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Original poster

What would be your 'life changing' amount of money?

131 replies

Weddingpuzzle · 14/12/2023 12:00

What would be your life changing amount of money? I always read about and hear about people receiving a 'life changing' amount of money through inheritance, a lottery win or some kind of insurance payout and wonder how people measure it?

I have worked mine out and I have two figures - a life changing one off lump sum would be £11,912 - I would have £518 extra a month to play with and it would make a massive difference to my wellbeing (this is unsecured debt for my car and a loan leftover from divorce related destitution and it really stresses me out) I earn well though and our household income is good and I have a plan, so this will be paid off before I am fifty in 6 years.

To be debt free I'd need my mortgage paying off so £168,356 - this would be lifechanging because I could work less. Currently work FT, as well as freelancing and studying. You don't need to give approx circs/figures if you aren't comfortable - happy for you to say you'd need less or more than me. I am just interested to see if I am average?

OP posts:
littlelandlord7 · 14/12/2023 22:40

£5M

Enough to invest and grow our businesses, build a house and pay down some of our mortgages.

BIossomtoes · 14/12/2023 22:46

Not19foreverpullyourselftogether · 14/12/2023 22:36

£800k I think

£200k to pay off the mortgage
£100k savings (pension pot?)
£400k to set DC up for the future
£50k new car
£50k holidays over 5 years until DC are independent

You’d be better off swapping that pension pot and help for your kids.

CipherEcho · 14/12/2023 22:49

Around £250,000 Gbp, would be very much appricated.

PictureFrameWindow · 14/12/2023 23:39

£438,000 is the magic number for me, enough to buy the rest of our house.

KievLoverTwo · 15/12/2023 01:41

40k would be enough to change our life drastically to get us out of this damn rental and into our own home (with an emergency fund) immediately. It would make our lives better for at least a decade to come.

After that, I don't really care. I can't dream past getting out of here because it's all that matters. After that, we would be pretty well set up for the future anyway. Dream small, and anything else is a bonus?

UncleHerbie · 15/12/2023 02:14

£10mil. Retire early. Buy a house with land in the countryside but within 40 mins drive to our current city. Build an art studio for him, a craft studio for me, a horse for our girl plus stabling, newish car + insurance for our boy. Money in trust for both. Vintage camper van for us and a new car. World trip then tours of the UK in said camper van. Regular creative courses for both of us. Yes, we’ve discussed this 😂

Edit: Somewhat greedy but if you’re going to win, it might as well be substantial

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