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How much money would change your life?

Discussion in 'General Discussion' started by iamdjdz, May 13, 2019.

  1. ZG002


    Joined: Jul 22, 2004

    Posts: 10,159

    Location: Up north in Sunderland

    £100k would pay off the house and leave me with enough a month to actually do the things I want and holiday more.

    I'm a simple fellow lol
  2. Angilion

    Man of Honour

    Joined: Dec 5, 2003

    Posts: 15,737

    Location: Just to the left of my PC

    I see two completely different questions that have two completely different answers:

    1) Change your life. That would have to be enough money for you to not have to work again, ever. You might choose to work, but whatever work you do would be by choice rather than for money.
    2) Improve your current life, but you have to continue working. That would be a much smaller amount.

    For me (1) would be at least £5M and upwards. There would be changes from £5M to £100M, maybe further. (2) could be as low as £20K. Clear my remaining bit of mortgage, buy a few home improvements. There would be further improvements with more money, e.g. enough to provide an income of even a few thousand a year would allow me to reduce the hours I work, which would significantly improve my life.

    But as it is, I'm doing OK now. Thank goodness I was able to buy a house >20 years ago. I don't even know how people manage nowadays. Renting a single room costs more than my mortgage.
  3. neviditelny


    Joined: Oct 15, 2015

    Posts: 917

    As Angilion says, depends on what you want to do. I would aim at around 5 million as then I could get myself a good property (probably would look at moving back home to Sweden), I could take a few years at uni to study for a degree in a subject that interests me and hopefully open my own company afterwards.
  4. Cromulent


    Joined: Nov 1, 2007

    Posts: 3,390

    Location: England

    £500 to £1000 extra a month would make a massive positive difference.
  5. Efour


    Joined: Sep 8, 2005

    Posts: 24,115

    Location: Norrbotten, Sweden.

    Million quid would probably sort me out and give me the base to do house, car and holidays for rest of life.
  6. martin363


    Joined: Jan 18, 2012

    Posts: 351

    Location: Ho Chi Minh, Vietnam

    Wife and I are very lucky, no debt, 3 properties (2 in the UK, 1 in Greece) and planning to stop work in 2 years, at 48. however, still worry I have enough, 500k would stop me worrying as I can't step back once I stop. Stopping for me will be the bravest thing I ever do.
  7. wedrum


    Joined: Aug 11, 2016

    Posts: 4,166

    Location: Cheshire

    bout tree fiddy
  8. robgmun


    Joined: Apr 30, 2006

    Posts: 14,377

    To be very comfortable about this. £2 million would do it too. Anything less than £1 million and i wouldn't be able to quit work yet but be chill about life
  9. AndyCr15


    Joined: Apr 28, 2011

    Posts: 8,823

    Location: London, UK

    As others have said. Clearing the mortgage I would imagine is pretty life changing.

    A big place to live too (detached house would be all I'm asking) so perhaps £800k to trade up my home and have it paid off.

    I don't actually think I would want to quit work. Even if I have two weeks off work, the end of the second week I'm sometimes getting a bit bored! It would be nice to not have to work full time hours though.
  10. Kreeeee

    Man of Honour

    Joined: Jul 13, 2004

    Posts: 41,193

    Location: /* */

    Life is far too short to live to work.

    I would need around 15-20 years worth of my current income to be life changing. With that amount I'd invest it for 20% return per year and retire.

    Other than early retirement there's nothing I'd want to spend a lot of money on.
  11. D.P.


    Joined: Oct 18, 2002

    Posts: 29,873

    As others have hinted at, to be truly life changing I would want 5-10M minimum. To improve my life in a substantial way then i would still look to get around 1M. Smaller amounts obviously still help but they don;t fundamentally change things and I would still need to work a 40hr week office job.

    I would like to clear mortgage (850K, houses are expensive here), buy a small chalet in the mountains (240K+). At that point I could change jobs to somehtign that pays less but is perhaps more personally interesting, I would still have to work full time though if I want to retire comfortably and go on vacation.
  12. TheOracle


    Joined: Sep 30, 2005

    Posts: 10,819

    Enough to buy a new house outright, furnishings, couple of nice car's and enough left over for a decent holiday each year.

    2-3 million
  13. BennyC


    Joined: Sep 25, 2006

    Posts: 13,652

    Location: Buckinghamshire


    Invest £2m for a moderate income to sustain myself lavishly without having to work, £50-80k+pa, and ***** the remaining £1m on toys & frills.
  14. Bickaxe


    Joined: Nov 8, 2013

    Posts: 7,746

    Location: Fareham

    £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.
  15. Lakeland


    Joined: Nov 1, 2005

    Posts: 5,072

    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.
  16. adolf hamster


    Joined: Oct 18, 2012

    Posts: 6,883

    about £200k to get onto the property ladder, would let me focus on a career i enjoy rather than having to endlessly chase more money to get out of the renting loop.

    anything beyond that and i reckon it'd end up never being enough, there's always more stuff you could be spending money on.
  17. grudas


    Joined: Mar 12, 2008

    Posts: 19,953

    Location: West sussex

    £500k to buy a house outright and that'd do me well.

    otherwise if we go into other figures

    £3-4mil to buy a property for my self and a few properties to rent out and I'd be happy.
  18. flea.rider


    Joined: Aug 7, 2017

    Posts: 586

    wow .. 200k I'd be like a pig in **** ..
  19. Nitefly

    Man of Honour

    Joined: Sep 24, 2005

    Posts: 30,474

    Give me £60k cash and I'd probably resign from my job.
  20. Psycho Sonny


    Joined: Jun 21, 2006

    Posts: 29,659

    That is the most retarded scenario I've ever heard of.

    You would spend 16 hours on a plane just for a coffee in one of the busiest cities in the world where it would likely take you 30 minutes standing in a queue to be served after waiting 2 hours in traffic from the airport then another 2 hours back.

    What a complete waste. Fair enough if it was to watch a world heavyweight title or something but to do it for a coffee which would likely be crap anyway would be a waste of life.

    You aren't going to get that day back you just spent 20+ hours travelling.