If you could get ten years' salary in a lump sum, how would you spend it and why?

Question

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Answer 1

Best Answer - Chosen by Asker

I did, when I sold my share in a software company to my partners and "retired" (at 35).

At first it was great - no mortgage or bills to worry about, a quiet life in the country with no commute, and I could act out my fantasy of being a writer for a couple of years and treat myself to a few things I'd always wanted - a sports car, a telescope, an expensive camera, a road-trip holiday through the USA.

But I got depressed (not badly enough to need medical treatment, but enough to stop me enjoying much of life). I got scared, obsessed with "protecting" the rest of the money - and as a result living more cheaply and less well than I had when I was working. I missed the buzz of work and the company of my colleagues.

I'm now back at work, still with no mortgage and no real money worries but with a family who help me spend any cash that's left :-), and in many ways it's almost as if I'd never had the money. I'm in a less-pressured job, but there's enough activity to still get that buzz, and it's great to be amongst people again. So be careful what you wish for!

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Asker's Comment:

Amazing answer, thanks!

Answer 2

1 pay off mortgage
2 go private for knee/hip replacements for the wife
3 go on holiday

Answer 3

I will display my wealth by marrying 10 wives.

You ask me why?
Money in the bank don't make noise. My wives will be making noise.

I don't go to sites to avoid virus

Answer 4

It depends. will i have to save that money and make it last over the ten years or will i get the lump sum and still be getting what i normally get?

Answer 5

cadburys, a trip to the cadbury factory with my choc dunking buddy, the rest would be spent on limos to tesco and back!!

Answer 6

Invest it for the future. Pensions aren't up to much these days so son't be when I retire either.

And maybe have a holiday.

Answer 7

Better crystals and more powerful magnets for my time machine, although the ones I have now are good enough.

Answer 8

Ten years' salary isn't really that much these days. I could pay off the mortgage and go travelling for the next 10 years. Or I could pay off the mortgage and save the rest for a rainy day. However your ten years' salary is a lot different to mine and I would have to be more careful with my money I suspect.

Answer 9

I put it in some banks,continue working,or travel(if i over 30year old).or do s.th that make my parent happy after their dificult life.Agree?sincerly yours.

Answer 10

I would buy myself a newer car, as mine is starting to go in expensive places, and being disabled, I need my car big time, to not have to worry about it would be great. I would also get a power chair, although not confined to a wheelchair, there are times I do need one, it would mean I could start doing things with my daughter again, like museums, parks, days out, that kind of thing. I would spend a small amount doing bits of the flat up, but minimally, I enjoy finding a bargain but I need to be able to keep the place clutter free and clean. Beyond that, I would stuff the rest in a high interest account and try and add to it, being unable to work (I know, how could I qualify for ten years' salary, but its hypothetical...) means that I never have money for emergencies, as soon as I save some (a challenge on benefits, but it is possible) something comes alone, like the car breaking down and its all gone. I would be able to support the couple of local charities I occasionally support a bit more and just relax and have money to do nice things with my daughter. Like a coupld of days away in the Cotswolds with our beautiful dog, a power chair and miles to walk/roll through together. I would try and save a lot of it though. Nice thought.

Answer 11

I would pay it all to you if you promised to stop acting!

Only kidding, I would save some and spend the rest on my wife and child.

Answer 12

Ooh theres a question! Put it towards a house i suppose. Oh and get a boob job and a face lift. I'm heading 40 but i'm gonna fight it all the way! AARRGH!! ;-) Hey i'd invite you to my big bad as$ party too.

Answer 13

I would, buy a house. Nothing lavish just a little quaint one in the city. I would go on holiday. That would prob use up my 10 year salary! How bad is that. But my house would be paid for at least!

I think some people are forgetting 10 x average salary is not actually that much compared to house prices these days!

Answer 14

A sausage roll and a can of coke from greggs.

Answer 15

Aston Martin db9 - Why? Because I would have an Aston!

Answer 16

Well being a housewife, we don't get a salary as such, but if I came into some money I would make sure my Children & Grandchildren are comfy then spend the rest,

Answer 17

As i'm retired,(the avatar's wishful thinking!),it wouldn't amount to much,but if i could have it tax-free,i'd just make sure i had enough to be safe from worrying about bills,& unexpected extras, then help as many as i could of the people i know in the same boat , because i know how bad it feels...& retirement should be good,or at least worry & pain-free.

Source(s):

Life!

Answer 18

I would use it as an excuse to plug my latest movie, which incidentally is a not a 'black comedy' just a sick one....


Call me cynical,if you like, but to all those who gave me the thumbs down, don't you find it odd that this 'member' wasn't one until he had a film to plug???

Answer 19

Well I'm still a student so I don't get a salary, but I would probably get a place in Majorca, I love it there and I would set up a publishing buisness for young authors who don't have agents, because it is rather unfair at the moment that people without agents cant get published or find it very hard, it would be nice for a change to have a publishers that only execpt un-agented manuscripts rather than companys that see the author hasn't come through a littery agent and just chuck their manuscript in the trash without so much as a glance or second thought.

Answer 20

Id pay off mortgage then buy a field buy new car send my son to private school x

Answer 21

no to the clip thanks......

i`d defo either but house or flat or big big deposit - and small mortgage - most important thing right?!?!.......

then i`d get a mortgage for a hotel - separatly - my fiance would love to own and run a hotel - but still have the hide away to retreat to -

and she would make it profitable so no worries there - then I`d buy myself a set of technics decks and buy loads of tunes for my spare time - as music is big influence on my life -

then life comfortably knowing my fiance is sorted to....

few gifts for family and friends too...

Answer 22

I'd go back to Uni. I'd be a pretty rich student. Do a degree in Anthropology and Archaeology and then do some Indiana Jones type adventures. Why? Because I realised it's what I should have done after school instead of dossing around. Why, are you offering? Do I win £200,00?

Answer 23

Speculate to accumulate!

I'd put the vast majority in the bank, where it would earn interest.

The rest, about 10% or so, I'd invest in stocks and bonds.

Answer 24

I would pay off my existing debt which would leave me with £95k and then put a BIG deposit on a house.

But then after reading your question again I take it I wouldn't get paid for ten years?? If so I would invest 9 years salary and keep a years in my bank account and live off that, then the next year take a years out and so on and so on.

Answer 25

Pay off mortgage
get married
go on a round the world best ever honeymoon
give some to family and charity (only small bit the latter!)

Answer 26

On property, in the right area to sell/rent. Why? Make money.

Answer 27

Paying off the student debts

Answer 28

Depends what my salary was; if I get £10k annually, I'd use it to tie up some loose ends. Maybe I'd take a few years out to bike round Europe - I drew up the plans, then realised I really didn't have the means to do it. I might use it tide me over whilst attempting to edit my book and get it published, promote it, etc; the first draft was written in calmer and easier times. To publish is a hard dream to keep alive. These sorts of unfinished projects have made me into the person I am; it'd be nice to see a couple of them through at last.

However, if I was on £100k per annum, I'd quit full time employment - £1,000,000 could sustain my current lifestyle. Instead, I'd do some freelance work - journalism, maybe some scripts - whilst enjoying my life. I only get one shot.

Answer 29

1. Buy anything I want! Clothes, stuff, junk....
2. Put some in the bank. In case I spend it all on one go. =]
3. Go to the places I want to go - Egypt, Carribean islands, japan....

Answer 30

1. Pay off mortgage
2. Set up funds for my children's further education or buying first flat
3. Go travelling and see parts of the world that I wouldn't otherwise have the chance to

Answer 31

I'd buy a piece of land and build an eco-house, totally self-sustainable.