TheRocketMan Posted June 9, 2015 Share Posted June 9, 2015 What are your answers to the 4 questions below and why? Would you go public and receive the big cheque? What would be the very first thing you did after receiving the money? How much would you give away to charity/friends? What would be your big major indulgence? (house, boat, Bugatti) Note:- Before the typical SF members come on and say "I dont do the lottery cause its just a way for the government to tax the poor" etc Its just a bit of fun, you dont have to participate. ---------- Post added 09-06-2015 at 11:00 ---------- I'll go first... I would not go public.....i really dont understand those people who do I would book and trip to the Maldives and not tell anyone to give myself 2 weeks to figure out my next move. Id give £10m away to family/friends/charity Id buy a big house in Alderley Edge for around £4m Generally, i think id spend the next few years travelling and enjoying the high-life. Link to comment Share on other sites More sharing options...
Daven Posted June 9, 2015 Share Posted June 9, 2015 (edited) What are your answers to the 4 questions below and why? Would you go public and receive the big cheque? What would be the very first thing you did after receiving the money? How much would you give away to charity/friends? What would be your big major indulgence? (house, boat, Bugatti) Note:- Before the typical SF members come on and say "I dont do the lottery cause its just a way for the government to tax the poor" etc Its just a bit of fun, you dont have to participate. No -I wouldn't go public The first thing I would do is retire - it is an option now but I am hesitating because of the financial risk I would give more of it away to my family than I keep for myself and I would give some to my favourite charities Major indulgence would be houses for my kids since they have no chance of getting on the property ladder as they are. ---------- Post added 09-06-2015 at 11:02 ---------- Edited June 9, 2015 by Daven Link to comment Share on other sites More sharing options...
geared Posted June 9, 2015 Share Posted June 9, 2015 I wouldn't go public personally. Saw a documentary on it a while ago, alot of people that go public get inundated with 'begging letters'. Every sod trys it on with some kind of sob story, just to get a few quid from them. Link to comment Share on other sites More sharing options...
JFKvsNixon Posted June 9, 2015 Share Posted June 9, 2015 What are your answers to the 4 questions below and why? Would you go public and receive the big cheque? What would be the very first thing you did after receiving the money? How much would you give away to charity/friends? What would be your big major indulgence? (house, boat, Bugatti) Note:- Before the typical SF members come on and say "I dont do the lottery cause its just a way for the government to tax the poor" etc Its just a bit of fun, you dont have to participate. ---------- Post added 09-06-2015 at 11:00 ---------- I'll go first... I would not go public.....i really dont understand those people who do I would book and trip to the Maldives and not tell anyone to give myself 2 weeks to figure out my next move. Id give £10m away to family/friends/charity Id buy a big house in Alderley Edge for around £4m Generally, i think id spend the next few years travelling and enjoying the high-life. 1 - No way! 2 - Clear my debts and the debts of my family and close friends including the mortgages. 3 - Pass, I decide after I'd sat down with a financial adviser. That's not including what I'd do for No.2 above 4 - Buy something small in Manhattan. Link to comment Share on other sites More sharing options...
L00b Posted June 9, 2015 Share Posted June 9, 2015 (edited) Would you go public and receive the big cheque? What would be the very first thing you did after receiving the money? How much would you give away to charity/friends? What would be your big major indulgence? (house, boat, Bugatti) (1) Never. (2) Offshore it, then clear any and all outstanding finance of family and close friends. Anonymously. (3) Each family member and close friend would be made a non-exec director of a Luxembourg holding company and receive an annual salary, big enough not to worry about future days, small enough not to get into trouble (say £50k). For life. Again, anonymously (they wouldn't ever know I owned the holding and appointed them). (4) Time off. Then 'get to work' on the family home in France, with modernisation throughout, duplex in attic, landscaping, swimming pool etc. - the works. Edited June 9, 2015 by L00b Link to comment Share on other sites More sharing options...
Eater Sundae Posted June 9, 2015 Share Posted June 9, 2015 What are your answers to the 4 questions below and why? Would you go public and receive the big cheque? What would be the very first thing you did after receiving the money? How much would you give away to charity/friends? What would be your big major indulgence? (house, boat, Bugatti) Note:- Before the typical SF members come on and say "I dont do the lottery cause its just a way for the government to tax the poor" etc Its just a bit of fun, you dont have to participate. ---------- Post added 09-06-2015 at 11:00 ---------- I'll go first... I would not go public.....i really dont understand those people who do I would book and trip to the Maldives and not tell anyone to give myself 2 weeks to figure out my next move. Id give £10m away to family/friends/charity Id buy a big house in Alderley Edge for around £4m Generally, i think id spend the next few years travelling and enjoying the high-life. Not go public. Retire, immediately followed by hiring an accountant/financial adviser to help me sensibly manage the money. Probably about 50 to 60% to close relatives, for them to trickle down to less close relatives (or probably direct to the less close relatives on behalf of the close relatives in order to minimize inheritance tax risks - here's where the financial adviser earns his/her keep). Probably about 10% to charity - again using the financial adviser's expertise. A new house and a holiday home. Holiday home still in the UK and within easy reach of home for weekends and small school holiday breaks. But neither would be excessively luxurious - well under £1m for the pair. The rest would be invested long term and safely in a wide variety of risk free investments to provide a financially worry free retirement for me and my wife, and long term financial security for our daughter. Link to comment Share on other sites More sharing options...
