Oh to be idle rich

[HOGEPH]

I've been using up holiday for the past fortnight, and still have a few days left off. It's been great not having to get up early, staying in bed until mid morning and then pottering about for the rest of the day. (So much for the big DIY plans!) Especially as the weather has been so arse.

It got me thinking, how great would it be to be able to do this everyday, AND have the sort of money that would allow you to do things on a whim, such as jet off to New York to go and see a show, or spend a week learning to scuba dive in the Red Sea.

I can't understand the thought processes of those lottery winners who say "Oh, I'd still go to work."

Roll on those 6 numbers....

[AJS-]

You never appreciate what you have in abundance. Any idea how many people in the world think "wouldn't it be great to live in a nice stable western democracy and have a steady job that pays more in a month than I can earn in a year."

[ApexJimi]

There's always a flip side

Still doesn't make me want those 6 numbers any less though.

[Neil H]

Yes, actually it's my dream. I wouldn't be pottering around the house though, I'd be seeing the world.

[HOGEPH]

I'm only pottering because I haven't won the lottery yet.

Once that happens, I'm off on a grand tour.

And I'd never do DIY ever again!

[Evangelion]

HOGEPH said:

... I can't understand the thought processes of those lottery winners who say "Oh, I'd still go to work."....

In my opinion they should be made to turn their job over to someone who really needs it.

[Matt Evans]

HOGEPH said:

I can't understand the thought processes of those lottery winners who say "Oh, I'd still go to work."

I think I would. Just for one day mind. And just to give them the middle finger. Perhaps smoke a cigar at my desk and rub a few £1000.00 wads together. Then I'd leave.

[sherman]

A win on the national lottery is not enough to sustain you for the rest of your natural life. You need £ 4,000,000 to give you about £40,000 a year for life so unless you win the Euro Millions you will need some way of topping up your income like a job of some sorts.

[Martial Arts Man]

sherman said:

A win on the national lottery is not enough to sustain you for the rest of your natural life. You need £ 4,000,000 to give you about £40,000 a year for life so unless you win the Euro Millions you will need some way of topping up your income like a job of some sorts.

If you think that 1% is about the best return on £4 million you can get, I think you need a new financial advisor!

[WorAl]

Martial Arts Man said:

sherman said:

A win on the national lottery is not enough to sustain you for the rest of your natural life. You need £ 4,000,000 to give you about £40,000 a year for life so unless you win the Euro Millions you will need some way of topping up your income like a job of some sorts.

If you think that 1% is about the best return on £4 million you can get, I think you need a new financial advisor!

Hehe, thats what I was thinking, or you really need to learn how to invest better. You could get 5% from just throwing it in a building society. £500,000 would see me fine I rekon, £1m and over I would be laughing all the way to my grave......several days later.

ETA you see im not a greedy man, I just want enough to leave my job.

Edited by WorAl on Monday 18th January 10:14

[sherman]

Martial Arts Man said:

sherman said:

A win on the national lottery is not enough to sustain you for the rest of your natural life. You need £ 4,000,000 to give you about £40,000 a year for life so unless you win the Euro Millions you will need some way of topping up your income like a job of some sorts.

If you think that 1% is about the best return on £4 million you can get, I think you need a new financial advisor!

Thats not including buying the house, cars, boats etc thats just the wage.

[WorAl]

sherman said:

Martial Arts Man said:

sherman said:

A win on the national lottery is not enough to sustain you for the rest of your natural life. You need £ 4,000,000 to give you about £40,000 a year for life so unless you win the Euro Millions you will need some way of topping up your income like a job of some sorts.

If you think that 1% is about the best return on £4 million you can get, I think you need a new financial advisor!

Thats not including buying the house, cars, boats etc thats just the wage.

If you're saying you couldnt live on, get a car, house, for say £200,000 a year you need to kurb your spending habbits.

[littlegreenfairy]

3 weeks at home and I'm beginning to go crazy.

