Awake at 04:00 (Scum dole *****)

I'll be recieving a large some of money too in the next few months following my fathers unfortunate death last year from cancer:(

It sounds to me like you're not ready to recieve that amount of money. I'll be using mine as a large deposit on a house and will be investing it for 2-3 years until I need to use it as it'll take this long to find a steady job, save a bit up and find somewhere.

If you can't be trusted not to ***** it all on stupid **** put it into a trust until you are older and more responsible. You can make your money work for you if you invest it wisely.

Whilst the death of your Aunt is unfortunate I don't think she'd want you to waste her estate away.

For me personally I couldn't do 'nothing' for the rest of mylife. I'd need to work or do something and get some sense of fufilment out of my life. Whether it be volunteering or helping those less fortunate. I get bored enough as it is within a couple of hours if I don't have something to do.

I'm only 20 too, so young like yourself. When I discovered just how much had been left to me I had a short phase of wanting to spend it on this and that which passed luckily before I've recieved anything. During my teenage years I brought every gadget I could ever need which is good in that aspect.

I'll be replacing my L-reg banger that I've driven since I was 17 with something nicer around £6k of which I saved up half for last summer.

Just be wise with your money or you'll regret it :)
 
Last edited:
just buy a decent house or 2, get a property manager letting agent and rent them out as soon as you are 21.

Its not really that much money tbh
 
600K well invested and a part time job = live very comfortably for the rest of your life, without too many worries.

Bet you spend it all within a year and end up regretting it the rest of your life tho.
 
Here's my suggestion. Get a job and use the money to top up your salary - pay yourself a 50% bonus (tax-free, since it's from your savings!) each year from the pot. That way you get a big boost in your quality of life, you're motivated to work for the money rather than just squander it and it's sustainable as long as you can earn interest at a higher rate than your income grows. Here's an example:

You start on 22k, your earnings increase by 3% and you earn 4% interest.

End Year 1: 22k salary, 11k bonus, 12.6k extra in the bank (612.6k total)
End Year 10: 28.7k salary, 14.4k bonus, 732.2k total in the bank
End Year 20: 38.6k salary, 19.3k bonus, 874.2k total in the bank
End Year 30: 51.8k salary, 25.9k bonus, 1012.4k total in the bank

Then you can retire at fifty with a million in your bank account :)
 
TipTop said:
Fun fun fun.

I'm happy.

Anyone angry at me for having a life free from work?

My auntie died last year (I loved her lots) and I'm living of the cash from her will. Should I be out looking for a job or just kicking back and smoking some weed like she did.

I don't have enough money to last me for the rest of my life. I'm getting the full amount when I'm 21 but just now I'm on an allowance of £200 per week.

Should I learn a trade or just wait for the payout (not enough to last my life at my rate of spending) or try to manage my money like my aunt would have wanted me to?

I will recieve 600,000 when I'm 21
Click to expand...

If your not careful guess what....

A winner's tale - women, lager and cocaine on a plate
Michael Carroll took partying to a new level when he won £9.7m in 2002.

After his win, the 19-year-old bin man, his then girlfriend Sandra and their baby, Brooke, moved into The Grange, a mansion in Swaffham, Norfolk. They were joined by several of Carroll's friends, who shared his appreciation for strong lager. Within six months, Sandra and Brooke had left, precipitating drug-fuelled parties and demolition derby races on his land.

Carroll, dubbed the "Lotto Lout", described his life of excess in his autobiography Careful What You Wish For. "Almost every night and most afternoons we had the wildest parties. It was full of my mates, women, drink and drugs. We would act like Roman generals. We had sword fights with real swords and drank ourselves into a stupor. The girls would be bed-hopping round the house. We would treat them like servants and they loved it. They served us cocaine on silver platters."

At the time of his win, he was wearing an electronic tag for being drunk and disorderly. He was jailed for five months in 2004 after failing to comply with a drug treatment order.

In 2006, he was sentenced to nine months after a rampage with a baseball bat at a Christian music festival.

