Viewing 40 posts - 1 through 40 (of 55 total)
  • I don’t have £550k but…
  • Cougar
    Full Member

    … if you did, as in actual spare money left over after all the mundane stuff like paying off credit / mortgage, what would you do with it?

    I’m thinking:

    Buy fixer-upper houses, fix them up and sell them on.

    Buy fixer-upper houses, fix them up and rent them out.

    Start a small business, maybe a pretentious artisan coffee shop somewhere affluent.

    Any or all of the above after first relocating to a country that isn’t looking like it’s about to implode.

    C&H, obviously.

    WWSTWD?

    perchypanther
    Free Member

    Buy fixer-upper houses, fix them up and sell them on.

    This.

    Particular set of skills and all that.

    I’d also open a florist. Just so I could drive the van to deliver the flowers.

    fasthaggis
    Full Member

    Cake shop.
    Everyone likes cake.

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    matt_outandabout
    Full Member

    I’d buy a campsite.

    simondbarnes
    Full Member

    I’d put it in the bank and live off it for the rest of my life.

    nickjb
    Free Member

    Its an interesting amount of money. Not enough for a jet set life style but invested well could net you £50k a year for the rest of your life. Certainly enough to go and do something fun. For me, buy property for rental. You get a nice income and you have a tangible asset, both of which should rise largely in line with inflation.

    bikebouy
    Free Member

    I’d buy a bigger boat..

    thisisnotaspoon
    Free Member

    Start a small business, dont really care what* as the idea would be to get it running, hire a manager and retire as a director. Not ‘buy myself a job’ as some people do. Doing up houses just looks like paying money to be a better paid labourer unless youre actually a good project manager in which case you could probably earn more working in engineering and not get your hands dirty. With half a million you could at least buy land, have houses built and make some serious money.

    But really thats probably only going to take £20k-£30k investment. The rest Id probably just put in a pension as a safe investment and retire on!

    *within reason, I could make anything from soap, to beer to bike parts with enough enthusiasm not to be bored.

    maccruiskeen
    Full Member

    18333333 Blackjacks

    18333333 Fruit Salads

    18333334 Mojos.

    bentandbroken
    Full Member

    Based on Moab’s comment I had a google and found this;

    Franchise hires and campsite for sale

    z1ppy
    Full Member

    retire…

    bentandbroken
    Full Member

    That should read French Gites and campsite, but it was hard enough to type in a phone and I am not going to delve in to the delights of editing it

    perchypanther
    Free Member

    18333333 Blackjacks

    18333333 Fruit Salads

    18333334 Mojos.

    What  will you do with the ha’penny change?

    Pack in (paid) work and pay myself 24k a year for the next 22 years.

    barkm
    Free Member

    Buy a boat, sail around the world repeatedly until eaither dead, or skint, preferably the former.
    Maybe invest in some skills I can take with me (fixing stuff, languages etc). Put the change into a property to rent out in <random country>.

    Cougar
    Full Member

    I’d buy a campsite.

    Damn, I wish I’d thought of that. A mate of mine works in films (Hollywood, not top shelf) and has used the proceeds to do just that. He seems to be living the life of riley.

    I’d put it in the bank and live off it for the rest of my life.

    Isn’t the interest there about five grand a year? Or is my maths off?

    Oh, or do you mean spending it? What’s that, £25k/year for 20 years? I was kind of hoping to last a bit longer than that TBH!

    Drac
    Full Member

    I’d post on an Internet forum for financial advice rather than speak to a professional.

    simondbarnes
    Full Member

    Oh, or do you mean spending it? What’s that, £25k/year for 20 years? I was kind of hoping to last a bit longer than that TBH!

    Why would I need that much a year if my mortgage was paid off?

    MSP
    Full Member

    Get a couple of investment properties to rent out.

    Go and live in Asia close to a beach and good diving locations for 5 years while doing an open university degree course, perhaps spend 6 months at a location before moving onto another.

    After 5 years make a new plan.

    Cougar
    Full Member

    Why would I need that much a year if my mortgage was paid off?

    Good point. Need, probably not. It could fund some expensive hobbies or holidays though, nicer car maybe?

    TheBrick
    Free Member

    Its an interesting amount of money. Not enough for a jet set life style but invested well could net you £50k a year for the rest of your life

    You must be a good Investor to get that.

    footflaps
    Full Member

    C&H?

