If you won £1,000,000 Friday

[RyanDD]

Well being a young lad, id use a few bob to finish uni.
Spend a bit on the polo getting it how i want it
Take the gf on a nice holiday
Sort out the family with a decent sum.
Put some in a pension fund (mad aren't i)
Put the rest away until I'm older.
Ohh and a few grand to sort out my minis.

edit for spellingz

Edited by RyanDD on Tuesday 15th May 20:49

[Cotty]

Justayellowbadge said:

There are plenty on here, and in the general population, who could liquidate everything and end up with a bar free and clear. Very few do, choosing jnstead to keep working.

Odd that, if it's so easy.

People live to their means? Somone earning 1M a year will invariably have a large house with cars, and endulge themselves. Look at Ms Drew who last year received a remuneration package worth $15.5m.

http://www.telegraph.co.uk/finance/newsbysector/ba...

Thats a lottery win for most people but she still carried on working, why? Perhaps because she lived up to her salery and needed it to maintain multiple homes, expensive cars, private jets, expensive holdays etc etc. Or did she just love her job?

I think most people on this thread saying they could not retire on 1M would change their opinion if the amount was raised to 15M, but she is taking that down very year.

[GT3ZZZ]

Pay off half my mortgage!

[RizzoTheRat]

The trouble is if I retired now (39) I'm sure I'd have fun for a while but sooner or later I'd either get bored, or spunk all the cash on expensive hobbies to stop myself getting bored. Far better to spend my time in a job I enjoy.

[v8will]

That would be a life changing amount for me but certainly not enough to spend stupidly. I'd take some time off work to have a think about future plans and have a decent holiday with the family.

After that it would be work as normal, just with better holidays every year.

[Sheets Tabuer]

RizzoTheRat said:

The trouble is if I retired now (39) I'm sure I'd have fun for a while but sooner or later I'd either get bored, or spunk all the cash on expensive hobbies to stop myself getting bored. Far better to spend my time in a job I enjoy.

Indeed, I gave up work 3-4 years ago to look after my disabled son (I'm 40) and I think I actually talk to myself from time to time, unless you have pots of cash not working/retiring is pretty st.

[JAHetfield]

£250k to Mum
£250k to Dad
£250k to little brother
Spend the rest on a bungalow with a garage in a nice quiet area and a Mk2 Escort RS2000 with X pack kit

Don't think giving up work/retiring would interest me. Spent a year on the dole and it drove me nuts.

[Cotty]

Sheets Tabuer said:

Indeed, I gave up work 3-4 years ago to look after my disabled son (I'm 40) and I think I actually talk to myself from time to time, unless you have pots of cash not working/retiring is pretty st.

I think the problem with a lot of people is they do not have a hobbie, something they like to do outside work. I know a quite few people who's life surrounds the 9-5 working week, when they suddenly have 7 days where they don't have to work they are lost. They go on holiday and they are checking their Blackberry every five mins.

[Cock Womble 7]

v8will said:

That would be a life changing amount for me but certainly not enough to spend stupidly. I'd take some time off work to have a think about future plans and have a decent holiday with the family.

After that it would be work as normal, just with better holidays every year.

Same here. I had been thinking about this recently and think that even "only" £750,000 would be a life-changing amount.

Pay off debts (nothing major, would hardly make a dent).

Treat the family to a few bob.

Buy a house (nothing too massive or flash, there's only going to be me in it).

Furnish/decorate/gadgetify house.

Buy a "sensible" second car (I'm thinking Range Rover).

Continue working (I'm one of those sad, weird people who actually enjoy their job).

Enjoy the same (decent) wage but with significantly fewer outgoings.

And still have a fair few quid in the bank for a rainy day. Or more likely a sunny day somewhere sunny.

[BadgerBenji]

Buy next door, and knock the two houses into one, convert one of the garages into a very well equipped machine shop, and enjoy making motorcycle components as a living, with plenty of track days chucked in to play on.

[Sheets Tabuer]

Cotty said:

I think the problem with a lot of people is they do not have a hobbie, something they like to do outside work. I know a quite few people who's life surrounds the 9-5 working week, when they suddenly have 7 days where they don't have to work they are lost. They go on holiday and they are checking their Blackberry every five mins.

