Soldato
Provided you didn't go mad with purchases I reckon you could live comfortably without working on £2m. £50k a year for 40 years sounds ok to me.
If Richard Branson offered you 2 million pounds...
- Thread starter wannabedamned
- Start date
Man of Honour
Crikey. The majority want it up the bum.
Caporegime
Of course you would, it's almost 3 times what the average man earns in his entire working life.
Soldato
Yeah 2 million is a huge amount of money - but its hardly going to set you up for life. For example, you wouldn't be able to quit work on 2 million I wouldn't imagine...
Plus when you got the 2 million you would have to explain to loved ones how you got it...
"How the hell did you afford this?!"
"Oh no biggie, I just let Branson stick it to me for a bit and he gave me 2 million"
"He what now?!"
Not worth the pain and humilation
Why wouldn't you be able to quit work with £2m in the bank? If you earned enough interest to just offset inflation, that is a £33,000 a year salary for me based on living for another 60 years. A lot of people live on considerably less than that! Also, that is living without thinking about it properly...
You would be able to use a few years worth of that capital to buy a house mortgage-free for you to live in, increasing your 'disposable' significantly. You could buy a few more providing that you bought wisely with a view to offsetting the lost interest with ongoing rental income, further cementing your 'retirement' position (retirement being where the capital runs out). Within reason, you could potentially ignore capital depletion if you were smart enough about your property business and live VERY comfortably without needing to work ever again. Doing that is also potentially more tax efficient than paying tax on the interest, but that is fairly complicated to estimate.
£2m is easily enough to not need to 'work' and still maintain an above-average standard of living.
But on 50k a year what would you do with yourself? You'd just be bumming around all day.
Pun intended
Man of Honour
But on 50k a year what would you do with yourself? You'd just be bumming around all day.
Pun intended
Well interest from that 2m every year would help to extend it further. You could live a decent life with 50k a year imo.
Soldato
But on 50k a year what would you do with yourself? You'd just be bumming around all day.
Pun intended
Work is an annoyance that I must bear to have the money to go about my life as I would like. Sadly, that takes up most of my time.
If I wasn't working, I'd be out doing what I want to do rather than what I have to do - and that doesn't have to equate to spending all of my money constantly!
Soldato
BRING OUT THE BRANSTON!
Soldato
The real question amongst all this, is, what would be the threshold amount of money that would make you do it?
Soldato
Maybe but you need to factor in inflation and taxation when working these things out in this context.
I reckon £2m used wisely would probably have you on somewhere around £6,000 a month after tax. If I continued to work I would obviously have even more but I wouldn't need to!
Soldato
Hell for 2mill i'd do him up the bum!
Soldato
£2m and a ride in his spacecraft and it's a date.
Hmm... zero gravity bonking...
Hmm... zero gravity bonking...
Soldato
£2m and a ride in his spacecraft and it's a date.
Hmm... zero gravity bonking...
The advantage of that is that you can't cry in zero gravity.....
Soldato
I'd do it for £10,000 never mind £2million
Soldato
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- 13 Nov 2006
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Soldato
Try everything once.
Man of Honour
you take the punishment then and ill take the 1m 990k
Soldato