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What would be a "life-changing" sum of money for you?

131 replies

mauvish · 28/01/2024 18:30

Traitors s1 made me wonder this. The finalists all talked about the prize (somewhere betwen 35-40K each) being a "lifechanging" amount and I wondered, would it really change their lives? Or is it hyperbole?

So then I wondered what amount of money truly would change a person's life? Obviously it depends so heavily on which stage of life you're at, whether you're in debt, etc etc - but how much money would actually be LIFE-CHANGING for you, as opposed to just "nice to have and treat myself and family"?

Me - I am very lucky in that I'm older, I don't have any real "needs" that would be fixed by a particular sum of money, no desire to move house etc, so I don't really have a "life-changing" amount. (I can think of plenty of things I'd treat myself and family to if I won a million quid but that's different in that daily life wouldn't really change!) But in the past, it would utterly have changed my life if I'd suddenly got enough to be able to pay off the mortgage and work part-time instead of full time for the rest of my career. I suppose maybe now, if I were in that situation, somewhere between £250-500k? A lot more than 40K!

OP posts:
Justfinking · 29/01/2024 09:40

user14699084789 · 29/01/2024 09:17

When I was a kid, (I’m pretty old) a million pounds was an unimaginably large sum of money! Now round here it only buys a very ordinary house…
I’d say 10m is now the old 1m!

Agree. Where I live a million would get you a below average house. If you got a decent house here, you'd probably still need a small mortgage. Its quite depressing!

Nofilteritwonthelp · 29/01/2024 09:40

Menomeno · 28/01/2024 20:47

£14M would be £700,000+ a year in interest currently.

Ah then prob 5 will be ok! 🙃

Snugglemonkey · 29/01/2024 09:43

I think 2.5 million would change my life. 1 million would make a difference, but not be life changing.

SnapdragonToadflax · 29/01/2024 09:48

150k would pay off my mortgage, so that would be lovely and would mean we could take it easy in terms of careers, work part time etc. But realistically, if we could afford to pay off the mortgage I would actually want to buy a bigger, nicer house. So maybe more like 500k, to buy a 700k-ish house outright (would be for a four bed with a decent garden).

However, that's at my stage of life - settled middle-age. If I were 25 then 40k would have been life changing, because that would have been the deposit for a mortgage. I would have saved five+ years rent money, and be building equity sooner.

Fridaysgirl17 · 29/01/2024 09:49

To be life changing I'm thinking 1.5 million to 2 million, I'm a single mom so we could buy our own home a nice 3 bed with a garden, nothing outrageous, but it would be ours

Talkamongstyourselves · 29/01/2024 10:00

£300-£500k would do me. I could work part-time for a couple of years and then retire.

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