymore.

I doubt many families in the suburbs would be bringing in less than that in this day and age.

 

I do my best but I'm glad you're backing up my assertion.