If you won £1,000,000 Friday

[hollydog]

Cotty said:

500k to charity

Good on you for giving to a charity .Iam sure the person at the top of the charity would be greatfull for any help to buy his next bentley .

[Cyder]

hollydog said:

Cotty said:

500k to charity

Good on you for giving to a charity .Iam sure the person at the top of the charity would be greatfull for any help to buy his next bentley .

This ^^

Is exactly why I wouldn't give the money to charity.

[JAHetfield]

Cyder said:

hollydog said:

Cotty said:

500k to charity

Good on you for giving to a charity .Iam sure the person at the top of the charity would be greatfull for any help to buy his next bentley .

This ^^

Is exactly why I wouldn't give the money to charity.

I stopped giving to charity after reading through the job ads and seeing £40-£50k positions advertised. That's money that should be going to someone who needs it.

[Tango13]

JAHetfield said:

Cyder said:

hollydog said:

Cotty said:

500k to charity

Good on you for giving to a charity .Iam sure the person at the top of the charity would be greatfull for any help to buy his next bentley .

This ^^

Is exactly why I wouldn't give the money to charity.

I stopped giving to charity after reading through the job ads and seeing £40-£50k positions advertised. That's money that should be going to someone who needs it.

Many years ago I went on a 'pet run' with the local BMF. A pet run is a thinly disguised excuse to get a load of blokes together on bikes and hoon across the county to an animal sanctuary.

When we arrived at the local Blue Cross we deposited large quantities of assorted cat and dog foods plus other stuff like toys and bedding in a neat pile on their front lawn. The manager bloke was almost in tears as he'd never seen such generosity.

He said that foodstuffs were of more use than money as cash donations had to go through the books which meant lots of paperwork etc but with the food they could just get on and feed the animals. I used to give them my old Evening Standards when I worked nights, they were always grateful for papers as they were a needed but overlooked commodity.

I wouldn't give any money to charity but I would give them equipment that they could use.

[Mark.H]

Go to vegas, bang it all on black.

[Dalto123]

1. Put a bit aside to buy myself a nice flat - about £200k let's say.
2. I need to furnish the flat and I have no idea what that costs! But let's say for the moment 10K (I'm sure I can get a few nice things in that price range)
3. I don't want to go mad car wise so I'll stick £50k on the side for the next 3-4 years worth of motoring. Maybe I'll add a bit more later depending on what takes my fancy.
4. I want to invest some money bu have no idea how to so I'll trust some money with those people who invest it for you. See if I can get some momey back after! - I'll start on £250k now and if I'm successfully I'll reinvest more.
5. Lavish gifts on friends and family £10k.
6. Donate a bit to various charities £15k.
7. Save the remaining £465k in the bank.

Now for several people to shout at me for not buying a million pounds worth of cars

[devnull]

Tango13 said:

I wouldn't give any money to charity but I would give them equipment that they could use.

This exactly. Ive had a bit of an eye opener to the way some of the bigger ones are run. Best to give the stuff to people who really need it at the coalface.

[GT03ROB]

A million would be great to win, hell anything would be great to win, but it's a sort of no mans land of a win. It's really not eough to retire on with a good lifestyle for anyone less than 60ish, yet it's enough to make life more comfortable on a day to day basis. You won't be buying new Porsches evey few years, but you now have no reason to have a mortgage.

For me it would clear the mortgage; thoroughly refurb the house to a high standard; put together a portfolio of investments to make retirement a bit better and ensure that I can have 5* holidays of sun & skiing every year, but probably not a lot more!

Stopping work would need substantially more than £1m, probably more like £5m.

[Jasandjules]

I am more interested in the 50m......

[welshjohn]

For me is simple 150k max will get you a nice 3 bed house with garage and a bit of land around my parts.
5k on a new bike
50k max on two cars his and hers
25k to kit out house
Total 250k i dont need flash things

[Guvernator]

GT03ROB said:

Stopping work would need substantially more than £1m, probably more like £5m.

Still say this is entirely possible if you expand your horizons a bit. £1m is A LOT of money in certain countries and would enable you to live like a king in many nice parts of the world if you used it wisely. Possibly not straight away but I certainly wouldn't be planning on working for the next 20\25 years with a £1m windfall, I'd probably be able to retire in less than 3-4 years and move somewhere warmer.

