How much money would change your life?

Caporegime
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Pretty much sums up my thoughts. I’d like to own/run a business and have a house with lots of land so these sums of money would sort me out.

It baffles me the amount of people who think running a business is all gravy. It's nothing but stress and the majority of them fail.

Plough the money into flats near a well respected university in a posh area and just hand them to an agent to manage on your behalf.

You would otherwise odds on be throwing £3 million away.
 
Caporegime
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21 Jun 2006
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£250k to clear mortgage but not much else would change.
£1m for me to give up work but I think I would get bored quite quickly.
£5m minimum for me and missus to give up work and not worry about cash.
£50m if we help our families.

£5m to both give up work?

£5m could easily bring a return of £200k+ a year even if poorly invested into property. Yet your mortgage is only £250k. Are you currently both driving lambos?
 
Associate
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Cornwall, England
Just £5k to pay off debts and £35k to put towards a deposit on a decent house in my area would be enough to make a fairly big difference for me.
I reckon £1m would be enough for me to pay off debts for my whole family and then stop working a 9-5 job to focus on my writing for the rest of my life.
 

J.T

J.T

Soldato
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Earth
300K, I could pay off my mortgage and have enough left over to do an extension and a big family holiday to Florida and have change left over for other things.
 
Soldato
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Very subjective. However the biggest change in my life would to be completely mortgage free on our properties.

Around 700k would do that, I don't carry any other debt apart form mortgage debt.

This wouldn't leave me with any change though.
 
Soldato
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Right now £40k would be enough to pay off the mortgage. In a few months/ next year when we upsize probably about £200k to cover the difference between the value of current place and new one.

To not have to work again or at least cut my hours to 2-3 days a week £1mil should just about be enough.
 
Permabanned
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In Lockdown England
Thinking about it logically probably 50-100k would change my life. Put me in a different position indeed.

But I wouldn’t be perfect. I suspect the 500k - 1m then I’d be happy for my entire life. Could retire early etc.

But a change would be noticed in excess of 50k
 
Caporegime
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Llaneirwg
250k.

Could buy a house in happy with and no longer have a mortgage.

Next tier up would be much much more and require me to only work a couple of days a week
 
Associate
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Banbury, Oxfordshire
I was going to say anything to enable a lump sum payment off my mortgage to be fair. Keep working but can take a job paying a little less which I would be happier in.

But on balance I'm pretty fortunate really, no loans/debt to speak of and although I'm getting myself into a large mortgage I'm fortunate enough to have the deposit to be able to get my own place.

Yes multiple millions would be wonderful, but even a 50-100k lump payment off the mortgage would change my life significantly for the better with monthly payments and/or mortgage term reductions :)

Edit: Really it's a little like the old video of someone in a lambo looking with envy at someone in a helicopter, whilst someone in a 'normal' car looks at the lambo with envy, whilst someone on a bike looks at the car with envy etc... There's always someone with more money and/or better things than you if you.
 
Associate
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Other than the 20k I originally said, dreaming on I reckon 500k would do me perfectly as it would enable me to buy a house, buy my dream car and then because of the freedom from rent / mortgages I'd happily work part time and start enjoying my life.
 
Caporegime
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Dominating rooms with symmetry
I know myself enough to know a large sum would have a negative impact on my life so just enough to cover the mortgage payment and major bills would do me. Taking away the financial stress of the necessities would put me in a happy place.

Don't get me wrong I have savings to cover me losing my job for 6-12 months but that isn't exactly security in the current climate.

Interesting article just appeared on the BBC about wealth inequality actually: https://www.bbc.co.uk/news/education-48229037
 
Soldato
Joined
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Nottingham
Call it £10M .... then I could retire, get a new house and do it out like I wanted. Rent out my current house for a bit of pocket money and travel a lot more. Would probably do a bit of IT consultancy still but nothing much.
 
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