Imagine you have no assets, and no means to get a mortgage… Not much of a stretch of the imagination for many, I think. What you do have, however, is £30,000 cash, tax-free.
How do you spend the money?
Live carefree for a year?
Invest in that cool new NFT your favourite streamer just tweeted about?
Baked beans?
Get creative.
29 comments
rainy day fund personally
20k in an ISA. 10k on training and certification to get my career to the point where I have the means to get a mortgage. Or perhaps the 30k could be used as a deposit for one :P.
If I was a more fun young person… bum about from hostel to hostel around the world until the money runs out.
If I was a more fun older person… holiday to Tahiti, Cook Islands, Seychelles and Antarctica. Come back, get a newer car, and a years worth of an au pair.
2 months of energy bills
Travel the world cycling for a few years.
An absolutely cracking horse. It’d be way beyond my capabilities but I’d learn what it was like to be at that level.
Realistically, external wall insulation and a garden room.
I would love to fully kit out a woodworking workshop. I’m slowly building up but funds for machinery are my main source of delay
Gme shares drs’d through computershare. Not financial advice..just personslly would.
I would pay it towards my mortgage.
Night out in London, would probably be back at a cash point by 10 though.
I would split it into 3
10k invested in Legal and general 7% yeild reinvested
10k invested in Aviva 7% yield reinvested
10k invested in fundsmith. Accumulation.
Assumptions the yeild remains the same and I assume a similar growth for fundsmith 7%. It also doesn’t include future growth of the stocks.
10 years it could be worth in excess of 59k
20 years it could worth in excess of 116k
This assumes no debts and my house is in good order.
Is pay off my car load, have a nice holiday visiting my sister in the US, replace all the windows in my house and anything left I’d probably Chuck in saving until I though of something worth doing with it.
NFT? You gotta be kidding me? You believe in that shit?
A tractor. Not sure what I’d do with it, but definitely a tractor.
Spend half of it on a fun car, rest will go to savings.
A car and equipment so i could go to craft fairs and sell my stuff
And a shit ton of craft supplies
Probably insulate the house and replace the windows.
Middle age is a hoot!
S&p 500
Lego, blow it all on Lego
Maybe buy a pretty decent camper van and live life on the road give up rented property
Premium bonds
Probably buy some MSFT stock at a 10% discount.
A vintage guitar.
BlackRock iShares index fund.
£10k in stocks. £10k on memories through travelling. £10k on starting a business.
Hookers and drugs,the rest I would just waste
It wouldn’t really effect me, just go towards buying a place in the future, which shows how fucked up the housing market is in the UK. Even with a 6 figure windfall I wouldn’t be going out and splurging on the local economy.
I would buy [this small garage in Hampstead garden suburb](https://www.rightmove.co.uk/properties/121061852#/?channel=COM_BUY), retire, and live off the rent.
Put it in the bank until you are able to get a mortgage.