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Why would any one save 1 million pounds when they can borrow and invest what they have and earn lots more?

budaatum:
Why would any one save 1 million pounds when they can borrow and invest what they have and earn lots more?

answer the question. No need introducing your own questions

HEAVEN4444:
answer the question. No need introducing your own questions

Its a silly question! Only a person with no knowledge will work with the intention of saving a million pounds.

In UK and most places, you don't even save to buy a house, so why save to have a million pounds?

budaatum:
Its a silly question! Only a person with no knowledge will work with the intention of saving a million pounds.

In UK and most places, you don't even save to buy a house, so why save to have a million pounds?

What's silly about it ? Stop trying to sound smart because you are not. Yeah white people think the way you are stating but immigrants who plan to retire back home save heavily for as long as they are working. So answer the question and stop trying to sound smart

HEAVEN4444:
What's silly about it ? Stop trying to sound smart because you are not. Yeah white people think the way you are stating but immigrants who plan to retire back home save heavily for as long as they are working. So answer the question and stop trying to sound smart

Immigrants who come to UK, even if they plan to retire back home, will still invest where they are instead of saving. After all, if they earn £100k per annum and save it all, they'd still need 10 years to accumulate a million, during which they'd pay rent which could have been mitigated with a 5-7% mortgage to buy a house which would have likely increased in value in 10 years.

But please, ignore my smart and go abroad and save a million and watch inflation consume it. And that's if you save that much in 50 years, after which you'd likely find returning home impossible because you'd be used to your abroad comforts.

budaatum:
Immigrants who come to UK, even if they plan to retire back home, will still invest where they are instead of saving. After all, if they earn £100k per annum and save it all, they'd still need 10 years to accumulate a million, during which they'd pay rent which could have been mitigated with a 5-7% mortgage to buy a house which would have likely increased in value in 10 years.

But please, ignore my smart and go abroad and save a million and watch inflation consume it. And that's if you save that much in 50 years, after which you'd likely find returning home impossible because you'd be used to your abroad comforts.

you are talking rubbish. Most immigrants don't have the credit score to get a mortgage. Most immigrants in the UK aspire to get council houses. That's as far as 90 percent of them go in the housing ladder so that they can start saving heavily because council rent is manageable than private rent. So all these points you are making reeks of someone who has never crossed muritala Mohammed airport before. Have you ever been on an aeroplane before ?

Theoritically, if you are a high earner, saving 25k pounds every year may be possible.
But life is not just about savings, it is more living your everyday life to the fullest.
If you live in certain western countries your saved up Million pounds may be of little need and use because there are some medical treatment that cost more than a Million pounds, which your insurance is obliged to pay for you, why bother yourself ?. There are equally reliable affordable insurances for different emmergency situation you may find yourself , having insurances is a big security.

OkanlawonB:
Theoritically, if you are a high earner, saving 25k pounds every year may be possible.
But life is not just about savings, it is more living your everyday life to the fullest.
If you live in certain western countries your saved up Million pounds may be of little need and use because there are some medical treatment that cost more than a Million pounds, which your insurance is obliged to pay for you, why bother yourself ?. There are equally reliable affordable insurances for different emmergency situation you may find yourself , having insurances is a big security.

ahhh you miss the point, see if you retire at 65 and you have a million pounds saved up, you can travel the world and enjoy yourself for next 20 years. If you don't have anything saved up ? You start calling your children for loan if you want to treat yourself .

HEAVEN4444:
you are talking rubbish. Most immigrants don't have the credit score to get a mortgage. Most immigrants in the UK aspire to get council houses. That's as far as 90 percent of them go in the housing ladder so that they can start saving heavily because council rent is manageable than private rent. So all these points you are making reeks of someone who has never crossed muritala Mohammed airport before. Have you ever been on an aeroplane before ?

By the time you save a tenth of a million, you'd definitely have a credit score, and your bank would be calling to offer you investment advice and loans.

Most immigrants in the UK do not aspire to get council houses! They know that unless they have special circumstances they could be waiting up to 10 years, which is why in fact most aspire to get a mortgage and buy a house of their own and pay off in those 10 years.

As for your Murtala Airport, born in Lewisham and lived in UK longer than you've probably lived.

Have you ever been to UK?

HEAVEN4444:
ahhh you miss the point, see if you retire at 65 and you have a million pounds saved up, you can travel the world and enjoy yourself for next 20 years. If you don't have anything saved up ? You start calling your children for loan if you want to treat yourself .

If you retire and have investments, you'd continue to be paid long after you retire and died, and your descendant children will continue to benefit!

budaatum:
If you retire and have investments, you'd continue to be paid long after you retire and died, and your descendant children will continue to benefit!

investments don't pay that much. You want to sit down and be waiting for rent from a tenant ? Or be waiting for stock dividend payout ? 😅😅😅😅😅😅😅😅 CASH IS KING 👑

budaatum:
By the time you save a tenth of a million, you'd definitely have a credit score, and your bank would be calling to offer you investment advice and loans.

Most immigrants in the UK do not aspire to get council houses! They know that unless they have special circumstances they could be waiting up to 10 years, which is why in fact most aspire to get a mortgage and buy a house of their own and pay off in those 10 years.

As for your Murtala Airport, born in Lewisham and lived in UK longer than you've probably lived.

Have you ever been to UK?

credit score is not based on your savings. Yet you claim you have lived in the UK

HEAVEN4444:
Most immigrants don't have the credit score to get a mortgage.

This is really ignorantly, and can only come from a person who really hasn't been in Murtala Airport!