I know examples of people who have accumalated around the £1m through investments\business and used it to set themselve up and now live a comfortable lifestyle in a mediteranean climate with no more money worries so it can be done.

[GT03ROB]

Guvernator said:

GT03ROB said:

Stopping work would need substantially more than £1m, probably more like £5m.

Still say this is entirely possible if you expand your horizons a bit. £1m is A LOT of money in certain countries and would enable you to live like a king in many nice parts of the world if you used it wisely. Possibly not straight away but I certainly wouldn't be planning on working for the next 20\25 years with a £1m windfall, I'd probably be able to retire in less than 3-4 years and move somewhere warmer.

I know examples of people who have accumalated around the £1m through investments\business and used it to set themselve up and now live a comfortable lifestyle in a mediteranean climate with no more money worries so it can be done.

You are probably right. And £1m is a lot of money here in the UK too, it's just not quite as much as many think! Personally I wouldn't be happy to pack up & live overseas, I like the UK too much. I'd be happy to have a place overseas with the freedom to go as & when I wished.

[Ki3r]

Take a break from work for a bit.
Pay off parents debts and mortgage.
House for my brother (adapted for his wheelchair).
House for myself
Save/invest the rest.

[m444ttb]

I discussed this with my wife the other night (nothing good on tv!). Thankfully we seemed to be on the same wavelength! We'd spend up to half of it on a family 'forever' home (£500k in the Swindon area gets a lovely 5 bed detached place in a bit of countryside); pay off our existing mortgage and rent this house out. So call that £630k gone but £800 (mortgage amount) plus rental income back into our pockets.

We would stick c£200k away, give a few £xxK's away to friends and family to make their lives better. The rest would be spent on a few cars (5 between us), some great 'pre-children' holidays, and for her various shoes / handbags / clothes. She would also get to give up her job!

All in all a better version of now!

[x type]

Pay off mortgage £1.50 yep that's all I owe
buy nice car £50,000
give mam money £100,000
give kids money £100,000 each

Give wife £3.25 bus fare back to where she came from

then go live in the sunshine

[66comanche]

Amazed at all these people who would win £1m, stick most of it into a house/cars and continue working. Guess thats fine if you enjoy your job but if I won I'd never work for anyone else again, I would do something to bring money in (property developing probably, or maybe buy a franchise?).

Even if I did nothing, say I calculated to drawdown the £1m to say £200k when I was 60, if I did that at an equal amount each year that's nearly £31k p.a + the interest (5% should be achievable?) so £81k this year minus tax. About £79k next year etc, would be a nice lifestyle while I'm still relatively young!

[KingNothing]

I'm 24 I couldn't get away with retiring if I won a million, I'd be too bored plus the money wouldn't last, like I said I'd train as a commercial pilot as its a well paid job and probabley a bit more enjoyable than my current job. Majority of the wage would go into a pension fund, the rest would be used to run a household.

Edited by KingNothing on Wednesday 16th May 21:46

[ewenm]

Invest in Lola...

[Rollcage]

66comanche said:

Amazed at all these people who would win £1m, stick most of it into a house/cars and continue working. Guess thats fine if you enjoy your job but if I won I'd never work for anyone else again, I would do something to bring money in (property developing probably, or maybe buy a franchise?).

Even if I did nothing, say I calculated to drawdown the £1m to say £200k when I was 60, if I did that at an equal amount each year that's nearly £31k p.a + the interest (5% should be achievable?) so £81k this year minus tax. About £79k next year etc, would be a nice lifestyle while I'm still relatively young!

Most of your interest will be eaten away by inflation, and 200k won't be worth very much by the time you are 60.

[Jandywa]

13th said:

Well I'm not going to worry about Friday's draw;

I WON, I WON, I WON!!!!!!

YAY £4.70! at this moment I'm deciding between paying off the mortgage, running for the coast or having extra cheese on my lunchtime sandwich!

I really never thought it would happen to me; so very VERY excited

pfffft

i won £10.10 the other week.

More than twice your win!! I'll be having some seriously high quality cheese on my sandwich.