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..
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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
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160k net net with no mortgage is loads for a couple
what couldn’t you do with that kind of money
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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..
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Inflation is running at 10% though so really that 6milly needs to be 16.
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