I'm not driven by avarice, beyond enough to be comfortable, but it's fun sometimes to wonder what I'd actually do if I came into substantial funds, of different amounts.
Let's call it a question of zeroes, where 1 zero is £10-99, 2 is £100-999, 5 is a between 100k and a million quid, etc
Anyone got any good ones?
Let's call it a question of zeroes, where 1 zero is £10-99, 2 is £100-999, 5 is a between 100k and a million quid, etc
- Maybe give it to a homeless person or buy PsycoCandy lunch or buy a book/album off my wishlist
- A nice dinner or a new power-tool, buy a friend something they could do with
- between 1-10k. Tricky, it's a sizeable amount but for us doesn't materially change anything in our situation. In all likelihood, stick it in the ISA or pay of a bit of mortgage, or perhaps have a holiday
- 10-100k: More of the same really. It would make a decent dent in a mortgage or buy a nice car but we don't really want a nice car. We could help some people out, give a chunk to a local grass-roots charity, but our lives are not going to noticeably change even with £100k. This is the point we start to differ from a lot of our peers, for who £100k would effectively clear their mortgage or allow them to do major property improvements or pay for private education for their kids.
- 100k-1m: depending quite where on this wide scale, we can pay off all our mortgages. Even 1m isn't going to mean we can retire though it would mean our disposable income rockets so we could work less, or travel more, put substantial amounts into savings, etc. I would say our lives are still not drastically altered just more comfortable.
- 1-10m: Work should become optional especially with decent investments, you can effectively live a comfortable lifestyle without actually caring what you are spending. We don't have profligate desires so I reckon I'd retire and find interesting pursuits, interesting causes to support. Basically live like people who have really good pensions
- 10-100m: I reckon I could easily spend 10m on some luxury house, more depending where it is. Beyond that I am not sure what - more properties around the world perhaps but it doesn't really attract me when you can just rent and at this level, pay someone to make sure everything is how you want it. A house that sits empty 10 months seems a big waste. But you have the capability to seriously change the lives of a lot of people... rebuild our church building, buy houses for local charities to use helping people get a clean start.
- 100m-1bn... it's fun to just dream but I have no interest in a collection of supercars. Beyond a private island (which does actually attract me) I'm stumped. Interested to know if others have a realistic idea how to use this amount of cash. Being able to decide you're going to attend major sporting events and so on without bothering to check if there are tickets, hire a theme park or get private entry to busy tourist spots are all things I would enjoy as an introvert.
- 1-10bn. Utterly perplexed how you would even give it away fast enough let alone spend it. I fear I'd end up working really hard to try and figure out what to do with it, and be tired and stressed. Of course, everything you can possibly want or need is done without ever having to wait - you have staff clearing barriers before you even see them coming.
Anyone got any good ones?
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