How do you spend £143 Million?

[Centurion07]

Rosscow said:

That £64,000 a year ends up at under £52,000 a year. Which is a lovely tax free income. But is it enough to make you give up work for good?

I'm pretty damn sure the majority of the population of the UK would disagree.

[Countdown]

Centurion07 said:

I'm pretty damn sure the majority of the population of the UK would disagree.

This is PH - that's what we pay our butlers

[Cupramax]

Prices going up to £2.50 next week for the Euromillions along with a big fanfare of extra prizes to deflect the price rise and the fact they increased the odds by adding an extra digit to the lucky stars.

[Greg_D]

Countdown said:

Centurion07 said:

I'm pretty damn sure the majority of the population of the UK would disagree.

This is PH - that's what we pay our butlers

don't be silly, who wants to live like a hermit... the reality of living even vaguely nicely dictates spending in excess of that number.
school fees for a couple of kids is £25k, depreciation on a nice car £10k/annum - with her car as well that's £45k before you've even started being 'flash'.
holidays, eating out, buying things, hobbies.... the list never ends, and there isn't a rolex or a velvet suit in sight.

Not everyone would want to live like the monty python yorkshireman sketch if they won the lottery, you'd need way more than £3m to live on if you weren't geriatric. That's not 'powerfully built PH director' speaking. just a reflection of reality.

[croyde]

Not long ago I heard the figure of £8 million is needed to give up work and have fun.

If you like central London that wouldn't buy you much house wise.

[Freds]

croyde said:

Not long ago I heard the figure of £8 million is needed to give up work and have fun.

If you like central London that wouldn't buy you much house wise.

At 52, with 3 adult independent kids and no borrowings I wouldn't lift a finger again with 8 million.

[Centurion07]

Greg_D said:

Countdown said:

Centurion07 said:

I'm pretty damn sure the majority of the population of the UK would disagree.

This is PH - that's what we pay our butlers

don't be silly, who wants to live like a hermit... the reality of living even vaguely nicely dictates spending in excess of that number.
school fees for a couple of kids is £25k, depreciation on a nice car £10k/annum - with her car as well that's £45k before you've even started being 'flash'.
holidays, eating out, buying things, hobbies.... the list never ends, and there isn't a rolex or a velvet suit in sight.

Not everyone would want to live like the monty python yorkshireman sketch if they won the lottery, you'd need way more than £3m to live on if you weren't geriatric. That's not 'powerfully built PH director' speaking. just a reflection of reality.

[750turbo]

Hmmm, well for a a start, I would be keeping a check on the Road Tax (I know, I know...) status of my nearest neighbours cars...

[Greg_D]

Centurion07 said:

So you disagree. How so?

[DuraAce]

Greg_D said:

Centurion07 said:

So you disagree. How so?

I'd live very nicely indeed on £3M without every working again. I imagine most people away from the twisted reality of PH would feel the same way.

[Centurion07]

Greg_D said:

Centurion07 said:

So you disagree. How so?

If you don't consider the lifestyle afforded you by an annual income of £150K to be nice enough for you to give up work then I doubt you will truly understand the concept of being extremely wealthy in the most important commodity of all: time.

When was the last time you heard anybody say with their dying breath "I wish I'd spent more time at work"?

Sure, you won't be hacking a Lambo round europe for months at a time but to say 3mill is not enough to have a nice lifestyle is ridiculous.

[DaveGoddard]

I would probably...

Get my race licence and learn how to race cars properly (the only thing I have ever wanted to be since childhood is a racing driver, so this would be top of my list) and compete in a series of my choice.
Buy a small house somewhere reasonably remote.
Visit friends in America and Australia.

This may sound odd, but beyond that I genuinely don't know what I'd do. I'd probably end up giving all the rest away to charity.

[philthy]

Look after Friends/Family.
Travel the world (not in expensive jets or hotels), and spread it around.

That said, an Audi R8 V10 would feature somewhere in these travels.

[robinessex]

Just as interest, what sort of investment return would you get on £143M. 5%? That's assuming a fairly safe investment, not wild gambling on the Forex market

[Adam B]

robinessex said:

Just as interest, what sort of investment return would you get on £143M. 5%? That's assuming a fairly safe investment, not wild gambling on the Forex market

Today a fairly safe investment (AAA bonds) will get your 2% gross, so about 1% net

if you knew where to make 5% safely today, you would make yourself £143M pretty bloody quickly

[silverthorn2151]

at 1% net its still about £120k a month interest.

I could live on that.

[williamp]

assume the house, cars, family are all taken care of, what to do with the rest and my time?

Start my own le mans team. But only using British cars, british team and british drivers. Colour scheme will be BRG and union jack flag. The aim of the team is to win each class at le mans before moving up to the next one. Once this is acheived, the team can disband. Pay someone like Martin Short to run the team. I just turn up, enjoy the drive in the second car, the champagne, the girls etc etc

[Shakermaker]

silverthorn2151 said:

at 1% net its still about £120k a month interest.

I could live on that.

That's nothing.... compared to a Premiership footballer, or one of the good F1 drivers.

Granted they won't have the backing of the £143m in the bank.

Anyway, why was this 2 year old thread bumped?

[Terminator X]

DuraAce said:

Greg_D said:

Centurion07 said:

So you disagree. How so?

I'd live very nicely indeed on £3M without every working again. I imagine most people away from the twisted reality of PH would feel the same way.

With £3m invested surely you can get 5% return which is £150k p/a. Hardly buttons!

TX.

[The Mad Monk]

SlackBladder said:

Same here, discussing this with the other half last night (she's from the Philippines originally too). Difficult to get your head round the fact that the interest you'd earn on your interest would be over £1000 a day.

How do you arrive at that calculation?

£143 million @ say, 2% p.a. = £7,835.61 per day.