He has reportedly blown most of his fortune, and says that, while he regrets the drugs, "I can't say I regret the women".
Click to expand...
 
Arjun806 said:
The phrase money can't buy happiness was clearly invented before MDMA :p
Click to expand...

thing is you basically blow your load as far as happiness is concerned with that stuff.... and you'll never fully get it all back - for a brief moment of shed loads of happiness all at once you'll screw with your serotonin neurons in your brain which will never fully recover and you'll have to live the rest of your life in the realisation that you would actually be slightly happier right now if you'd never touched the stuff...

basically each time you take it it will do some damage and you'll never be quite as 'happy' in your every day life as you were before you took it - take it regularly enough and you'll start suffering from depression, memory loss etc...

Don't do drugs kids....
 
Hamzter said:
At the end of the day £600,000 isn't THAT much, roughly half what most people will earn in a lifetime. You couldn't even really live off the interest on that, say you put it into a 4.5% account (minus 2% inflation), you'd only have £15,000 a year to live off! I'll keep my job ta :)
Click to expand...

^^^

this tbh... 600k is not a lot and even at average salary most people will earn more over their life time - unless you want to be pushing trolleys round tesco carpark when you're middle aged I reckon you should be seriously looking at your options now. A lot could happen in 10 years - who's to say you won't get married to some chick and then end up giving her a big chunk in a divorce settlement.

I'm guessing by the OP that you're not looking at uni or higher education etc..

I'd say go buy a house for yourself - that in itself should provide you with some security in case everything else goes wrong - no mortgage, rent to worry about. Then go and learn a trade - work for someone else for a few years then use a portion of your inheritance to set up your own business.

Go be a plumber or open your own restaurant or bar etc... you're still young so can go work for someone else for a bit and learn all you can about the business you're interested in and not having to worry about bank overdrafts, loans from family is probably going to help a great deal when starting out as self employed.

Most importantly because you've bought a house it doesn't matter as much if it all goes wrong - you've still got a roof over your head, didn't get into debt setting up the business and have acquired a trade along the way so are still employable at a decent rate. If it goes well you could well end up earning many times more than 600k over your lifetime.
 
Stringy said:
Buy at least 2 houses and rent out the ones you don't live in. No mortgages to worry about so with any luck the rent from the other houses will easily cover your cost of living.
Click to expand...

I would like to do this. :)

Could I get custody of my little sister because she is with a babysitter longer than my parents. They are more interested in their deli and restaurant than me or her.

I love my little sis much more than I love my idiot parents and when I get my money I could look after her really well.

Wendy will get 200k when she turns 18 so that is great, but over 10 years away. My aunt could see what was happening and she knew my parents didn't really care for us enough.
 
You lucky, lucky barsteward.:p

What I would do is set up some system with a bank or other reliable institution, whereby I have a 100k, and after spending that hundred I get the 500k.

I'd go mad with a hundred k, spend it on rubbish, see how long it lasts, go mad, on holidays to zanzibar, a ton of chocolate, a ton of drugs and booze(not really, drugs and booze are bad mkay). Just purposefully waste it on all the consumerist things I wanted, buy a new phone a week then throw it away.

If at the end of it I'm still alive, I may feel more inclined to look for more, long term useful purposes for the rest of the money. I may not, I may blow the rest away and my life down the tube, but at this point it would be a decision and I would be happy with it.

You've gotta have fun, theres room for both.
 
WantoN said:
Yeah I suppose you're right :) But it depends on your circumstances. I'm not super rich by any stretch, it to me 600k would buy you a nice home and an awesome car. That recent lotto jackpot of 73mil or whatever, now THAT's life changing.

Ant :cool:
Click to expand...

I think i would pass out if someone told me that im having that much :eek:.
the most i have ever held is about 300£ and that seems a lot to me...
 
What I mean is that if he was on a £200 a week trust allowance, why would he claim to be a "Scum dole ****", as he would not be eligible to claim dole, it doesn't make sense.
 
You must log in or register to reply here.
Back
Top Bottom