Re:Ask HN: What would you do with a million dollars today?
by LandR on Tuesday March 29, 2022 @11:55AM
(#30844217)
I'm in the UK.
40 years old. A million pound would last me the rest of my life.
Assuming I earn ~£50k a year, lets say £35k a year after tax and deductions, for the next 20 years, that comes out at about £700,000 after tax income. I live comfortably right now off that.
That still leaves me £300k.
My outgoings are pretty small, and will be drastically smaller in 5 years or so when the mortgage is paid off.
If you give me a tax free million today, I would quit my job tomorrow, as that's more than I'll earn for the rest of my life.
That's not counting money I already have in savings too.
40 years old. A million pound would last me the rest of my life.
Assuming I earn ~£50k a year, lets say £35k a year after tax and deductions, for the next 20 years, that comes out at about £700,000 after tax income. I live comfortably right now off that.
That still leaves me £300k.
My outgoings are pretty small, and will be drastically smaller in 5 years or so when the mortgage is paid off.
If you give me a tax free million today, I would quit my job tomorrow, as that's more than I'll earn for the rest of my life.
That's not counting money I already have in savings too.