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Lotto Windfall, What Would You Do?


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Don't get your knickers in a bunch, she's let herself go and isn't the oil painting I married anymore. I've told her many times she's gone if I win the jackpot and she's totally cool with it. Granted she thinks I'm joking but if the time comes I'll try to break it gently by text or something.

 

Who said romance was dead, you're just a softie at heart that's what you mean isn't it.

 

---------- Post added 03-06-2013 at 11:43 ----------

 

---------- Post added 02-06-2013 at 23:27 ----------

 

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I know exactly what you mean about the extra insurance I have similar issues myself, the last time we got a quote the holiday was around £1,000 and the insurance for me was £640 for 2 weeks! All thanks to a drunk driver when I was 11 years old, he's dead now but I'm still living with what he did...nice

 

My son in law has just had his stag weekend in Barcelona I can't go due to health but out of curiosity I went online, for a quote. They want £400 quid for 3 days, I looked at Turkey for 2 weeks and the cheapest I could get was 2k for insurance, it's ridiculous.

 

My brother is considering going to America in near future and again I looked for 4 days for me in New York (curiosity), £1,500 quid. Like yourself it puts it well beyond us, that's why if I won the lottery it would not sting so much, I don't mind they have to protect themselves but they should say, if you don;t claim we'll give you say 75% back.

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(i) noone (but me) would know about it.

 

(ii) the money would be moved overseas faster than it takes me to type this. I have a couple of vehicles ready-setup for just such an occasion.

 

(iii) subsequently/eventually, family (the immediate one only) and some very close friends (2-3) would find a lot of things in their life 'facilitated', anonymously.

 

e.g. mortgages paid up, o/standing finance cleared, maybe an honorary non-exec directorship of an overseas company they've never heard of and which pays them £15k a year, and such other initiatives... No big money/amounts handed out anywhere (or e.g. where mortgages are concerned, then paid by trusts or holdings, not persons), and certainly no publicity or even confessions what-so-ever. If you're wealthy, then to live happy, you want to stay hidden.

 

As for me, there would be no outward change whatsoever. Maybe take it a bit easier at work, and retire earlier (stick it another 10 years, for the craic) and maybe upgrade the 15 year-old convert for a 5 year-old convert (under pretence of a small scratchcard or such-like win).

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What would I do?

 

well, the ability to do so, would depend entirely on how much I won, but....

 

Pay off my debts...

pay off mums debts...

 

work out how much I need to comfortably live for a year, and put that in a separate account....

 

Put the same amount in savings or ISA or something...

 

I'd splurge on new everything, everything for the house, new clothes, a holiday etc...

 

then whatever was left would go into the savings acc't also...

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  • 3 weeks later...
You're going to be awfully alone with your money Ebenezer, or have a strange family because I can't think of anybody in my or OHs family who behaves like you say and believe me its quite a large family nor would my friends actually

 

oh here we go, the emo police have arrived.

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Ita amazing to see how many self centred people exist on this forum hardly anyone has thought of anything but themselves and their dreams,what about the dreams of terminally ill kids who are never going to realise theirs,what you never had you never miss so I would set up a trust to pay for these unfortunate kids to see their once in a life time dream come true.

The saying that money is the root of all evil springs to mind and how it changes a persons life and not necessarily for the better,the only couple who I know who have enriched peoples lives with winning the lottery are the Wraggs and they have help so many kids.

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Ita amazing to see how many self centred people exist on this forum hardly anyone has thought of anything but themselves and their dreams,what about the dreams of terminally ill kids who are never going to realise theirs,what you never had you never miss so I would set up a trust to pay for these unfortunate kids to see their once in a life time dream come true.

The saying that money is the root of all evil springs to mind and how it changes a persons life and not necessarily for the better,the only couple who I know who have enriched peoples lives with winning the lottery are the Wraggs and they have help so many kids.

 

Good point there. However, I think a lot of the threads are tongue-in-cheek, and I think most people would give some cash away to others, including charities. A lot of the threads (mine included) say they would give some away.

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Depending on the amount I'd won I have several plans. Investments etc.

 

But as daft as it sounds if it was 'only' around a million then it'd be spent pretty quickly. A million these days doesn't really get you a lot. Most people would buy themselves a house and maybe their parents a new house. With furnishings and all the moving costs, that's £600,000 gone if both houses are just moderate. I'd certainly buy myself and my partner a new expensive car each and a big holiday that's another 100,000.

 

So already down to £300,000. You couldn't win a million these days and afford not to work.

 

It might be enough to stop work, but not if you spend large chunks of it immediately.

 

There was an article some time ago in the paper that estimated that you needed to win 2.1 million to be able to immediately retire, but it made quite a lot of assumptions to reach that figure.

 

---------- Post added 23-06-2013 at 10:29 ----------

 

Don't get your knickers in a bunch, she's let herself go and isn't the oil painting I married anymore. I've told her many times she's gone if I win the jackpot and she's totally cool with it. Granted she thinks I'm joking but if the time comes I'll try to break it gently by text or something.

 

I expect that taking 50% of the win will help to ease her upset.

 

---------- Post added 23-06-2013 at 10:33 ----------

 

(i) noone (but me) would know about it.

 

(ii) the money would be moved overseas faster than it takes me to type this. I have a couple of vehicles ready-setup for just such an occasion.

 

(iii) subsequently/eventually, family (the immediate one only) and some very close friends (2-3) would find a lot of things in their life 'facilitated', anonymously.

 

e.g. mortgages paid up, o/standing finance cleared, maybe an honorary non-exec directorship of an overseas company they've never heard of and which pays them £15k a year, and such other initiatives... No big money/amounts handed out anywhere (or e.g. where mortgages are concerned, then paid by trusts or holdings, not persons), and certainly no publicity or even confessions what-so-ever. If you're wealthy, then to live happy, you want to stay hidden.

 

As for me, there would be no outward change whatsoever. Maybe take it a bit easier at work, and retire earlier (stick it another 10 years, for the craic) and maybe upgrade the 15 year-old convert for a 5 year-old convert (under pretence of a small scratchcard or such-like win).

 

Why would you want to move it offshore? It's a tax free win, although of course anything it then generates is taxable income, it's not like HMRC wouldn't be aware of the income though if you did move it offshore.

 

Can you anonymously pay off someones mortgage? Maybe you can, so long as you know the account details to pay it into.

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I've already worked out what I would with £4 million.

 

Would look after friends and family and then get a house for me, and then invest in property and rent them out, invest in a few businesses and keep some in the bank.

 

Probably the best way to go. Invest in property and sort close family and closest friends out.

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