Could You Live Off 1 Million Pounds?

Dale
Born & raised in England, Dale is the founder of Living More Working Less & he has been making a living from his laptop ever since leaving his job as an electrician back in 2012. Now he shares what he's learned to help others do the same... [read more]

Winning a million is everybody’s dream, but if you were lucky enough to win it yourself would you be able to live off it & never have to worry about working again?

I’d like to think so, but in today’s economy that might not be the case. Either way I’ve decided to look into it to answer the question once & for all.

Plus if you read the post to the very end you’ll also find a step-by-step guide outlining how you can actually make your very first million (even if you’re starting from nothing).

Could You Live Off The Million Pounds Itself?

Million Pound MansionWell right now the average salary in the UK is ยฃ26,500 which gives a take home pay of around ยฃ20,974 each year. Based on that if you had a million in the bank you’d be able to live off it for just over 47 years if you were paying yourself the average salary.

47 years is a fair while, and depending how old you are you might be able to get by without needing to work again. The problem is though that if you had a million pounds in the bank you’re going to find yourself very hard pushed to live off just ยฃ20,974 each year โ€“ you’ll most likely want to increase your spending & splash out a bit.

Let’s say you decide up your salary to a more comfortable ยฃ50,000 each year, that will see your million lasting just 20 years which for most people is no where near long enough to allow them to quit their jobs.

One thing you certainly couldn’t do is live a millionaires lifestyle with a million pound, or at least not for very long anyway. The average house price in England is ยฃ250,000 so even buying just a basic house is going to see a quarter of your million disappear straight away.

However what you’ve probably noticed is that in those calculations there’s one thing missing, the interest โ€“ on a million pounds surely you could live off the interest alone right? Well, we’ll soon find out.

By the way, you might also like these posts…

[related_posts_by_tax posts_per_page=”3″ title=”” order=”RAND”]

Could You Live Off The Interest of 1 Million Pounds?

Lamborghini AventadorGiven that the current interest rate in the UK is 0.5% that would mean if you put a million in the bank you’d only earn ยฃ5,000 each year! Whilst that may still seem like a fair bit of money (ยฃ5,000 for nothing!), I imagine that like me, you probably expected that it would be a lot higher.

Of course there are some savings accounts that offer higher interest rates but generally these rates are only offered if you don’t touch your money. It might be nice watching the interest rack up in your account but this kind of defeats the object of having the million in the first place.

You could put the money into something like a hedge fund. A hedge fund is where a professional investor overlooks your money & creates a pool of investments for you. As opposed to creating just 1 large investment the hedge fund manager will create several smaller investments to minimise risk & will frequently move your money around for you based on the market.

These generally yield around a 5% return on your investment but of course it does come with some risk. Based on that rate of return if you invested the full million you’d get ยฃ50,000 per year.

This way after 20 years you’d have earned another million, and if you then decided to re-invest that million you’d then be earning a comfortable ยฃ100,000 a year. Not forgetting that you also have 2 million sat waiting for you to withdraw whenever you like from your investments (providing your hedge fund manager was on the ball that is).

That’s just one example of what you could do with your million, but what I’m trying to get across is that basically money makes money. Whilst it might be difficult to live off the actual million itself, if you used the million wisely you could certainly set up a plan to bring in enough money each year to make sure that you’d never have to work again.

There a tonnes of things you could do with a million to turn into more money, and with a million pounds you’d quite easily be able to afford an expert financial advisor that would be able to help you do just that.

So, Could You Actually Live Off 1 Million Pounds Then?

Well if you gave up your job then you probably couldn’t live off the million itself โ€“ at least not for very long (or without strict budgeting), but if you had a sensible head & invested your money wisely then yes, you’d definitely be able to make a good living & earn enough to not have to work again.

Did you know: The average person in the UK will have earned 1 million pounds by the time they are 56.

