United Kingdom

4108 readers

77 users here now

General community for news/discussion in the UK.

Less serious posts should go in !casualuk@feddit.uk or !andfinally@feddit.uk
More serious politics should go in !uk_politics@feddit.uk.

Try not to spam the same link to multiple feddit.uk communities.
Pick the most appropriate, and put it there.

Posts should be related to UK-centric news, and should be either a link to a reputable source, or a text post on this community.

Opinion pieces are also allowed, provided they are not misleading/misrepresented/drivel, and have proper sources.

If you think "reputable news source" needs some definition, by all means start a meta thread.

Posts should be manually submitted, not by bot. Link titles should not be editorialised.

Disappointing comments will generally be left to fester in ratio, outright horrible comments will be removed.
Message the mods if you feel something really should be removed, or if a user seems to have a pattern of awful comments.

founded 1 year ago

MODERATORS

tom

GreatAlbatross

frankPodmore@slrpnk.net

I'm homeless after making and losing £1,000,000 and having a hit film (metro.co.uk)

submitted 1 month ago by Flax_vert to c/unitedkingdom

30 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] TheGrandNagus@lemmy.world 6 points 1 month ago* (last edited 1 month ago) (2 children)

I could easily retire for life on that money and live very comfortably. Shit, it would give me a higher yearly wage than I'm on now.

I don't get why people online frequently act like that's not a lot of money. It's £750k.

You could buy an alright house (outside of London) on that, retire at 30, and enjoy an above average amount of after-bills spending money for the rest of your life, without having to work at all.

[–] danafest@lemm.ee 6 points 1 month ago (1 children)

How does the math work out on that? I'm not quite sure what home prices are like in the UK, but let's say you bought a house for 350k and paid cash. That leaves 400k. You retire at 30, and conservatively have 40 more years to live. That's only 10k/year for the rest of your life. You still have expenses such as home insurance, car insurance, consumables, etc. Doesn't seem like much. To be fair I'm also not factoring in any kind of pension or social security or anything like that.

[–] TheGrandNagus@lemmy.world 5 points 1 month ago* (last edited 1 month ago)

I live in the north east so I put £200k for a house.

I don't think your calculation takes savings interest into account.

If someone gave me 750k and said you can have that but you aren't allowed another paid job for the rest of your life I'd 100% take it.

[–] bizarroland@fedia.io 2 points 1 month ago

Yeah but it gets parceled out to you over 12 years and you still have to live on the money as it comes in in the meantime