Euromillions

Spenty said:
If you can't make yourself, your family and your friends rich with 10 million you're doing something wrong. You may not be able to do it straight away but buying into the right investments you could probably make 100's of people rich from 10 million after a few years.
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Really? 100s? What's your definition of rich? 100s is more than 100, lets say 200. 200 divided by 10 mil. Is 50 grand for each person. That's not a lot of money to be rich now. Maybe enough for a down-payment but that's it. Or one nice car. That's not rich at all.

Even 100 people, that's 100k pp. Yeah you might have a fun year or two, but then it's back to reality.
 
If you buy houses out to rent surely it wouldn't matter too much if they drop in value over a period as the rental income for that property wouldn't change would it? Or am I missing something.
 
The only times that matter if a house drops in value is if you are wanting to sell or you cannot keep up the mortgage payments. If you plan to keep your house forever and you can keep the mortgage paid (or there is none) then there is no real issue if the price drops.
 
Buy **** 3-5 bed flats in cities. Rent them out to students. No maintenance costs and you can charge them a fortune per room. And then scam them out of loads of money when they leave.


I had a bad experience.


50-100m would make me forget.
 
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Richdog said:
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Just bought 10 tickets.

Oh the joy if i win. Straight down the car shop!

It's good reading these threads i find as there is a lot of sensible ideas on what to do with said amounts of cash.

I wouldn't really know the first thing about where to put the money, i mean are there special bank accounts for millions or you just stick it in your local Halifax account lol

I'd be so unprepared if i won tomorrow :o
 
Win a million, invest most of it.

Maybe keep 250k, buy a house/car a nice holiday, then invest the rest, at 6% APR the compound interest on 750k over 30 years would be something ridiculous like 4.3 million.

Retire with a boat load of money to basically sort out the rest your life and your families lives.
 
First thing I'd do is sort out some of my closest friends and family in terms of property and then go on a tour of the world with my girlfriend, see and do everything we ever wanted to do before coming back and investing the rest.

But then it depends on how much you win I suppose. 1 Mill Id buy a nice house and continue with my day job.. anything up to 2mil id consider quitting and starting my own business. Anything after 2 Mil id out right quit and do the above.
 
With that £105 million I certainly wouldn't give anyone any cash. Self-sustainability is key!

I'd buy the parents a new place, let them sell there's (or vice versa to avoid certain taxes) and then let them live off the profits of their current house for however long.

I wouldn't give any cash to charities. I'd set up a charitable trust and whack £30mio into it. Try to get a sensible ROI of 2-3%, and dole out the profits on a yearly basis to either my preferred charities or to those who apply. If it's 3% of £30mio on a yearly basis, that would mean giving out £9mio every ten years but still retaining the initial £30mio. I think...

Thirdly, and I'm not sure how legal this is, but I'd setup a property firm, and buy property which would then be let out to family (and perhaps friends), but with the intention of selling the property on at a profit at a later date. I.e. an investment opportunity (but with an unofficial tennant in the meantime).

Lastly, I know if I gave a million quid to my younger sister she'd have spent it within a year and have nowt to show from it. I'd encourage my family and friends to come up with viable business proposals in their current or chosen fields, and then aim to run healthy businesses off the back of it. If they're affectively living rent free, and getting to benefit from my various holiday homes (one of the first things I'd buy!;)) then they'd be able to live off the profits of the businesses.

I'd also shamefully guinea pig off the back of my various friends' successes and expertise by setting up firms for them to run and expand.
 
Turns out I had some money left in my account.
I've won more times than lost on euromillions (only the lowest prize mind) so heres hoping luck continues
 
Moses said:
It's stupid to instantly whack tens of millions into a charitable trust - wait until you've paid some tax, then any money you put in can be boosted with gift aid (the charitable organisation can't claim more gift aid than tax you've paid, iirc).

I'd set up a foundation, but I'd feed money to it in a sensible way... rather than just shoving tens of millions in at the start.
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I see, so if I set up my own trust and placed funds in there I'd have to pay tax on transferring the money across? I understood that by establishing a vehicle as a charity you automatically received tax relief on funds therein. Seems a bit silly that a charity fund can automatically lose 20-30% of funds under management through tax simply by being created and have money placed in it!
 
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