How To Make 1 Million Pounds In 1 Year (or Less)

Thanks to the internet making a million pounds isnโ€™t actually all that difficult nowadays โ€“ and I know thatโ€™s a pretty bold claim to make but itโ€™s true & Iโ€™m about to show you howโ€ฆ

Iโ€™ve personally used this exact method myself & it enabled me to leave my job as an electrician (which you can find out more about here) โ€“ and frankly if youโ€™re not already leveraging the internet to make money then youโ€™ll soon find yourself getting left behind.

Firstly let me just stress the fact that you donโ€™t need to be some sort of tech whizkid or guru to make money on the internet โ€“ those days are long gone, these days itโ€™s accessible to everyone regardless of your experienceโ€ฆ So no excuses!

Providing youโ€™ve got a PC or mobile phone & an internet connection youโ€™re good to go (which being here reading this post Iโ€™m assuming you have).

Firstly, the numbersโ€ฆ

To make 1 million pounds in 1 year youโ€™d need to make roughly around ยฃ2,740 per day which might sound like a lot of money but given that the internet is online 24/7 if you were able to generate a passive income in reality that means you only need to make around ยฃ114 per hour.

And ยฃ114 per hour doesnโ€™t sound crazily out of reach does it?

Yet if you nail that number then after 1 year youโ€™d officially be a millionaire.

You see when I said making a million online wasnโ€™t all that difficult I wasnโ€™t lying โ€“ the internet is powerful, not only does it give you the opportunity to earn around the clock but it also gives you the opportunity to reach billions of people right at your fingertips.

So hereโ€™s how you can nail that ยฃ114 per hourโ€ฆ

The internet provides you with an amazing opportunity called affiliate marketing which is basically where you connect people with the products theyโ€™re looking for online & get paid commissions in return.

The commissions can quite often range into hundreds (and sometimes even thousands) of pounds per sale โ€“ but the best part is that you donโ€™t have to do any of the selling or any of the product handling/customer support.

You literally just act as the middleman that connects the person with what theyโ€™re looking for โ€“ so if they search for something via Google & click through your link you get paid even though Amazon (as an example) handles the entire sale & you only referred the customer.

In my opinion itโ€™s the without a doubt the best way to make money online & itโ€™s actually really easy to get started โ€“ hereโ€™s some free training to help you get started.

But anyway the reason I started talking about this is because affiliate marketing is something that can ultimately provide you with a passive income because once youโ€™re links are โ€œout there on the webโ€ you can essentially earn money around the clock, even whilst youโ€™re sleeping.

Somewhere around the world itโ€™s daytime & thereโ€™s always somebody online so all it takes is somebody to click on your link, make a purchase & you earn a commission.

This means that if you find an affiliate program that pays you ยฃ114 per sale (which there are thousands of) then you literally only need to make 1 sale per hour in order to generate the million in a year.

But even if you only decided to promote a product that paid ยฃ10 commissions if you still made 1 sale per hour then at the end of the year youโ€™d have generated a whopping ยฃ87,600 of income online.

That is the power of the internet!

Which is what many people are beginning to realize โ€“ and thatโ€™s why youโ€™re probably noticing more & more people starting out online. Itโ€™s an absolutely goldmine if you know what youโ€™re doing.

And thankfully Iโ€™ve fixed you up with some free step-by-step training here.

That training will teach you more about affiliate marketing, how it all works & how you can actually begin making money. I highly recommend you check it out because affiliate marketing really is a fantastic way to make money.

What Could You Buy With A Million Pounds?

Just for a bit of fun I’m going to show you some crazily expensive things you could buy if you had a million pounds. Feel free to tell me what you personally would buy with your million by leaving a comment.

Lamborghini Aventador

Lamborghini Aventador.
With a starting price of around ยฃ250,000 if you had a million pounds you could treat yourself to one of these & drive around in style. Just remember though that it’ll need servicing every 7,500 miles which will set you back around ยฃ9,700 over a 2 year period. Oh and not to mention those ultra wide tyres which will cost about ยฃ3,000 to replace. Hey you’ve got a million, who cares!

