How much (net) do you think would amount to not needing a salary again, assume age is circa 40. One lump sum
Appreciate people live within different means, interested on thoughts on this
Assuming you don’t own you home outright and don’t need to live super extravagantly, £6million. Buy house, a couple of investment properties and pay you and your spouse an annual tax free allowance of £80,000 each
Very much depends on how much you and your family need to spend every year. Assume you need £90k and 3% yield on your existing investment (real property, equities and investment funds), you need £3m worth of investment, excluding the value of the house you live in.
In practice, not many can have £3m worth of investment (fully paid, unencumbered). But one can always dream..
Assuming you don’t own you home outright and don’t need to live super extravagantly, £6million. Buy house, a couple of investment properties and pay you and your spouse an annual tax free allowance of £80,000 each
I think that would do me
160k net net with no mortgage is loads for a couple
what couldn’t you do with that kind of money
Very much depends on how much you and your family need to spend every year. Assume you need £90k and 3% yield on your existing investment (real property, equities and investment funds), you need £3m worth of investment, excluding the value of the house you live in.
In practice, not many can have £3m worth of investment (fully paid, unencumbered). But one can always dream..
Inflation is running at 10% though so really that 6milly needs to be 16.
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