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What would you do with £100,000?

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What would you do with £100,000?

Postby Kay » Wed 30 Jul 2003 11:04 GMT

OK, now we've had a few answers to the what would you do with £10,000 question. Let's see what you would do with £100,000.

I haven't decided yet... :?
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Postby Squiffy » Wed 30 Jul 2003 11:26 GMT

Pay off mortgage.

Invest 50,000

With the rest, take the holiday of a lifetime, buy a new car..............

If only........................*sigh*
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Postby Kay » Wed 30 Jul 2003 11:32 GMT

Hmmm. I can't decide. It's a lot but it's maybe not enough to ensure freedom for life.

I think I would sell the house we have in London and buy a bigger one. Rent it out, and live off the rental income for as long as possible. The house would increase in value over time and we could always sell it if necessary.

Meanwhile I'd go and live in Thailand for a year or two whilst deciding on the longer term plan.

So, the extra £90,000 wouldn't really affect us other than we'd have more money. If that makes any sense. :?
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Postby Purley » Wed 30 Jul 2003 13:12 GMT

I would pay off debts, do a bit to the house and give some to each of my sons.

Take my granddaughter to England for another holiday.
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Postby chabrenas » Wed 30 Jul 2003 17:27 GMT

This is one I reckon I should be able to mismanage again :) :twisted:

Actually, it should be easier this time - we've finished paying for upkeep and schooling of our two sons, so we can concentrate on doing something that gives us more direct satisfaction, while trying to leave something worthwhile for them when we head for the incinerator. Liz is right, though - it's cost effective as well as satisfying to pass something on while we're still around. The tax man gets heavy-handed about inheritances at quite a low level, but discretionary trusts are expensive until you have quite a lot more than 100,000 to protect.

I'm going to assume the same conditions as with the 10,000 windfall - no debts waiting to be cleared (that'll be the day...).

1. 10,000 to finish off the French cottage.

2. 10,000 to me for photographic and computer equipment

3. 10,000 to wifey for whatever she wants to do for her own amusement

4. 10,000 each to our two sons

That leaves 50,000 to invest. About 200 quid a month net. Not worth the bother. I should be able to earn that for a few years yet without busting a gut. Let's do what we usuallly do:

--- IT'S JUST ABOUT ENOUGH TO COVER THE RENOVATION OF THE BARN. That would give us a decent house and a guest cottage which we could rent out or (just as likely) use to house a fading relative. And it would increase the value of our home without pricing it out of its neighbourhood, so a good long term investment to pass on. Maybe now would be the time to consider setting up a trust, or donating ever-increasing shares to our sons each year. Looks as if we'll need a bit of tax advice, which will cost.

Does the one with the best scheme actually win 100,000? Can't you find a sponsor, Kay?
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Postby Kay » Wed 30 Jul 2003 20:11 GMT

Does the one with the best scheme actually win 100,000? Can't you find a sponsor, Kay?


I wish!!!! LOL!

A recurring theme is saving for your children's future - paying to get them through higher education, buying them fancier houses, or just passing on some money to them.

We don't have kids, so ideally if we could know how many years we have left on this planet, we could budget for it. It's too scary to think that we might end up old and skint so we're going to have to over-estimate our needs. However, it does, p*ss me off sometimes to think that we'll have to leave some of it behind, as we'd rather spend it all before we go.

Mike K-H, you can have BE when we die, if you want it. But what to do with the rest of it. :? Maybe a trust fund for some talented and needy person? Not that it'll be much anyway if we manage to die just before we spend the lot. :twisted:
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Postby Victor » Thu 31 Jul 2003 06:50 GMT

Having no kids makes it easy.

By a small house in Crete with a pool.
Upgrade the car with remaining funds.
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Postby Rich » Thu 31 Jul 2003 07:16 GMT

100,000 and it's just me? No wife/parnet/ kids. Fantastic. Kay, please find a sponsor!

Would probably put 30k in some sort of savings investment thing, 25k in a pension fund, 20k to my parents or help them pay off some of the mortgage and 25k to splurge. prob a good digital camera etc. then travel
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Postby Squiffy » Thu 31 Jul 2003 07:41 GMT

Maybe a trust fund for some talented and needy person?


Very kind of you to offer , Kay. I am glad to accept :wink:
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Postby chabrenas » Thu 31 Jul 2003 15:59 GMT

Where are all the insurance and financial planning gurus? Kay & Dave, you should be able to buy an annuity that will pay you a monthly sum while you remain alive - and since it won't leave a capital sum behind when you go, that monthly sum should be significantly more than the net interest you'd get by putting it on deposit.

Since you're not even 50 yet, you'd do better to have the annuity linked to some index or other, otherwise your monthly payments will be peanuts in 15-20 years' time.

However, you should still be able to earn a reasonable living for the next 15-20 years. Therefore it would probably be better (but more hassle) to buy a house in a place whose popularity is increasing and let it out. THEN sell it and buy the annuity.
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Postby Kay » Thu 31 Jul 2003 16:33 GMT

Thanks, Mike. That's just what we'll do if we find a spare £100K lying around.

I found a Rs100 note (about £1.25) on the ground the other week, so there's still a long way to go... :P
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Postby chabrenas » Thu 31 Jul 2003 18:51 GMT

Rs100. .... what does an Irish Sweep ticket cost these days?
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Postby Kay » Thu 31 Jul 2003 18:56 GMT

what does an Irish Sweep ticket cost these days?


Dunno, but Dave won B12,000 (nearly £200) on the Thai lottery last time we were there. :D
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