Royal Penthouse SuiteRoyal Penthouse Suite at President Hotel in Geneva.
For just ยฃ40,000 a night you could check yourself into the royal penthouse suite at the President Hotel in Geneva. This penthouse suite has been visited by a number of VIPs and with a million pounds you could be among the lineup. Bill Gates, Rihanna and Bill Clinton are just some of the names that have spent the night. It boasts 4 bedrooms & 12 marble bathrooms… because everybody needs 12 bathrooms right?

Chanel Diamond Forever Tote bagChanel Diamond Forever Tote Bag.
Ladies, why not treat yourself to the Diamond Forever Tote Bag by Chanel. You could pick one up for around just $261,000 and it’s been described as one of the costliest bags there is on the market. It’s made of crocodile leather and the clasp is embedded with 334 diamonds set on 18 carat white gold. Oh, and there were only 13 ever made – though if you’re superstitious it’s probably not for you.

So I hope you found this post useful & I hope it’s answered your question. Now if ever your friends break into an argument about whether or not you could live off a million pounds you’ll be able to settle is straight away and sit there looking all smug ๐Ÿ™‚

Dale
About the Author:
Born & raised in England, Dale is the founder of Living More Working Less & he has been making a living from his laptop ever since leaving his job as an electrician back in 2012. Now he shares what he's learned to help others do the same... [read more]
Blue Arrow

Free Training:

Turn Your Passions Into Profits ๐Ÿ’ธ

Training Video Preview

Through my step-by-step training series, you'll discover how to turn your passions into profits & launch a thriving affiliate business, even if you're a beginner with no previous experience.

55 thoughts on “Could You Live Off 1 Million Pounds?”

  1. I would spend a year or so creating/implementing a perfect business plan in an area that I have interest in. Though for people who want a less risky income, these days rental money can be astonishingly good and can bring a steady, reliable income. Hedge funds can be risky and the managers will take 20% of the gains with a 2% asset fee. So ยฃ20,000 yearly fee plus 20% of the ยฃ50,000 (assuming there’s a 5% increase in the ยฃ1m) and that works out as ยฃ10,000. Overall the hedge fund will give you ยฃ20,000 and the managers will be getting ยฃ30,000. In my opinion hedge funds are better for people who have a lot more money and don’t mind taking risks. Index funds are less risky and if you see a market that is distorted these funds are perfect. They consist of evenly spread investments over the chosen market and they follow the market index. The plus side is there’s no portfolio manager so less fee’s.

    Reply
  2. I wouldn’t listen to investment rules or splashing out on big things.
    There’s plenty of ways to increase revenue that doesn’t include investing, hell, there are professionals out there able and liable to give advice for a fixed price.
    Being that said, advice is probably the most liable road to fall down.

    But, with the money, I’d buy a house – standard, boredom will become apparent to me so, seen as money can buy ‘almost’ anything, I’ll educate myself, by educate I mean throw qualifications in my pocket.
    That way, I can therefore get a decent job.

    All of which would come as a surprise to me to begin with, so ultimately, my goal would to be to keep the money out of hands reach for the time being.
    I.E: Keep it vaulted up somewhere, untouchable for a few months until I’ve decided ultimately a plan for the money.

    -Everyone is different.

    -Property investing is massive, buy a few properties, rent them out, live of the rent. That said, find locations, evaluate, property value may increase.
    Invest in oversea holiday locations, hotels, houses, villa’s etc.., people pay a bomb to go somewhere worth visiting abroad.

    Reply
    • Some good ideas Chris, however getting a job after winning/inheriting/making a million would be very difficult. Employers want some kind of hold over their employees, the fear that they might lose their job, to ensure that they get the best performance. As soon as they get a whiff of a safety net (you have money to fall back on or can return to self-employment) which means you can’t be pushed and pushed without the risk of you walking away, they don’t want to know.

      Reply
      • That’s very true indeed, you would have to keep it a well kept secret not only from your boss but from your workforce too (as we know how people like to gossip, and it would inevitably get to your boss). I suppose you could try for a job outside of your immediate area where people don’t know you but then on the other hand you probably wouldn’t have the right attitude because knowing you have such a safety net you’d quickly get sick of traveling every day (and working!).