No way could I do this forever, if it was interspersed with a few little jobs that you can pick up and put down as you feel like it then perhaps, but not like this (and running out of money is never good...unlimited money would just make you miserable I feel -nothing to achieve and nothing to look forward to)

[ndtman]

WorAl said:

Hehe, thats what I was thinking, or you really need to learn how to invest better. You could get 5% from just throwing it in a building society. £500,000 would see me fine I rekon, £1m and over I would be laughing all the way to my grave......several days later.

That would be a complete bummer.

[clonmult]

I'm waiting for that day when I win the lottery in a big way.

Guess I'll have to start buying a lotto ticket pretty soon if I'm going to stand any chance though. Although 1 ticket a per week=about the same odds of winning as buying a ticket.

[Frankeh]

If I won the lottery it would just mean I'd finally have all the money to follow up on my various business ideas.
I would just replace working for someone else with working for myself.

[sherman]

WorAl said:

sherman said:

Martial Arts Man said:

sherman said:

A win on the national lottery is not enough to sustain you for the rest of your natural life. You need £ 4,000,000 to give you about £40,000 a year for life so unless you win the Euro Millions you will need some way of topping up your income like a job of some sorts.

If you think that 1% is about the best return on £4 million you can get, I think you need a new financial advisor!

Thats not including buying the house, cars, boats etc thats just the wage.

If you're saying you couldnt live on, get a car, house, for say £200,000 a year you need to kurb your spending habbits.

If youve just won the lottery you are going to upgrade your house so that is over say £500,000 for a nice one with a bit of land. A car of your dreams £100,000+ and there will be more than 1 of them if your a proper petrolhead. A nice boat (not a RIB) say 30ft £1,000,000+ for a new one and then you have the running costs, taxes etc for all this.

Your £4,000,000 win after purchases would realistically be about £2,000,000 in the bank and even with the best FA money can buy that will not keep you going for the next 50 or so years.

[Neil H]

sherman said:

A win on the national lottery is not enough to sustain you for the rest of your natural life. You need £ 4,000,000 to give you about £40,000 a year for life so unless you win the Euro Millions you will need some way of topping up your income like a job of some sorts.

£40,000 pa out of a £4m investment?

A conservative estimate of 6.5% return would give you around £250,000pa, so I think your figures are way off, unless you're thinking of just leaving that £4m sitting in a current account. In which case I'd suggest taking the free financial advice they offer all lottery winners!

[Martial Arts Man]

sherman said:

WorAl said:

sherman said:

Martial Arts Man said:

sherman said:

A win on the national lottery is not enough to sustain you for the rest of your natural life. You need £ 4,000,000 to give you about £40,000 a year for life so unless you win the Euro Millions you will need some way of topping up your income like a job of some sorts.

If you think that 1% is about the best return on £4 million you can get, I think you need a new financial advisor!

Thats not including buying the house, cars, boats etc thats just the wage.

If you're saying you couldnt live on, get a car, house, for say £200,000 a year you need to kurb your spending habbits.

If youve just won the lottery you are going to upgrade your house so that is over say £500,000 for a nice one with a bit of land. A car of your dreams £100,000+ and there will be more than 1 of them if your a proper petrolhead. A nice boat (not a RIB) say 30ft £1,000,000+ for a new one and then you have the running costs, taxes etc for all this.

Your £4,000,000 win after purchases would realistically be about £2,000,000 in the bank and even with the best FA money can buy that will not keep you going for the next 50 or so years.

Nobody in their right mind would spend 1/4 of their cash on a boat! Plus, for a mill, I'd want something significantly bigger/better than 30'. You do know the running costs of a £1mill boat in a decent port?

With spending like that, I'm glad you don't advise me on my finances

Your name isn't Michael Carroll by any chance?

[KB_S1]

I would still work.
As I am self employed it would just mean I had a better car to travel in, better tools for the job and better holidays and days off wouldn't be as dull.

Idle rich would soon run out of appeal I think.