How much money would change your life?

[whatsnewpussycat34]

My fave pass time is to fantasise about paying my mortgage off, help my family and work part time.

Obviously if I won millions on the lottery, my check list would look very different, but I need £300k to change my life.

what is your life changing sum and what do want to do with it?

£300k would allow us to top up our pensions and help my niece with some debt from when she was ill last year (she lives in the U.S.). Our mortgage is almost paid off so it’s fine.

@Sodthesystem it depends why you want it and whether you have a purpose in life.
If you love your work you will always be busy esp if it's creative .

I would have endless projects , seeing all the waterfalls in the world etc.

I would advocate for many many things and lobby...

Well, any significant amount of money as a win would be a delight, but to change my life, an amount enough to pay off my mortgage in whole or a significant chunk of it. To see my kids set up well for adult life would need more. We can dream!

As a trainee solicitor in the private client team I once worked on administering the estate of an elderly gentleman who’d died with no relatives he knew, though he’d left everything he had (a modest estate, on the face of it) to a nephew in Australia he’d never met. Credit to the young man, he came over to England to deal with this. On clearing the (small) house an interesting piece of ceramic was found in the loft. We had it valued and it wasn’t Ming dynasty but it was something else like that. Sold at auction for 7 figures. God only knows where the old chap had got it from but he clearly didn’t know it was valuable.

You need about ten times your current net worth to change your life in a tangible way, according to the author of The Wealth Ladder. So if you’re net worth is 25k, you won’t feel ‘significantly’ better off unless you suddenly come into 250k and so on… This is because it seems to cost exponentially more for just a bit more. Take a bow, inflation and taxes!

That's silly.

I have over 200k and I don't need 2m to change my life.

And it also depends on your definition of tangible. If I "only" had 10k as a savings, and gained another 10k, I'd then be able to afford breast reduction surgery. You don't get much more tangible than daily ease of movement!

As a fellow busty sufferer, you have my sympathies @TheNinkyNonkyIsATardis . I was quoting a book I had read. He was explaining why the relatively affluent professionals sometimes felt despite a pay rise, they still felt poor. It wasn’t the case in previous times but buying a ‘little more’ seems to cost a lot more these days. For example, for me to move up to a slightly bigger house in a slightly better area, I need to spend about double the value of my house. To obtain that, I need exponentially more in savings. Of course I can make my life better with just tens of thousands of pounds more (maybe). But to feel like I’ve moved into the next wealth class, I need 10 x my current wealth.

There is also a chapter asking if it’s really worth it which is refreshing!

Also the maintenance, heating etc. costs on a bigger house would be an ongoing additional expense.
I do think a third of our net worth would make a huge difference though.

@ContentedAlpaca I’m not even talking about a mansion. Just something 25% bigger than ours or a different layout (double fronted) in a slightly better area would cost a million more. And after a few months I can guarantee I wouldn’t feel the uplift was worth it. However if we had ten times more money, I could never have to worry about DC education costs again, would max all ISAs and pensions, allow DH to quit job he hates, I could go study something indulgent, we could buy several holiday homes dotted around the world etc.

A school mum lives this lifestyle and I’m sure they’re worth tens of millions (tennis court at home in prime area etc, hasn’t worked for years, luxury cars, lavish holidays). And yet she still pops to the same ordinary cafes for lunch as me and we can still have relatable conversations. It’s a different lifestyle to mine (they will be ten times richer than us) yet even then we our Venn diagrams intersect.

I wouldn’t want a massive lottery win. I am very happy with my life and I think huge amounts of money would ruin it.
I love my job and wouldn’t want to quit. I love our house, and my DCs love their state school and are going to do well academically, so I wouldn’t go private. I would like to go on more exotic holidays without feeling guilty about spending so much money.
I would like to pay off the mortgage, which is £100 and do some amazing holidays. So £200k for me please.

60k.

I could pay off what's left of my mortgage and then do the renovation my bathroom needs.

Needs to be a bit more than the £2.80 I won on Euromillions at the weekend!