        Reply
      • can’t see the problem if you keep it to yourself but you’re boastful enough to tell your potential employer you’re a millionaire don’t expect to be greeted with open arms lol

        Reply
      • Rubbish . When I scored my first million I celebrated $300 on a Bose music system carried on working. Second million didn’t celebrate carried on working ( nurse) retired at 59 years. No one knows my value. 11 year old car, terrace house in midlands shop at aldi. Must be many like me

        Reply
  3. I would invest ยฃ500,000 in setting up a family bank & the other ยฃ500,000 would be invested in basic’s like “water, farm land, rail tracks”

    Reply
    • Yes, the way the houses are flying up over here lately I’m sure land could be an investment certainly worth thinking about. However the trouble with land is that it doesn’t pay you back instantly and often it actually ends up costing you money due to the upkeep.

      Reply
      • Hi Dale, hope you are well.
        If i won one million pounds i would move to Tanzania permanently and put my money in to 3 main banks which offer between 7 and 13% per year so that would earn me between ยฃ56000 and ยฃ104000 per year just on the interest and then i would set up several more businesses.
        As Africa is growing rapidly now this is a good place to make a life for myself and my wife as she is from Tanzania anyway.

        Reply
        • Yeah moving to other countries were rates & tax is different is always something worth considering… Certainly be nice to head somewhere with better weather than the UK at least, haha ๐Ÿ™‚

          Reply
  4. Well the easiest way to settle this is lets find someone to fund me a million and i can try and test this theory ๐Ÿ™‚ i will get back to you all from somewhere hot in a few yrs and tell you how the adventure went (ya dont know if ya dont try)

    Reply
  5. You forgot about one key thing. Inflation! Yes you may have another million after 20 years due to interest but the chances are it will only be able to buy a million pounds or less worth of goods due to inflation. Every year that inflation is above interest rates you will loose money.

    Reply
      • Yeah I’d like to know where 250k apartments rent for 3-5k, and who’s paying it… The rental game alawys seems lucrative (and an easy option) at a glance but when you look deep into it, it actually takes quite a chunk of work/dedication to make good profit from it.

        Reply
      • Where do you get 350k from James? Marty would spend his million on 4 or 5 apartments of 200-250k each, so he would have a million. If they produce rent of between 3-5k per month that means Marty is getting a gross yield of between 3.6% and 6%. That is very credible range (outside London, anyway). Of course you would have to set aside a good chunk of that for maintenance, letting fees and to recognise the fact that there will be times when one or more of the apartments are not let and so on. And, as others have pointed out, property needs managing, either by you or someone else. But you are still likely to beat bank interest rates by a large margin.

        Reply
  6. Well if you can’t live off a million pounds, then what are the majority of people going to do when they come to try and retire as most peoples pensions funds fall way short of that value !!!!!

    Reply
    • Will – this article is geared towards living off a million pounds from a young age. When people take their pensions they are much older, and therefore there money doesn’t have to last anywhere near as long so that’s why it’s manageable on a smaller amount. If you are wise, you could easily live off a million pounds – but most likely not just off the million itself, you’d have to carefully invest.

      Reply
  7. I’d start slowly by buying reduced price property from auction in my local area, reburbish and then long term rentals, but I would start my own Property Management Company so that as much could be kept, pardoning the pun, “in house” as possible and manage it myself.

    Reply
  8. Buy houses – rent them out. You get the rent and the house remains yours too.
    If you fear living alone whilst being rich then ‘live in’ with students who rent and have a wild time whilst earning money from them.

    Reply
    • Yep that’s always a good idea, but it’s not quite as straight forward as you think – there are many ways you can get caught out in the renting game & end up losing money. Still, if you have your head screwed on you’ll generally do OK. I don’t think as a millionaire you’d find me living in student accomdation though!

