Would probably pay off the mortgage keep 200k in the bank for some nice trips away. Buy some nice things for my friends and then invest the rest.
It sounds like heaven, doesn’t it? Well, for a while it is. Then you start to get restless, bored, think about working 2-3 days a week, etc. Fact is, you have to find something. You can’t spend the rest of your life jus5 doing nothing.
It depends really. If you have basically unlimited money (like say you won £100m on the Euromillons) then I reckon you have to be the most unimaginative twat if you can't keep yourself entertained without working. You can literally do anything you want whenever you want with that sort of money. A million spread over 40 years isn't the same as you would have a lot of free time and not much money to do anything in that free time. Having no job always sounds good (and it would be) but you'd need to have a lot more money than you think to actually make it enjoyable.
People lack imagination today, when you think about it there are loads of things you can do that are more enjoyable than work (unless you love your job). Write a book, become a Trainspotter, paint, walk, play Xbox, buy a bike, if your practical restore or build something, charity work. Anything really.
I'm not arguing that there are a million things I'd rather be doing than working. Lying in bed doing absolutely **** all apart from watching TV I would prefer than going to work. It is just that if you have the million mentioned in the OP then I think you would struggle with money if you are under 40 if you never wanted to work again as you are probably looking at about 25k/30k a year with a lot of free time where you are more likely to be spending money than if you were at work.
I'm no financial wiz but I'm sure you could earn enough interest to live comfortably 25.000 x 40 = 1.000.000 with interest you should be ok and I suppose you have to pay everything off first but that would make 25.000 more than enough. I'm over 40 so would leave work without a thought.
I'm probably looking at it wrong, but my thinking is that I earn a fair bit more than 25/30k atm and still have **** all money left over each month despite being in work 35 hours a week not spending any money. Give me back those 35 hours to do with what I please and I'd be completely skint very quickly
But you'd have no debt so the £25k may well be enough? Mrs luv earns much more than me so I'm thinking she stays in work and I have the million and her wages.
Indeed ... t'would be most gratifying ... even just sitting there knowing you don't have to get up unless you want to
I haven't done the maths, but wouldn't surprise me if after I've paid all my bills/mortgage I had close to whatever 25k a year gets you each month left over. I am terrible with money and whatever I have I spend. I guess I would adjust to whatever amount I was getting each month, just wouldn't feel like I had hit the jackpot by winning a million. I'd rather just blow it all in a short space of time and have a great time doing it I think.
