Do flatter yourselves.

[wim121]

Presumably answers don't include sticking it the bank and watching it disappear as if by magic. Banks and interest payments are so yesterday.

Obviously you wouldnt stick it in any ordinary bank account because of the taxes. With that amount of money you could have a financial manager/advisor take care of it for you. Invest how safely or riskily you want to.

[MarillionFan]

Obviously you wouldnt stick it in any ordinary bank account because of the taxes. With that amount of money you could have a financial manager/advisor take care of it for you. Invest how safely or riskily you want to.

[wim121]

As I said before, is anyone actually going to bother coming back with a reasoned and intelligent response of why you feel one cant live off £1m ?

[MarillionFan]

As I said before, is anyone actually going to bother coming back with a reasoned and intelligent response of why you feel one cant live off £1m ?

3% in the bank before tax.

Now fook off.

[wim121]

3% in the bank before tax.

Now fook off.

Wow five words and an insult, arent you great at furthering conversations knobjockey?


You would expect a far higher interest rate than 3%. But using that figure, that is still £2,500 per month. Many people dont make a higher salary than £20k pa (£1,666 pm) before tax and manage to survive on a single wage. £2.5k is around the same amount as two people working for £20k pa or one person working for £40k.

So how on earth do you think that is a meagre wage? For most, that allows them to live without having to worry about money or budgets.



Now if you care to respond intellectually instead of responding like a drunk toddler, I'll be prepared to speak to you.

[NickFitz]

Seriously?!

Even in this country or the US, you can live off the interest of £1m, retire forever!

It's not that you can live, it's how you can live

[wim121]

It's not that you can live, it's how you can live

As I said above, I think even at a pessimistic 3% interest rate, £2,500 per month before tax is a good wage. I wouldnt mind that, every month for the rest of my life. I could retire on that and travel the world very easily.

[MarillionFan]

As I said above, I think even at a pessimistic 3% interest rate, £2,500 per month before tax is a good wage. I wouldnt mind that, every month for the rest of my life. I could retire on that and travel the world very easily.

I couldn't. £3000 per month after tax just covers my basic outgoing for the family and so would leave nothing over. In addition that £1m in real terms would devalue at the rate of
inflation (4%) per year and the low interest rate leaves nothing to cover the reduction.

So in truth it's not enough. Realistically £2m is the minimum rate you need.

Hth

Now fook off.

[BrilloPad]

As I said above, I think even at a pessimistic 3% interest rate, £2,500 per month before tax is a good wage. I wouldnt mind that, every month for the rest of my life. I could retire on that and travel the world very easily.

But one needs somewhere to live. And of course there is the cost of children.

But remember that back in the sixties £250 per month for life sounded like a good deal. What would £250/month get you now? I still think the government plans to inflate their way out of the debt crisis. I hope I am wrong.

[DodgyAgent]

As I said above, I think even at a pessimistic 3% interest rate, £2,500 per month before tax is a good wage. I wouldnt mind that, every month for the rest of my life. I could retire on that and travel the world very easily.

Is that what we should all be aspiring to?