Could you retire on £1m

[BWTAC]

I could easily retyre my car on £1m.

If i had a million, I'd fritter it away on wine, women and amateur dramatics.

 

[metalblue]

I could easily retyre my car on £1m.

If i had a million, I'd fritter it away on wine, women and amateur dramatics.

I hope that's code for porn otherwise that's both wasteful and a little gay<br /><br />-- Fri Dec 02, 2011 1:20 pm --<br /><br />

It's possible, a worker on average pay will probably take home about £1m in their working lives so with a few risk(ish) free investments you could get ahead of the game.

me? i'd blow £900k on tarts and cars in less than a year, the rest i would waste.

you fat bastard that is a lot of tarts.

i love eating tart

 

[stimo]

moving on from the $165m lotto win thread, could you retire off £1m?

I think i quite eaisily could and i'm only in my 20's

what about anyone else?

i reckon i could, but apparently to be classed as a millionaire (without having to work again) you've gotta have £4million now because of the current financial climate

 

[Anonymous]

At 54 years of age , a million pounds would do nicely ....

and yes i'd retire!

 

[Always Ali]

Put it all on Black, close your eyes and pray (not that there is a God to pray to of course, but you know what I mean)! 2 Million will see ya right!

 

[didactic]

You're figures are wrong "bro".

£1000 000 / 40 = £25 000

And thats not even taking into consideration inflation, random cash withdrawals and or unexpected expenses.

 

[stimo]

I could easily retyre my car on £1m.

If i had a million, I'd fritter it away on wine, women and amateur dramatics.

collosal

 

[denislawsbackheel]

Yes you could, if you are happy to rent and live off £50k per year tax free (Equivalent to earning arounf £80-90k).

You would just invest it into a Income Distribution Bond (simple Capital Investment Bond with option to take yearly, bi-annual, quaterly or monthly distributions), you are allowed to take 5% per year (monthly if you wish) tax "free" as it is deemed a return of capital. Historical returns see 7-9% pa, so your capital is not eroded, over the long term and the money would easily outlast you so long as you stick to 5% pa.

-- Fri Dec 02, 2011 11:42 am --

Course you could and you know it.

No bro the only reason you are able to "live" on what you earn is because you never got it all in one lump sum.

£1000000 is easy to spend you would buy family gifts, spend on things you would never have bought before. Its not suprising that lottery winners spend it all because they get it all in one go

Now if its a million over 30 years at 30 odd thousand a year then sure I can live on it but not retire on it and id be in my late 50s when it finished so id keep working.

But they don't though. Most look after it very wisely after taking advice. Only twats spend it all and have none left.

-- Fri Dec 02, 2011 11:43 am --

For it to last you and your family would have to live on about £25 000 a year for the next 40 years.

You're figures are wrong "bro".

-- Fri Dec 02, 2011 11:44 am --

Not a dream
a delusion

Invested a million would bring in £30K before tax as already said.
Take the £30K as income and your million is deteriorating in value at (currently) over 5% a year.

What? Absolute and utter bollocks. Complete horse shit mate.

oh sorry I didn't realise his fucking masters voice was on here today
Fuck off twat

 

[Tuearts right boot]

moving on from the $165m lotto win thread, could you retire off £1m?

I think i quite eaisily could and i'm only in my 20's

what about anyone else?

i reckon i could, but apparently to be classed as a millionaire (without having to work again) you've gotta have £4million now because of the current financial climate

There was a survey done by Camelot about 5 years ago.They reckoned £8m was the threshold for a millionaire lifestyle and the means to maintain said lifestyle.
Roughly broken down.....
2m on houses
1/2 m on cars
1m on financial and charitable gifts
1/2m Holidays and presents etc etc
4m with interest to maintain the above

 

[The Scarlet Pimpernel]

Put it all on Black, close your eyes and pray (not that there is a God to pray to of course, but you know what I mean)! 2 Million will see ya right!

Yes there is......he's a city fan for fucks sake, nobody knows anything these days!!