Cyclone Posted June 9, 2015 Share Posted June 9, 2015 (edited) What are your answers to the 4 questions below and why? Would you go public and receive the big cheque? What would be the very first thing you did after receiving the money? How much would you give away to charity/friends? What would be your big major indulgence? (house, boat, Bugatti) Note:- Before the typical SF members come on and say "I dont do the lottery cause its just a way for the government to tax the poor" etc Its just a bit of fun, you dont have to participate. ---------- Post added 09-06-2015 at 11:00 ---------- I'll go first... I would not go public.....i really dont understand those people who do I would book and trip to the Maldives and not tell anyone to give myself 2 weeks to figure out my next move. Id give £10m away to family/friends/charity Id buy a big house in Alderley Edge for around £4m Generally, i think id spend the next few years travelling and enjoying the high-life. I'd go public I think. Trying to keep it a secret would be basically impossible, so why bother. Quit work, close up company, have a party for all my friends, on me of course. I've got a spreadsheet somewhere that says how much % to give to various people. Decided in advance you see when it's easy to do because it's just theoretical. Obviously I only get 50% of the win, the wife gets the other 50%, and I think I decided that 10% of my share gets given to friends and family. So that's 4 million that gets split between F&F. So I've got £36 million left in my share. I'd set up 25 million for future income, which leaves me 11 million to spend :-) New house, still in the Sheffield area, peak district probably. New car, maybe 2. Holiday, with selected friends and family invited if they can take the time off. Can't think of anything else that I'd be in a rush to buy/do. The 25 million, if it returns 4%, makes an annual income of 1 million, and the wife should have a similar income. If we didn't spend all of that then the capital should (at current rates) at least not be eroded by inflation. ---------- Post added 09-06-2015 at 11:36 ---------- (1) Never. (2) Offshore it, then clear any and all outstanding finance of family and close friends. Anonymously. (3) Each family member and close friend would be made a non-exec director of a Luxembourg holding company and receive an annual salary, big enough not to worry about future days, small enough not to get into trouble (say £50k). For life. Again, anonymously (they wouldn't ever know I owned the holding and appointed them). You don't think they'd be concerned about money appearing in their bank accounts? (How would you get their bank account details). Or that they'd just figure it out? ---------- Post added 09-06-2015 at 11:42 ---------- Not go public. Retire, immediately followed by hiring an accountant/financial adviser to help me sensibly manage the money. Probably about 50 to 60% to close relatives, for them to trickle down to less close relatives (or probably direct to the less close relatives on behalf of the close relatives in order to minimize inheritance tax risks - here's where the financial adviser earns his/her keep). Anything above 3k given as a gift will still be counted in your estate if you die within 7 years. If you don't die, then it's irrelevant, give as much as you want to whoever you want with no liability. Edited June 9, 2015 by Cyclone Link to comment Share on other sites More sharing options...
L00b Posted June 9, 2015 Share Posted June 9, 2015 (edited) You don't think they'd be concerned about money appearing in their bank accounts? (How would you get their bank account details).I only gave the brief answer, this is just a fun thread, not a inquiry Letters would be sent on letterhead with employment contracts, via a local law firm that can be contacted for queries about the contract and client (but which is instructed to keep schtum about their instructor). Or that they'd just figure it out?They can always ask. And I can always tell them that I too got a letter and employment contract and that no, I don't have a clue either...but I'm certainly avin'it Edited June 9, 2015 by L00b Link to comment Share on other sites More sharing options...
Timeh Posted June 9, 2015 Share Posted June 9, 2015 I wouldnt go public. Id split it 4 ways. 25% each to my 3 fave charities. The remaining 25% would be split equally amongst family. Id then buy myself a nice house in a nice street and be happy Link to comment Share on other sites More sharing options...
Cyclone Posted June 9, 2015 Share Posted June 9, 2015 I only gave the brief answer, this is just a fun thread, not a inquiry Letters would be sent on letterhead with employment contracts, via a local law firm that can be contacted for queries about the contract and client (but which is instructed to keep schtum about their instructor). They can always ask. And I can always tell them that I too got a letter and employment contract and that no, I don't have a clue either...but I'm certainly avin'it Hmm, might work. Or they might just refuse it as being way too suspicious and odd. Link to comment Share on other sites More sharing options...
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