      Reply
  9. Interesting discussion! Exactly what I googled… I’m currently investing ยฃ1,000,000. Likewise to the comments above I chose to invest in property.
    Currently I have 5 houses each with 4/5 students renting. Bought at auction for around 70-80k 4 years ago, after 20k refurb worth 120k each. Combined rent ยฃ5600pm before expenses.
    I still have a lot of work todo to perfect and automate everything but eventually I won’t have to lift a finger. That’s when I’ll think about investing the rest of the ยฃ1,000,000 to improve my quality of life, maybe holiday rentals which unfortunately I’d have to visit every now and then to check on ๐Ÿ˜‰
    Everyone thinks once you get ยฃ1,000,000 you can sit back and relax, they’re wrong. Keeping hold of it and making it work for you takes a hell of a lot of effort patience and time educating yourself. I chose the property market because it’s low risk, capital invested grows in value, rental income is a hell of a lot better than any bank account (except a stocks and shares isa, but then you have the risk) but most reassuringly I won’t be relying on the knowledge of others to maintain my life for me.
    When I think of not having to work I think of living out the rest of my days not having to worry about survival and ultimately be self sufficient because once money doesn’t matter you still have the fear of loosing it and minimising that risk becomes your job, the most stressful one you’ll ever have but hopefully the last.
    The social implications of being out of the rat race are huge too and take a lot of adjusting to, unless you happen to have a group of friends who are all millionaires too, which for a newbie like me isn’t true.
    Your whole outlook on life changes most people in your life will become unrelatable, your best friend “Envy” who has propelled you to this point in life will suddenly become your worst enemy as you start seeing it in others eyes, I went from having an amazing social life to non at all because of that bitch ๐Ÿ˜€ Money changes you in sneaky bastard ways I now desire to live somewhere rich people live so I can be normal, blend in, have some friends and a life I enjoy.
    Currently the only person I know who has as much free time as I do is my Grandmother and she doesn’t like skydiving I doubt she’d make it to the top of Machu Pichu either so my hunt for sharing the good life with actual ppl I know continues.
    Thankfully I have a partner and family capable of face timing (thanks Steve!) otherwise I’d be the loneliest richest git you’d ever heard of haha!
    Living of ยฃ1,000,000, Is it possible? Very. Is working over with?……to be continued…

    Reply
    • I imagine you won’t see this reply as it’s 4 years since your post – but you could be me! I’m just about to receive 1million+ and want to get into property and investments. I’m also conscious what this would do to my ‘status’ amongst friends so will be keeping tight lipped about finer details. It would be great to have someone like you to bounce ideas off. This should be a time for me to celebrate but actually it’s quite a scary (and lonely) thing to be facing.

      Reply
      • It shouldn’t be a lonely thing to face because if you’re about to receive 1 million+ then the most sensible thing to do would be to pay a financial advisor for some help… That’s what they’re there for. You’d be silly to try to manage it alone, if you’ve never managed wealth like that in the past.

        Reply
  10. People get real!
    If you have 1,000,000 pounds you should take 100% buy bitcoin, transfer to brazil, invest in one of the large banks LCI (letter of credit Instruments) at .94% per MONTH !
    1 million pounds = R$4 million reais x .0094% per month = R$37,600 per month = 9388 pounds per month~!

    Reply
    • RE: Buying Bitcoins, your advice was sound. If as per your message someone had invested in Bitcoin at that time, they’d be paying around ยฃ500 per bitcoin (receiving 2000 Bitcoins). Today’s price per Bitcoin is ยฃ2871. So within the space of less than a year, their ยฃ1,000,000 would now be worth 2000 x ยฃ2871 = ยฃ5,742,000

      Better still if you invested in another Cryptocurrency at the time called XEM (NEM Blockchain) – Your ยฃ1,000,000 would now be worth ยฃ52,142,440.26p

      Reply
  11. Moaning about being rich, you are all mad, lonely and poor sucks a lot more than lonely and rich, Stop buying all the cheap houses and denying everyone else on rubbish wages from getting there own home. Having a million pounds would be fantastic could you live off it yes! just be realistic on what your buying. If you want a better standard of living then go and live in a emerging country were your money will go further it is not rocket science. Having a million pounds gives you freedom, freedom to choose, freedom from slavery freedom from having your wages raped by the tax man, you should be looking to embrace these things and stop bitching about minor issues that the money may or may not bring. I would suggest keeping it a secret though then if you just want a part time job at your local supermarket or want to go and re-train with skills that you actually want and not require then you wont get any stick for it, yep its not a real million but already feeling a bit jealous. Im off to do the lotto “fingers crossed” 1/2 a million tickets please?

