How to have loads of money as you get old.

dewsbury · 22-03-2008 7:58pm #1

Yes folks, can it be too good to be true.

Guaranteed large regular lump sum income as you get older - for free !!

Here's how;

1. Get 12 friends together.
2. Each one makes their will and leaves 50,000 of it to the group as a whole.
3. According as each friend dies, everyone else gets a nice bonus!

I know there are flaws in the above but doesn't it make you think....

It might work best for single , property owning people.

FernandoTorres · 22-03-2008 9:04pm

Hate to be the first person to die though!

Oracle · 23-03-2008 12:06am

Yeah great idea! It's been around since the 1600's, it's called a tontine. There's just one slight snag, it's illegal, due to the tendency for group members to murder each other. Still that doesn't stop you from organising your own tontine on the quite I suppose. Good luck (you'll need it!)

portomar · 24-03-2008 6:55pm

also need to find friends with 50grand in assets! if they own property in ireland could work out worse than you think!:D

is_that_so · 24-03-2008 7:05pm

Don't forget the CGT and the contested wills from other family members.

dewsbury · 24-03-2008 8:59pm

Oracle wrote: »

Yeah great idea! It's been around since the 1600's, it's called a tontine. There's just one slight snag, it's illegal, due to the tendency for group members to murder each other. Still that doesn't stop you from organising your own tontine on the quite I suppose. Good luck (you'll need it!)

Thankyou Oracle,

You truly are an Oracle.

How to have loads of money as you get old.

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