50M on the Lotto

[PAULJ5555]

Following the Bono charity thread, if you won 50M on the lotto how much would you donate to charity?

I would donate nothing myself as you never see where the money went, I would thou pay out about 5M on things like a childrens hospital, equipment things I could see where my money went.

[Timmy35]

80% of it. £10m is more than enough to generate a very nice income. Like you though I'd make sure it was direct, not to a charity that took all sorts of overheads and costs out of it before it got anywhere near the end cause.

[Jezza30]

£10m for Help for Heroes.
£40m to house and car fund.

[st_files]

None. I would spend between 10-20% running worthy causes - eg a homeless shelter, I'd pay to buy, maintain and run it.

[soad]

Probably 20% of it would be donated, not all at once either.

[pano amo]

I wouldn't give any money to a charity. I'd set up my own. Only way you can be sure its being spent properly. My mother worked for a well-known charity for years. An awful lot was spent on advertising and business trips etc. Yep it has to be run as a business but the boys at the top got perks as good as private sector.
Plus I wouldn't give a penny to overseas efforts. We have enough problems here. Giving money to Africa is as good as burning it.

Read a good definition of charity a while back: Poor people in rich countries giving money to rich people in poor countries.

[elster]

None.

[Stu R]

Some. I find it pretty cringe worthy when people disclose how much they donate.

[Groober]

I might put a quid or two in that big plastic dog they have at the bank.

[Tony*T3]

None.

I'd allocate a percentage of my wealth to charitable causes (say, 15m). Then, that money would be used to generate an annual income. The profit that is made, would then be donated to good causes.

Thus, I get to keep the 15 million, but the charities/good causes benfit year on year.

Well managed I should be able to generate an annual charitable donation of around £1 million, and still keep the capital to myself.

I doubt I'd donate any money to any registered charity though. It would be one off/benevolant donations to good causes. Most registered charities are simply businesses keeping middle class people in well paying jobs.

[Cock Womble]

elster said:

None.

Yeah, fk all. It's my money and I won it fair and square.

[elster]

Cock Womble said:

elster said:

None.

Yeah, fk all. It's my money and I won it fair and square.

Actually that's a lie. The coke and hookers foundation will be rolling in it!

[JamieBeeston]

Timmy35 said:

80% of it. £10m is more than enough to generate a very nice income.

£50k pa before tax and leaving you open to inflation if you spend it.

[Timmy35]

Tony*T3 said:

None.

I'd allocate a percentage of my wealth to charitable causes (say, 15m). Then, that money would be used to generate an annual income. The profit that is made, would then be donated to good causes.

Thus, I get to keep the 15 million, but the charities/good causes benfit year on year.

Well managed I should be able to generate an annual charitable donation of around £1 million, and still keep the capital to myself.

I doubt I'd donate any money to any registered charity though. It would be one off/benevolant donations to good causes. Most registered charities are simply businesses keeping middle class people in well paying jobs.

Good plan.

[Timmy35]

JamieBeeston said:

Timmy35 said:

80% of it. £10m is more than enough to generate a very nice income.

£50k pa before tax and leaving you open to inflation if you spend it.

If you can't do any better than a 0.5% return per annum from £10m you need shooting.

[Cock Womble]

elster said:

Cock Womble said:

elster said:

None.

Yeah, fk all. It's my money and I won it fair and square.

Actually that's a lie. The coke and hookers foundation will be rolling in it!

Have they achieved charitable status now?

I believe that makes them eligible for "gift aid" or whatever. Basically, you get some cashback.

[lazyitus]

Cock Womble said:

elster said:

None.

Yeah, fk all. It's my money and I won it fair and square.

[JamieBeeston]

Timmy35 said:

JamieBeeston said:

Timmy35 said:

80% of it. £10m is more than enough to generate a very nice income.

£50k pa before tax and leaving you open to inflation if you spend it.

If you can't do any better than a 0.5% return per annum from £10m you need shooting.

Oh you can, easily.. just give it to a hedge fund, or invest in one of those Ponsi Stunning investment vehicles, or maybe give it to some investment bankers

Interest rates arent what they used to be alas!

[Timmy35]

JamieBeeston said:

Timmy35 said:

JamieBeeston said:

Timmy35 said:

80% of it. £10m is more than enough to generate a very nice income.

£50k pa before tax and leaving you open to inflation if you spend it.

If you can't do any better than a 0.5% return per annum from £10m you need shooting.

Oh you can, easily.. just give it to a hedge fund, or invest in one of those Ponsi Stunning investment vehicles, or maybe give it to some investment bankers

Interest rates arent what they used to be alas!

You need to get an IFA, or get a new one if you already have one.

[BoRED S2upid]

No more than I do now through voluntary work and donations. If everyone did the same charities would be awash with money. Thing is I fear only a tiny percentage of the population capably of giving £2 a month do so.