To ask how you would spend a salary of £300k?

[iwishiwasafish]

In a similar vein to “what would you do if you won the lottery” … how would you spend an ongoing salary of £300k per year?

That’s £25k per month before tax.
£14,180 per month after tax.

Housekeeper/ chef

Buy a house and get a cleaner for it

I would have a housekeeper/cleaner everyday.

I would have a beauty or hair treatment each week on rotation and probably a weekend away each month.

I’d move to a larger house, a little further out of town and have loads of animals .

@westr

If you earn 300k you can't put 10% or anywhere near that into a pension.

I thought the annual limit on pension contributions was £40k pa?

Our take home was slightly higher than this when we lived overseas. We also had very few expenses as employer paid school fees, rent, utilities, car, driver, healthcare etc.
What did we do?
Went on holiday at lot and saved a lot to retire at 53.

Yes sorry I meant without paying tax. Top level is 312 - above that you can only pay 4K in with tax relief

I'd have a housekeeper who could help with childcare whilst I was at work.
Might have another holiday a year,
Donate a bit more to the food bank than o currently do.

@ShanghaiDiva

Our take home was slightly higher than this when we lived overseas. We also had very few expenses as employer paid school fees, rent, utilities, car, driver, healthcare etc. What did we do? Went on holiday at lot and saved a lot to retire at 53.

See, I would save enough on that salary to retire at 25.

Well, not retire, but to live entirely independent of earnings.

@westr

Yes sorry I meant without paying tax. Top level is 312 - above that you can only pay 4K in with tax relief

But then as your employer contributions are also capped they pay you more salary to make up for it

@thecatsthecats
Sadly, not on that salary at 25!
Took a while to clamber up the greasy pole...

Outsource everything, throw money at the problem.
Put it this way your not at home to enjoy it, your not working a 9-5 or having weekends or your phone off on holidays.
This is if you earn that type of money in a professional / corporate / industry setting you are putting a shift in and the pressure and expectation to perform is huge.
A blessing and a curse I guess!

Our net household income is 11k pcm:
2.7k mortgage (4 bed terrace, London)
3k nanny
3k school/nursery fees

Then cleaner, commuting, groceries, charities, insurance, gym, pension, takeaways, dinner out, savings.

Of course it’s unjustifiable in the grander scheme of things. I come from a very ordinary background (grew up with mum on benefits) and I haven’t forgotten what it was like. Husband works 80+ hours a week and I must be on 50+ hours (although am more flexible and home for dinner, bath, bed with the children every night)

To answer the actual question, with that extra to make up nearly 15k pcm, I would start an investment portfolio. Not something I have ever got around to putting in place.

No idea but I would definitely hire a house cleaner full time 😃

Yes it’s a lot of money to earn but once you get used to spending more, obscene as it sounds it’s human nature to want better holidays etc..

Id enjoy it for a few months and fully indulge and be silly, then I'd do a basic dad and accrue quickly then live off the capital.

Cry about how much tax they were whipping off me 😭😂

Id go part time 1 day a week will still give us an amazingly comoftable lifestyle.

@Ibizafun

Yes it’s a lot of money to earn but once you get used to spending more, obscene as it sounds it’s human nature to want better holidays etc..

We had a slightly different view. We knew that income would not last forever so we spent more on some things eg holidays in Australia, NZ etc but no cleaner and always looked for the best deals on flights and accommodation.

Well, I'd have to save up a bit, but over the following few years;

Detached home near DP's family. All secure and fully accessible.

Decent motor to cope with the tracks and terrain.

Animals. Lots of animals. And people to help with them.

Appliances that look as good as possible and work like a dream.

A huge glasshouse and pond large enough for swimming in.

Heated pool. Full fitness room. Steamroom and sauna.

A cleaner, windowcleaner, gardener and personal trainer/qualified physio.

A pantry large enough to store sufficient food to get us through about six months at a time and regular deliveries of fresh produce.

Cooking lessons for DP.

Bespoke tailored clothes and shoes.

I would plan for an early retirement. Get a lot of financial advice.

Then with a much smaller monthly budget after my huge pension investments I would make my working life as comfortable as possible, cleaner, ironing device, meal service, nice car.

We're on a 3rd of that, and it's already plenty. on that much, tbh, wd would either go into savings or tutors.

I wouldn't have time to spend it or to enjoy the things I'd want to buy if I were earning that in my field.

So I'd probably save it up for six months and then fake my own death and hide in the mountains.

I’d live frugally for a couple of years, maybe with some extra help with housework, then Chuck the lot into crypto for the next bull run and be a millionaire, retire, buy nice house etc