If you won £1,000,000 Friday
Discussion
Greg_D said:
if you look at ANY investment against inflation it looks less rosey, over 20 years it would need to rise by over 60% just to keep time with long term inflation of C.3%
i've just found an interesting press article:
http://www.zoopla.co.uk/press/releases/027/house-p...
Its sometimes swings and roundabouts, the figures never have any dividends reinvested when comparing the FTSE, similarly the house prices do not factor in that you have saved money on renting/paying a mortgage as you NEED somewhere to live. The house price comparison also does not take in to account money spent by individuals on 'improving' their homes so that they are worth more, but are they in real terms worth more now that you have built a conservatory for example, or have you spent another £30k in order for it to be worth £40k more. In these comparisons that is seen as a £40k increase in value but in real terms its only a £10k increase. Those indicators do not take in to account the cost involved in keeping a house in order over 20 years, painting/new carpets/curtains etc etc. If you buy a selection of shares then the company don't send you a bill when they need to repaint the offices, it is reflected in the share price. With property v FTSE comparisons they always assume that holding a property does not cost anything when obviously it does. I'm not saying property is bad all I am saying is I am astonished by how many people would put all their eggs in one basket!i've just found an interesting press article:
http://www.zoopla.co.uk/press/releases/027/house-p...
As of yesterday I am joining the Royal Navy, so I'd still do that.
£20,000 on a couple of nice holidays.
Buy outright a 3 bed house with a double garage, £350,000. Rent it out.
E39 M5 £12,000.
Pay of parents mortgage. £50k to each of my three sisters.
The remaining £300ishk can just sit in the bank earning interest
£20,000 on a couple of nice holidays.
Buy outright a 3 bed house with a double garage, £350,000. Rent it out.
E39 M5 £12,000.
Pay of parents mortgage. £50k to each of my three sisters.
The remaining £300ishk can just sit in the bank earning interest
Clear the current mortgage, rent house out or ask a friend to live there for a nominal rent
A couple or 3 cars. E46 M3 CSL, FFRR TDV8, maybe a 997TT if I was feeling naughty.
Mum, wants a little convertible,
Dad would be getting a restored Cossack bike, he gave up riding when I was born, and brought me home from the hospital on his Cossack.
Sister would get a decent car
Brother would get his uni fees paid up.
That will do me for big stuff, so maybe 150-250k spent.
Invest a chunk, hoping for a reasonable return - I don't understand most of that stuff, so would take some advise on that.
Some additional diving qualifications - 5-10k
Obtain nicer dive kit 3-5k
Live on other peoples boats in far flung locations being a guide for a few years.
Work out what I want to do when I grow up.
Never really grow up.
A couple or 3 cars. E46 M3 CSL, FFRR TDV8, maybe a 997TT if I was feeling naughty.
Mum, wants a little convertible,
Dad would be getting a restored Cossack bike, he gave up riding when I was born, and brought me home from the hospital on his Cossack.
Sister would get a decent car
Brother would get his uni fees paid up.
That will do me for big stuff, so maybe 150-250k spent.
Invest a chunk, hoping for a reasonable return - I don't understand most of that stuff, so would take some advise on that.
Some additional diving qualifications - 5-10k
Obtain nicer dive kit 3-5k
Live on other peoples boats in far flung locations being a guide for a few years.
Work out what I want to do when I grow up.
Never really grow up.
I don't think about this much at all 
I'd get a decent house - down my way, would need to be about 400k for something nice. The only proviso would be that it would have to have somewhere I could build a decent workshop with ramp,etc. Weekends would be spent building my own Ultima/GT40 rep
Cars - haven't got a clue, but probably an M5 in there somewhere, and a few others, which would be changed reasonably regularly - so many nice cars to sample!
I'd put £100k into my own business, which I'm reasonably sure I could get an income of around 2k per week from within a couple of years. I'd then be earning reasonable money with a business I'd enjoy doing.