    Reply
  12. Very true million pounds should see you free from employment if invested wisely but you will get very gelous friends so comments are wise keep mouth shut invest carefully and do it yourself why let someone else loss your money best luck

    Reply
    • Yep if you win that amount of money keeping your mouth shut is definitely a must else you will end up losing friends. People will begin asking to borrow from you & when you say no they will fall out with you because of course if you have a million you should borrow to everybody (or so they think)… Keep it quiet, invest wisely & stay humble would be the best advice.

      Reply
  13. I already rent out humble 3 terraced houses (cost ยฃ290,000 to buy all 3) and the NET ROI is 5.1% after all taxes. Beats any bank. The rents could even be pushed higher if I really wanted to.
    If I had ยฃ1M, it would not be that difficult to quickly (as in a few months) build up a portfolio that would give the same (or better) NET ROI. So we’re talking at least ยฃ50,000 NET income (after tax) each year.
    If you know what you are doing, the risks are totally manageable. Should you decide to sell up and have bought wisely (say you reach 60 years old and want to literally retire from even renting out houses!) then you can expect to realise more than the ยฃ1M – add on inflation and other possible increases to the value of the properties over the years.

    Reply
    • Hi Mike thanks for the comment – always nice to have an input from somebody that’s doing it first hand. Many people look at buying & renting out houses as something that will have you laying on a bright white beach with a Pina Colada with little to no effort, but as you’ve cleared up the income is actually a little more modest. Sure it beats the banks, and it’s a great option to look into, but unfortunately it’s not a magical solution as many people (dreamers) seem to think.

      Reply
  14. “A hedge fund is where a professional investor overlooks your money & creates a pool of investments for you”

    Unfortunate choice of word there. I think you meant oversee not overlooks

    Reply
  15. 15 years ago, I started a business in Blackpool selling Burgers and Hotdogs which did not do as well as people may think. I became homeless and had to rethink my route in life. Using what money I could earn, I began buying fruit machines and placing them in takeaways before gaming laws changed. I then started supplying other venues such as working men’s clubs, public houses and clubs. The business was run from home initially, but was growing and I eventually rented a small office and enlisted the help of a friend, shortly afterward I made him my business partner. Today we employ nearly 400 staff members, from logistics, technical support, area managers and call centre staff. We are a national brand and supply fruit machines, virtual slot, pub quiz machines, cranes and vending equipment. As a company, we maintain everything we supply and profits are essentially split between the company and venues, minus operational fees ect.

    I started the company from nothing, which now has a estimated value of ยฃ170m including assets.

    Remember guys, I came from nothing and during my early struggles became temporarily homeless. I picked myself up, lived in a bedsit in Blackpool before eventually renting a house. I now live in a beautiful three bed house in a private road, nothing exquisite but adequate and stunning enough for me, my wife and 2 children. I am patron of a few charities, and we look after and support many good causes. Yes I could buy a country estate with 40 bedrooms, but I don’t want that, it’s not me, I don’t want to forget my routes. I’ve been very lucky and very fortunate to have built up a very successful business and limited company. Anyone can do it, you do not need a million pounds to begin your venture, just a good head, a clever attitude, and a drive to win. I had all three and it paid off. Stay humble, never forget your routes, be generous along the way but not too generous, work hard and you will achieve your dreams. Sorry I have not provided my name, I don’t feel it is necessary.