Indeed but I've found even a hobby can become tiresome if thats all you have to do, you fade in and out and you're on to the next thing to try and fill your day.

A million would give you options, heck I've even thought about selling a house and buying a motor home so I can just bugger off every few weeks

[New POD]

I'd buy a 3 bed apartment in B1, and the house next door to my in-laws with a double garage (L37).

And I build the most silly 1.6 Forced Induction MX5.

I'd give my current house jointly to my kids,

and the remaining £400K I'd invest in social and community drama projects.

[Zwolf]

Sheets Tabuer said:

mrmr96 said:

Here's some: There's no tax to pay on lottery winnings.

I was thinking about the interest or if I was able to buy an annuity or other investment.

I only have a tiny mortgage so I'd like it to fund a lifestyle not the exchequer.

Taxes avoided by the astutest efforts of financial advisors/savvy accountants = a bit less than the money you pay them to do so.

As for what I'd do:

• Pay off all current debts.
• Keep the house we're in, either rent it out or live in it.
• Buy a small bolthole here just for me.
• Buy a reasonable home in NZ for the wife.
• Buy a few cars I'd like to own indefinitely.
• Take a break from work to finish studies sooner that will enable me to spend the rest of my life working at what I want to do, rather than what I do do, just for the money.
• Live modest, but comfortable life with infinitely less stress.

Edited by Zwolf on Tuesday 15th May 22:34

[Famous Graham]

Council Baby said:

Pixel Pusher said:

After reading some of your previous posts, I took the liberty of adjusting your figures CB.

You strike me as a man who lives well.

I reckon I could do a 1 year round the world trip in relative luxury on £100k

Easily.

I managed it on 4k (after the plane ticket). Ok, wasn't luxury, but I wasn't roofless or foodless or beerless at any point.

[EarlOfHazard]

37' Malo Yacht - sail the world for a year or so. House (which I'd rent out whilst I was away). Give some money to my mum and dad.
Once back from trip, I'd buy a 996 turbo. Any money left I'd save away and try to live off a normal wage. With no debts to pay each month it'd be do-able I think..

[AlpineWhite]

1) pay off the old dear's mortgage
2) go away for six months, decide what I really want to do
3) buy a house with double garage (300k)
4) buy a caterham and
5) start doing whatever I decided on doing - whether my own business or working for someone else
6) buy a couple of cheap flats to rent out (300k)

[Tango13]

anonymous said:

[redacted]

1, 40

2, I earn enough to live well and keep my toys in unleaded, my mortgage is less than £35k and I have savings.

3, If I time it right i'll have enough left in the bank to pay for the cremation.

4, Low risk investments that will return a modest but safe return.

As i've posted before I have no dependants and why should I leave large quanties of money to family or the taxman? I'd spend some of the capital which would be tax free income investing some of it into a pension. I have the car I want which I own outright, same with the bike.

I'm not one for a big flash lifestyle, I don't need or want a bigger house but I might be tempted to move somewhere with a bigger garage with power. So yes i could retire with £1m in the bank.

[Stiglet80]

Would buy a suitable medium sized motorhome with attachable scooter, upgrade all my camera equipment, travel and photograph every inch of the world that the rest of the money would take me.

Oh and buy a stupidly priced piece of random art for no reason.

[Waugh-terfall]

I'd pay off my parents mortgage and buy my Dad the new car he put off to buy me another new car and properly furnish the new house.

I'd give my sister my car, do the tyres and brakes and insure it for a year for her.

I'd give my Mum the value of the car I'd buy for Dad to do what she likes with.

I'd spend ~£60k on two cars for me:

2008 Porsche Boxster S (987)




2011 Range Rover Evoque Coupe Si4 Dynamic Auto




I'd spend around £500,000 on a nice house locally
http://www.rightmove.co.uk/property-for-sale/prope...


http://www.rightmove.co.uk/property-for-sale/prope...




http://www.rightmove.co.uk/property-for-sale/new-h...




I'd bank the rest and carry on as normal.

Edited by Waugh-terfall on Wednesday 16th May 00:38

[Burnham]

Vegas. Even if it went bad, it would be fun. Come home when the money runs out and carry on as normal.