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this post was submitted on 29 Sep 2024
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Sounds like he wasted all that money. A £500k bungalow? JFC with a million bucks I could buy a prefab house and a lot to plop it on and live the rest of my life until I inevitable drop dead from heart disease. Also RIP Bob. I wouldn't be surprised if whoever hit him didn't even realize it.
A million dollars spread out over 12 years is not amazing money.
It's not like he got a million dollars and could have bought the house outright. He took out a mortgage because he had a respectable middle class income for 12 years.
In the UK, that's pretty damn good money. If you are able to plan financially at all you can comfortably pay off a mortgage and live off that amount of money for the 12 years.
You could live off 35k forever and 40k probably forever.
Things would start dropping off more quickly after 40k
Odds are if you do 35k/40k for awhile you could also bump the amount eventually and remain in the forever or probably forever category.