    Take care guys x

    Reply
    • You’re right when you say you don’t need a million pound to start a venture, in fact the truth is you don’t need any money at all. In life time really does equal money so if you don’t have the money to invest it simply means you’ll have to invest more time to make up for it – it’ll be harder work without having money to “kick-start” things but it’s certainly possible. In my opinion investing time is the better option anyway as it will give you a better learning curve & make the rewards seem much more worthwhile. It’s easy to throw money at things and think that throwing more money at it is the answer when things aren’t working out, but when you’re investing time it becomes more obvious what is & isn’t working and what you *really* need to do to fix it. As you say, anybody can do it – it’s all about mindset.

      Reply
  16. If I’d won 1 million pounds, I’d stay in my job. After paying off my mortgage and all family debt I’d use the rest as a treat fund. My wage would pay the bills as usual but the saved funds would pay for family holidays and weekends away etc. Even at 10k a year, I’m sure it’ll last more than 47 years by which time I’ll be long gone and my kids can have what’s left.

    Reply
  17. Hi Dale
    I’m 47 years old, divorced with two teenage sons and I only work part time (minimum wage!). I dream of winning a million pounds, I found your blog after searched ‘could I live off 1 million for the duration of my life’ (45 years if I reach to age of around 95 years that is!) I am surviving off a low income now so being able to live of 20,000 a year would be a marked improvement. Would opening numerous accounts of max of 82,000 be a wise choice (after reading your blog), then just going through each account as time went on? (heavens listen to me its as if I’ve already won it, I wish). I would spend 100,000 to pay off mortgage and other debts first then live off the rest. I’m not one for doing anything risky and don’t want to be a landlord, would this be the way forward?
    I’ll keep playing the lottery !!!!!

    Thanks H x ๐Ÿ™‚

    Reply
    • Hey H, unfortunately I’m no financial adviser so I couldn’t comment as to what would & wouldn’t be right to do, I just wrote the post to try and figure out to see if it was actually possible. You certainly seem determined to win it so I sure hope it happens ๐Ÿ™‚

      Reply
  18. I bought a few houses and renovated them with the rent being my income, I ended up getting so bored that I went back to college and learned trades like electrical engineering 17th edition, plumbing, carpentry and bricklaying.

    I now do all the maintenance except for gas/boilers not gas safe registered yet, I also have a project property that I work on, wiring plumbing ect that keeps me busy.

    Reply
  19. I would by a house within my means and the best second hand vehicle I could find. I would Help my children out and then invest the rest wisely. I would get bored very quickly having nothing to do so I would find a job I liked
    and look into the company I worked for and if it was making good then I may invest But with options in my favour.

    Reply
    • That certainly seems very sensible – as the saying goes “don’t go broke trying to look rich”. I wouldn’t be bothered about flashy things either, it would just be nice knowing that you can live comfortably without having to worry and have the money there for a rainy day (and of course a couple of extra holidays!).

      Reply
  20. Whilst i think property is a good investment currently, i am not sure if it would last. There will come a time when a government with balls will finally put huge taxes on people with a number of houses in attempt to tackle how housing crisis. The thing is, there is no housing crisis…there are around 1.4 million homes sitting empty according to a recent government report. Yes, this includes housing people are waiting to move into where deals are done etc, but there are also a huge amount owned by people for rental purposes. This is what is keeping the housing market afloat.
    So what would i do if i had a million? House, new car, savings for the kids, and carry on working. A million is not a lot in this day in age.
    i would just come home from work, knowing my house is paid for, thankful i have a job, and that i have fall back if needed. Boring and risk free i know but its better than losing everything in such a competitive world.

    Reply
  21. I wanna make a million pounds. I think I would be able to do it. By the time I’m 30 I should be a millionaire hopefully! I commented on another post saying my goal is to make 100 million but forget that shizzle that’s too long. Live life and love life! A few millions will do HAHAHAHA.

    Reply

Leave a Comment

Ready To Launch Your Very Own Ultra-Successful Online Business?

...and begin transforming your ideas into income? ๐Ÿค‘

This website is reader-supported. If you buy through links on our site, we may earn a commission. Learn More