What would you do...
- Thread starter Kai
- Start date
Kai said:
It can get you a nice sized house in Texas for sure. :biglaugh: IIRC a 3/2/2 1200sqft(?) will run about $120K.
I didn't really read everything, but....follow everyone else's advice.
I know the first thing I'd buy...
Ariel Atom
second would be a house (yep, nice sized house in Texas is cheap)
after that I'd try and live normally...
Ariel Atom
second would be a house (yep, nice sized house in Texas is cheap)
after that I'd try and live normally...
Living in another country = not going to happen!
Saving it (or the majority of it) seems like the better option.
Saving it (or the majority of it) seems like the better option.
Says poodles - oblivious to the fact they'e all over the place here 
I've spent today looking at high interest deposit bonds...provides a safe investment and decent return - simply because a financial downturn is apparrently inevitable and house prices are likely to fall - so property may not be the most intelligent idea...
I've spent today looking at high interest deposit bonds...provides a safe investment and decent return - simply because a financial downturn is apparrently inevitable and house prices are likely to fall - so property may not be the most intelligent idea...
Honestly? I'd put at least part of it in an overseas interest bearing account, if such a thing is possible.
Why?
I'd be worried that in say.. 10 years, big revolution in Britain = financial ruin. :dunno:
Why?
I'd be worried that in say.. 10 years, big revolution in Britain = financial ruin. :dunno:
Anyway that you can get the whole inheritance? I know here in the states they have lawyers for that. If you can do that, I would definitely put it in savings and live off the interested. I hear www.ingdirect.com is a great place for savings.
If you can't do that, I would talk to an advisor for sure. And like SC said, not one that works off commission.
If you can't do that, I would talk to an advisor for sure. And like SC said, not one that works off commission.
Well, inheritance tax only applies for amounts over £250,000 - any amounts released under that are tax-free. The reason its staggered over every other year, is so that the individual payments arent counted as the same amount of inheritance. As the money is substantially more than 500,000, breaking up into small, bite size pieces ensures that:
1) I cant blow the lot on hookers and cocaine
2) The taxman can't get his grubby hands on it
3) Ensure that any investment made won't be terminal - ie, if i lose all 96k, then i'll still have 5x96 left over, and i'd learn from any mistake (which i WONT be making!)
What sucks, is that the inheritance tax laws were changed this year to raise the threshold (not sure as to what amount), but because of when all this arrangement took place - it's still under the OLD laws....stupid, eh?
1) I cant blow the lot on hookers and cocaine
2) The taxman can't get his grubby hands on it
3) Ensure that any investment made won't be terminal - ie, if i lose all 96k, then i'll still have 5x96 left over, and i'd learn from any mistake (which i WONT be making!)
What sucks, is that the inheritance tax laws were changed this year to raise the threshold (not sure as to what amount), but because of when all this arrangement took place - it's still under the OLD laws....stupid, eh?
Nope - because its from trust, and its not legally classed as a wage - which has its benefits, but also its downsides - ie, it wouldnt count as income if i wanted to get a mortgage.
Will you be taxed on any interest/income you make on your investments, or is all that exempt also?
Money is the root of all EVIL, send it all to me quickly, and I will get rid of the blasted stuff for you! :evil2:
Just kidding...but seriously, send it to me.....
Invest in property. Even if it isn't the property you want to end up with, it is a step in the right direction...and I agree with getting a swiss account or something. I personally would put 1/4 of it into somekind of semi-safe decent yield investments, 1/4 of it into property, or saving for property, 1/4 of it into an oversea's account (never know when you might need to get out of the country, and need assets), and live off the rest of it. Just my no sense worth.....I mean 2 cents worth. LOL
Just kidding...but seriously, send it to me.....
Invest in property. Even if it isn't the property you want to end up with, it is a step in the right direction...and I agree with getting a swiss account or something. I personally would put 1/4 of it into somekind of semi-safe decent yield investments, 1/4 of it into property, or saving for property, 1/4 of it into an oversea's account (never know when you might need to get out of the country, and need assets), and live off the rest of it. Just my no sense worth.....I mean 2 cents worth. LOL
Kai: My suggestion was half serious dude
You like to cook and people will always have to eat!
(If not a KK then some other sort of restaurant deal I did it in another life a long time ago when I was a kid it's a good way to make a living)
You like to cook and people will always have to eat!
(If not a KK then some other sort of restaurant deal I did it in another life a long time ago when I was a kid it's a good way to make a living)
+1 on the financial planner.
Get your money invested & squared away. Hell, even start up something to get the kids through grad school. At some point you'd have enough money towards the end when you're retired for a few drinks on some piece of land that isn't underwater. :icon_razz
Get your money invested & squared away. Hell, even start up something to get the kids through grad school. At some point you'd have enough money towards the end when you're retired for a few drinks on some piece of land that isn't underwater. :icon_razz