How the heck can you possibly save £25k per annum and not have the credit score for a mortgage?

Are you dealing drugs and therefore can't show evidence of your income perhaps, or do you just know nothing at all about credit scores?

HEAVEN4444:
credit score is not based on your savings. Yet you claim you have lived in the UK

What is credit score based on, please educate me.

budaatum:
What is credit score based on, please educate me.

credit score is based on your repayment history and having your name established in the voters register. Have a great repayment history. Whatever you buy say they give you a credit line in Russel and Bromley shoes on bond street, make sure you pay back on time. Build a great repayment history

budaatum:
This is really ignorantly, and can only come from a person who really hasn't been in Murtala Airport!

How the heck can you possibly save £25k per annum and not have the credit score for a mortgage?

Are you dealing drugs and therefore can't show evidence of your income perhaps, or do you just know nothing at all about credit scores?

what the heck ? Many people got great jobs but bad credit. Bad repayment history. They are not qualified for mortgages

HEAVEN4444:
what the heck ? Many people got great jobs but bad credit. Bad repayment history. They are not qualified for mortgages

If you have bad credit you must not have saved anything!

HEAVEN4444:
credit score is based on your repayment history and having your name established in the voters register. Have a great repayment history. Whatever you buy say they give you a credit line in Russel and Bromley shoes on bond street, make sure you pay back on time. Build a great repayment history

You'd have likely done all this if you were saving 25k a year!

budaatum:
If you have bad credit you must not have saved anything!

wow you are sounding more and more unintelligent. Listen one of my baby mamas is dealing with this problem right now. Wants to get a mortgage but she can't. Great job and tonnes of money in the bank however when she was younger she destroyed her credit. Was reckless with it. Didn't think it would catch up to her. And so this post of yours is doodoo

budaatum:
You'd have likely done all this if you were saving 25k a year!

which is why I am asking the question but you keep ducking. The question is can you save 1 million pounds over a 40 year career in the uk

HEAVEN4444:
wow you are sounding more and more unintelligent. Listen one of my baby mamas is dealing with this problem right now. Wants to get a mortgage but she can't. Great job and tonnes of money in the bank however when she was younger she destroyed her credit. Was reckless with it. Didn't think it would catch up to her. And so this post of yours is doodoo

Destroyed her credit, so has shown an inability to manage money.

Would you like to explain to me how she will now save a million pounds?

budaatum:
Destroyed her credit, so has shown an inability to manage money.

Would you like to explain to me how she will now save a million pounds?

your post makes no sense.so cuz I was a crazy youth means in future I can't get my act together and become rich ? Wow

Thats 1.8 billion naira. What do u need that kind of money for Less than 1% of the population have that kind of money. Make una no dey ask mumu questions abeg

ednut1:
Thats 1.8 billion naira. What do u need that kind of money for Less than 1% of the population have that kind of money. Make una no dey ask mumu questions abeg

1 million pounds is a good amount of retirement money . I think so. It's nothing really. Some people would say it's chump change

HEAVEN4444:
which is why I am asking the question but you keep ducking. The question is can you save 1 million pounds over a 40 year career in the uk

The answer is no. And you'd be stupid to try when you can borrow and invest.

Your first 25k is a reasonable 10% deposit on a house in some places, and the rental and appreciation value would get you to a million much sooner than saving.

But please ignore me educating you that the wise invest instead of save, and update me after you've saved for 40 years.

HEAVEN4444:
your post makes no sense.so cuz I was a crazy youth means in future I can't get my act together and become rich ? Wow

Getting your act together will include getting your credit score sorted, if you have a brain at least, and can save 25k a year.

budaatum:
The answer is no. And you'd be stupid to try when you can borrow and invest.

Your first 25k is a reasonable 10% deposit on a house in some places, and the rental and appreciation value would get you to a million much sooner than saving.

But please ignore me educating you that the wise invest instead of save, and update me after you've saved for 40 years.

borrow and invest ? You think banks in the UK just borrow every ton dick and harry money ? You will be lucky to get 1000 pounds from them 🤣🤣🤣🤣🤣🤣

HEAVEN4444:
1 million pounds is a good amount of retirement money . I think so. It's nothing really. Some people would say it's chump change

the average person with pension abroad who goes back to retire home can survive on the basic pensions usually about 800-1200 dollars a month. Where u wan see 1m pounds haba.

My uncle in the uk has two houses paid off. If he sells both i estimate he walks away with 300-350k. He has been in uk since the 80s sha. Wants to retire back home the wife no gree

budaatum:
Getting your act together will include getting your credit score sorted, if you have a brain at least, and can save 25k a year.

you can get your credit score sorted if you are a legal citizen. What about the millions of Nigerians working under the table in the UK just saving and saving till they get found out and deported ? You see how you are being myopic with your posts

HEAVEN4444:
borrow and invest ? You think banks in the UK just borrow every ton dick and harry money ? You will be lucky to get 1000 pounds from them 🤣🤣🤣🤣🤣🤣

With your first 25k saved, banks will be begging you to borrow because that's how banks make money, by lending to those who can pay it back!

Your 25k is good collateral for any lender.

ednut1:
the average person with pension abroad who goes back to retire home can survive on the basic pensions usually about 800-1200 dollars a month. Where u wan see 1m pounds haba.

My uncle in the uk has two houses paid off. If he sells both i estimate he walks away with 300-350k. He has been in uk since the 80s sha. Wants to retire back home the wife no gree

what's your point though ? So the answer is that it is impossible to save 1m in 40 years working. Ok