How do you spend £143 Million?
Discussion
Would a million really ruin lives?
Down here on the south coast that amount will buy a fairly large 3/4/5 bed house in a nice area, a good new car or two, some holidays and maybe some cash left over for the kids' education. I can't see how having a reasonably decent house, cars and being debt-free would automatically mean coke/hookers/divorce/oblivion within weeks. I doubt many could afford to give up work on a million and live well. I know I couldn't.
Down here on the south coast that amount will buy a fairly large 3/4/5 bed house in a nice area, a good new car or two, some holidays and maybe some cash left over for the kids' education. I can't see how having a reasonably decent house, cars and being debt-free would automatically mean coke/hookers/divorce/oblivion within weeks. I doubt many could afford to give up work on a million and live well. I know I couldn't.
JulianHJ said:
Would a million really ruin lives?
Down here on the south coast that amount will buy a fairly large 3/4/5 bed house in a nice area,
I reckon for certain that if I gave my brother and his wife £1M, she would add the £200K ish equity in their current house, calculate how much of a mortgage they could get and immediately start looking at £1.5M houses.Down here on the south coast that amount will buy a fairly large 3/4/5 bed house in a nice area,
Sheepshanks said:
I reckon for certain that if I gave my brother and his wife £1M, she would add the £200K ish equity in their current house, calculate how much of a mortgage they could get and immediately start looking at £1.5M houses.
Why would anyone want a £1.5M house and the overheads....they'd be better to stay put and start an investment portfolio of smaller properties or invest your generous windfall rather than tie it up + a mortgage in a show home. Hmm I'd find it hard to spend, but I'd give it a good crack.
First thing would be buying my mum, sister and grandparents their own nice houses and a lump of cash to each (probably a few million spent on each). I'd then look at buying a nice enough place for myself in the short term as am in the process of moving anyway.
I'd then get looking at, and designing my own house somewhere which I can imagine would cost a few million given what I'm like with gadgets and my idea for an underground garage..
The first car I'd buy would be this viper as I've wanted one since I was little and it's got two big white stripes running down it!!
To keep me busy for the first few years, I'd get back to competitive skydiving and fund a team which trained almost full time. I've done quite well in this area in the past but hit a cost ceiling / work life balance bit. I can see that swallowing a few million..
I'd look into supporting a few charities.
All in all I'd probably take £43million to a spunk away fund on houses / fun and put the remaining £100million into a trust / investments which would replenish the £43million reasonably quickly!!
First thing would be buying my mum, sister and grandparents their own nice houses and a lump of cash to each (probably a few million spent on each). I'd then look at buying a nice enough place for myself in the short term as am in the process of moving anyway.
I'd then get looking at, and designing my own house somewhere which I can imagine would cost a few million given what I'm like with gadgets and my idea for an underground garage..
The first car I'd buy would be this viper as I've wanted one since I was little and it's got two big white stripes running down it!!
To keep me busy for the first few years, I'd get back to competitive skydiving and fund a team which trained almost full time. I've done quite well in this area in the past but hit a cost ceiling / work life balance bit. I can see that swallowing a few million..
I'd look into supporting a few charities.
All in all I'd probably take £43million to a spunk away fund on houses / fun and put the remaining £100million into a trust / investments which would replenish the £43million reasonably quickly!!
ZOLLAR said:
gwm said:
Not to be a downer either, but if you gave a pal £1 million, would they not lose 400k of it to tax anyway?
Yeah I'd be gutted if my mate gave me a million and I only had £600,000 out of it 
gwm said:
ZOLLAR said:
gwm said:
Not to be a downer either, but if you gave a pal £1 million, would they not lose 400k of it to tax anyway?
Yeah I'd be gutted if my mate gave me a million and I only had £600,000 out of it If you were able to contain yourself enough from cashing it in instantly, you could arrange with all your close friends and family that they were *in* a syndicate with you.
i.e. you bought 10 tickets and they had contributed 1p to all 10 (for instance). therefore they would be entitled to a share of the money.
i.e. you bought 10 tickets and they had contributed 1p to all 10 (for instance). therefore they would be entitled to a share of the money.
I was thinking about the tax issue earlier. Could you open an account within the same bank under your name and drop £10m into it then give each family member a debit card to access funds?
Banking would be a massive issue in itself. You obviously wouldn't be putting it in a Santander account but I have no idea how to go about opening an offshore account under some Swiss bank. Maybe a private London bank would be the place to start. They would probably give you a free lunch if you brought in £150m in a single account.
Banking would be a massive issue in itself. You obviously wouldn't be putting it in a Santander account but I have no idea how to go about opening an offshore account under some Swiss bank. Maybe a private London bank would be the place to start. They would probably give you a free lunch if you brought in £150m in a single account.
Edited by Jayyylo on Wednesday 22 October 16:46
boyse7en said:
Jayyylo said:
Maybe a private London bank would be the place to start. They would probably give you a free lunch if you brought in £150 in a single account.
Might try that. I've got £150 to spare, book me a table 
P.S. If I win I'll pay you £10k/week to spell check my PH posts.
Nice House in large acreage and have a little track for the go karts/buggies/ engine based toys I will inevitably buy.
House in the Med for family use.
Yacht for travelling about the world.
Get my family sorted out, give them a couple of million each to get them into a fantastic house and never really worry about money again.
Set up a trust fund for my nieces and nephew to sort them out for future life. They won't get a lump sum all in one go, when they want to buy a house, the fund will contribute mortgage value up 80%. similar principle with job, if they get a job that helps other (ambulance, nurse, police, fireman etc..) trust fund would double their wages, so they earned 17k a year, trust fund would pay 17k throughout the year.
Get Married, all be it understated, nothing brash.
Rangey for OH's daily duties. Buy her the motorbike she's always wanted.
F Type R for daily duties. Aston Vanquish for Gt-ing and weekends. M3 CSL for hooning/ Track toy.
Buy Dad an E-Type, upgrade to modern standards (modern brakes, suspension, cooling etc) and give him a million to spunk on what he likes.
House in the Med for family use.
Yacht for travelling about the world.
Get my family sorted out, give them a couple of million each to get them into a fantastic house and never really worry about money again.
Set up a trust fund for my nieces and nephew to sort them out for future life. They won't get a lump sum all in one go, when they want to buy a house, the fund will contribute mortgage value up 80%. similar principle with job, if they get a job that helps other (ambulance, nurse, police, fireman etc..) trust fund would double their wages, so they earned 17k a year, trust fund would pay 17k throughout the year.
Get Married, all be it understated, nothing brash.
Rangey for OH's daily duties. Buy her the motorbike she's always wanted.
F Type R for daily duties. Aston Vanquish for Gt-ing and weekends. M3 CSL for hooning/ Track toy.
Buy Dad an E-Type, upgrade to modern standards (modern brakes, suspension, cooling etc) and give him a million to spunk on what he likes.
Alex said:
Interesting idea. I know syndicates can be legally binding in the event of a win, but does there need to be some proof or documentation (dating from before the win)? Can you just say "We are in a syndicate?"
Basically, yes.But the lottery has guidance on it - https://www.national-lottery.co.uk/c/files/syndica...
Anyway, I've decided to go for it and set up the PH one - please see the other thread in The Lounge if you want to take part
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