    P-Jay
    Free Member

    I’d avoid property as an investment at the moment.

    It’s just gut feel, We’re buying (hopefully) in the next few months so I spend my evenings window shopping on Rightmove, I see decent houses sit around for 6, 12 even 18 months before being discounted heavily and then sell below asking. My Boss almost lost a sale because the mortgage co didn’t agree with the price and knocked it back 7%, another guy had to pull out of a purchase because they did they same, but the seller wouldn’t budge, that was 6 months ago, it’s now for sale below the mortgage cos value, but not sold.

    Personally, until at least 1st Nov, I’d be looking at something really safe and really inflation proof, Gold probably although I don’t pretend to know it’s current value or outlook. Trade war between US and China, stupid Brexit, plus even if that isn’t resolved we’re likely to have been in recession this quarter and last, the headlines alone will cause more than ripples.

    cromolyolly
    Free Member

    Like notspoon says. The first guy I worked for, who was not eyewateringly rich but was more comfortable than necessary told all of us that if you want to be financial sound you need to stop working for your money. You need to take time off to eat, sleep and, well, other things. So you put your money in places where it works 24/7.
    So I’d invest it. Maybe rental properties, although those require maintenance. Boring but shares that pay dividends. Funds that are indexed, low fee. 10% is relatively easy to do with those.
    Then I’d buy the campsite but I’d be the only one on it.

    Drac
    Full Member

    On a serious note.

    Holiday lets either lodges, land with pods or houses they can bring in a comfortable amount weekly.

    maccruiskeen
    Full Member

    What  will you do with the ha’penny change?

    retire

    molgrips
    Free Member

    At my age, I’d being forward retirement. And use the security to improve my working life. I’d quit my job and use my contacts to do the same work on a contract basis, taking lengthy breaks in between shorter gigs, just taking longer breaks as I got older.

    maccruiskeen
    Full Member

    Go and live in Asia close to a beach and good diving locations

    Then retire on the the damages after Elon Musk tweets about you being a pedophile

    Edukator
    Free Member

    The only person I knew who had that kind of sum (inflation adjusted) to suddenly invest had just sold his London home, he reckoned the property market was about to tank. This was 1989 and a few years later he bought back into the same street at roughly half price having rented in the interim.

    Me, I’d suggest Madame retire from teaching and she’d ignore me but I’m sure there’d be more horses around.

    maccruiskeen
    Full Member

    I’m sure there’d be more horses around.

    Invest in a knackers yard?

    oldnpastit
    Full Member

    meh.

    Nico
    Free Member

    bikebuoy earlier:

    nickjb
    Free Member

    You must be a good Investor to get that.

    To some extent, but only good, not exceptional. 9% is pretty achievable if you don’t mind a bit of work and a bit of risk.

    funkmasterp
    Full Member

    Buy a house outright (£220k or thereabouts), buy a camper-van and then work part-time doing something I actually like. Invest some for my kids futures and put the balance in a pension fund.

    Jesus! I’ve become a bore.

    scruff9252
    Full Member

    Spend £50k on a yacht plus upgrades, preferably steel with good heating. Stick the rest in a global index tracker fund and live off circa £20k pa doing a slow circuit of the planet. Not just the warm trade wind route, but also taking time to explore some of Norway, Greenland, Chile & Patagonia.

    belfastflyer
    Free Member

    A nice holiday/weekend place on the north coast of NI. Or just invest it and live from the returns.

    The key would be to not tell anyone about it and not show off.

    RoterStern
    Free Member

    Just think how much coke and how many hookers!!!!

    Harry_the_Spider
    Full Member

    Retire.
    Move somewhere warmer.
    Buy a better road bike.

    CraigW
    Free Member

    Buy land, then plant trees. And build some sort of bothy, and space for a campsite.

    singletrackmind
    Full Member

    Holiday lets through the summer , then 4 month term lets over winter for those who live on holiday home / mobile home parks year round. Many of these have a 9/12th clause for planning regs iirc.

    I could buy 3 properties locally that would be fine for that task, and potentialy gross c£1200 a week through the summer months, allowing for some expenditure , advertising, cleanin , laundry etc. Then another £1500 a month x 4 for the over winter period

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