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Life changing, wouldn't need to pay the mortgage off just enough to leave some actual money in the bank at the end of the month.
I think those saying millions are confusing enough to change their lifestyle with enough to pay for the like style they'd want in a dream scenario, in which case a four figure sum per person per week is probably only the start (how many footballers end up broke?), plus the lump sum to buy the big house, Ferrari etc.
For the sake of the thread, I'd want enough to be mortgage free with enough leftover to start a scalable business without having to go though the first few years completely penniless. That way I could keep busy and take a step back/retire once its running itself (and I could just keep a hand in the interesting bits like R&D).
Presumably robrowns and partner have a joint income some way north of £145K pa to have been granted a mortgage that large. Although pretty darn impressive for a 30yr old I guess there are some that are in that situation. But.....is a £425K mortgage on that sort of salary any more scary than a £200K mortgage on a £70K household salary? Never been lucky (or unluck, take your pick) enough to find out. I bet its easier to cut corners to pay it without the corners being a reduction of calory intake.
Our mortgage isn't far off that figure and even when I was working in engineering our income was nowhere near that! His might be but I think you're overestimating. As others said that sort of mortgage would get you an average house in a lot of the SE, and if you've got a good job and 2.4 kids you're going to want/need an above average house.
I'm quite thirsty at the moment, and quite fancy a cherry coke zero.
so.. about £1.50 would be pretty good right now...
DrP
convert - Member
Wow ... how do you sleep at night!
Presumably robrowns and partner have a joint income some way north of £145K pa to have been granted a mortgage that large. Although pretty darn impressive for a 30yr old I guess there are some that are in that situation. But.....is a £425K mortgage on that sort of salary any more scary than a £200K mortgage on a £70K household salary? Never been lucky (or unluck, take your pick) enough to find out. I bet its easier to cut corners to pay it without the corners being a reduction of calory intake
I think my concern would be losing present job, and having to find another at same or above salary.
Best of luck to the young fella though; he who dares etc
For the price of a hammer, a decent wheelchair and my travel expenses i could change any one of your lives 😈
And if caught i'd get my life changed for free 😆
Our mortgage isn't far off that figure and even when I was working in engineering our income was nowhere near that! His might be but I think you're overestimating. As others said that sort of mortgage would get you an average house in a lot of the SE, and if you've got a good job and 2.4 kids you're going to want/need an above average house.
I admit that I'm a bit rusty with arranging new mortgages. Is the 4 times your salary, 3 times the salary of a coulpe as a starting point for max mortgage not still used?
I'd be a coke snorting digger driver who rides motorbikes on the weekend. Not entirely sure I'd need to worry about paying the mortgage off..
I genuinely hope you win the lottery mate! Asides from anything else, you'd be ****ing cool. Just remember to invite me round.
To pay off debts and maintain existing lifestyle without working til requirement age I reckon would be something approaching 500k. Having said that, being mortgage free on it's own would still be life changing. I've been mortgage free before (until we decided to buy a stupid house in the hills), and it's great knowing that you're not beholden to a job in order to pay off debts.
My penis is rather large...
Is yours ?
I've paid off my mortgage twice...hardly life-changing stuff for me I found . I'd need about £1.5 million I reckon to give me the confidence to give up my job and start flashing the cash in a more reckless fashion.
£30K would make life easier, £150k would mean one of us could quit work, any more than that would be nice!
This is one of these threads when you realise that you really are on the outside looking in.
Yeah, [i]some [/i]of us could only [i]dream [/i]about retiring to the heart of the Cairngorms in their mid fifties.... 😉
I buy extra euromillions tockets when the jackpot is £100m plus. Clearly a much lower figure would suffice ! £2-3m would clearly make a big difference, £10m is a nice round number 😉 Basing this on a few property purchases and then a sum to provide a generous income from investments
£50,000,000
Great news I won a national lottery lucky dip!! My life is changed......