I'd then get a couple of investment properties for about £250k as an income and investment for my daughter, and the rest would be kept for a rainy day!
I'd get a decent house - down my way, would need to be about 400k for something nice. The only proviso would be that it would have to have somewhere I could build a decent workshop with ramp,etc. Weekends would be spent building my own Ultima/GT40 rep
Cars - haven't got a clue, but probably an M5 in there somewhere, and a few others, which would be changed reasonably regularly - so many nice cars to sample!
I'd put £100k into my own business, which I'm reasonably sure I could get an income of around 2k per week from within a couple of years. I'd then be earning reasonable money with a business I'd enjoy doing.
I'd then get a couple of investment properties for about £250k as an income and investment for my daughter, and the rest would be kept for a rainy day!
Strange, I read this and almost worry that £1m isn't enough! I guess having money brings its own problems, especially if you win it, and you always need more. If people did find out you would always be the 'millionaire'. Would people expect you to act in a certain way, always be generous etc?
For me it would be security. So 350k house, 50k on cars, £50 or stuff and invest rest.
For me it would be security. So 350k house, 50k on cars, £50 or stuff and invest rest.
F458 said:
Its sometimes swings and roundabouts, the figures never have any dividends reinvested when comparing the FTSE, similarly the house prices do not factor in that you have saved money on renting/paying a mortgage as you NEED somewhere to live. The house price comparison also does not take in to account money spent by individuals on 'improving' their homes so that they are worth more, but are they in real terms worth more now that you have built a conservatory for example, or have you spent another £30k in order for it to be worth £40k more. In these comparisons that is seen as a £40k increase in value but in real terms its only a £10k increase. Those indicators do not take in to account the cost involved in keeping a house in order over 20 years, painting/new carpets/curtains etc etc. If you buy a selection of shares then the company don't send you a bill when they need to repaint the offices, it is reflected in the share price. With property v FTSE comparisons they always assume that holding a property does not cost anything when obviously it does. I'm not saying property is bad all I am saying is I am astonished by how many people would put all their eggs in one basket!
What you have to remember though is that investing in stocks and shares is a rather risky affair and it either requires quite a bit of financial nonce, luck or a bit of both to make a decent return. Either that or you hand your money over to someone else and trust them to make the right decisions in investing it for you. Can any of them 100% guarantee you a return on your investment? As the small print goes "The value of your investments may go down as well as up". This kind of risk is obviously not for everyone otherwise you'd have load more people doing it.Houses on the other hand have always followed a general upward trend which the average person can understand very easily, I am sure taking inflation and others costs into account, it might not be as much as it seems but people have seen huge returns on property investments, especially in the last decade, and in the meantime you are earning 5-7% return in rent every year to boot. The saying "as safe as houses" hasn't arisen for nothing.
anonymous said:
[redacted]
1. How old are you? 402. What kind of lifestyle do you currently have? compared to some on here probably quite restrained. Single, no dependants apart from a BMW and Lotus
. House nearly paid off.3. How long do you think a million quid will last you? rest of my probably short life
4. Do you intend to use the £1m to generate more wealth? had not really thought about it, but it would be more than my current pension pot, I think I could eek it out
Edited by Cotty on Tuesday 15th May 20:16
6 months holiday/travel/general f
king about - hopefully not kill myself in the process. Buy a lot of very nice wine.
Wouldn't spend any money on cars. Probably spend 250-300k on a property but still get a mortgage but with obvious large deposit. The rest I would invest in a variety of businesses. I would only spend money from my investments on cars and other frippery.
You should be able to generate enough annual return from £700k invested, to live a comfortable life.
king about - hopefully not kill myself in the process. Buy a lot of very nice wine.Wouldn't spend any money on cars. Probably spend 250-300k on a property but still get a mortgage but with obvious large deposit. The rest I would invest in a variety of businesses. I would only spend money from my investments on cars and other frippery.
You should be able to generate enough annual return from £700k invested, to live a comfortable life.
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