Investing millions

agnes

agnes

agnes

Soldato
Joined
1 Dec 2006
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Amsterdam, NL
So, let's say tomorrow you win the lotto rollover (£42mil), yea sure, you pay off debts, buy a nice car, nice house. If you're tight like me, hand out a mil to both parents and half a mil to my sister (if I'm feeling generous).

So, let's say I'm left with £30 mil after having my initial splash out as do you. What would you do with said £30 mil?

Where would one invest such an amount? How would you even go about investing in? So many areas to put it into, and let's say you get a very low but realistic 1.5% growth on it per year. That's still £450,000. Does tax play a part in this? It's not earn't money, it's simply investment. So you could give your self an insane £37,500 a month! Which obviously is stupid, considering you initially paid off all debts, bought a car and bought a house outright at the start. I'd still work as I would not want to go insane. So I'd only take £10,000 a month personally which is more than enough to live comfortably in my opinion.

I don't have children by the way, so lets assume you don't either.

Just baffles me how those who win the lottery run out of money... Oh, I'm no finance guy, so my 1.5% is probably way off, as is my assumption of tax. Who knows!
 
I guess this is where personal wealth management firms come in to help you invest and make money from your capital. And as Freakbro says, yes you do pay tax on interest from savings.
 
You do pay tax on the interest earnt since it's income.

I can see people burning through it either by buying loads of crap they don't need or (which is probably what I would do, but hopefully smarter if I ever won (or you know, even played)), invest in startups/ventures that end up flopping.
 
I'd finish what John Carmack could not, by building a working rocket to get to Space with. I'd then twerk while in orbit and become the first civiliian to ever twerk in space.

Books will be written about the event.
 
£30mil will get you around a 7% return after tax.

Money makes money.
 
mrk said:
I'd finish what John Carmack could not, by building a working rocket to get to Space with. I'd then twerk while in orbit and become the first civiliian to ever twerk in space.

Books will be written about the event.
Click to expand...

Star Twerk: First Contact.
 
You would also pay tax on any gift of over 3k. So you can't just give people large sums of money. You could just give them a credit card to live on and you just pay the bill. I'm assuming there are ways round it.
 
Moses said:
You can give someone £1 000 000 000 000 000 000 00 and no tax would be paid, as long as you stayed alive for seven years :p. If you die within seven years then there's inheritance tax to worry about when gifting over the various 'limits' (although it tapers down over those seven years).
Click to expand...

On looking it up, you're right.

I could imagine the person who got given the million would hire a bodyguard/medic to make sure you live for at least the 7 years. :)
 
For me, I'd buy my parent's house, my brothers house and my own out right.

And a warehouse - or unit - of some sort, big enough to have 4-8 car's in it + cleaning area.

And then retire....... And live however I want
 
On second thoughts, just got a free birthday Euromillions ticket today, if I win, nobody will ever know :D
 
Rammix said:
On looking it up, you're right.

I could imagine the person who got given the million would hire a bodyguard/medic to make sure you live for at least the 7 years. :)
Click to expand...

Technically even if you die within 7 years it's just incorporated as part of your Estate and thus is included as part of the taxable amount.

On topic:

I'd probably start up a buy to rent company or similar.
Maybe even Rent to Rent:

Buy / Rent apartments in high profile city centre areas, fully furnish them and rent out as furnished short lease apartments for city breaks, contractors etc.
 
Pay off any debt, but family members houses/pay off their mortgages, few cars etc.

Even with 30mil left if you shove it in a crappy 2.5% fixed rate ISA you'd get ~ £750,000/year

Happy days.
 
When it comes to spending the money I think the great George Best had the right idea, he said “I spent a lot of money on booze, birds, and fast cars. The rest I just squandered.”
 
Some low risk investments that would give a reasonable return that I had to put in no effort at all to manage. Change my name, remove myself from the internet, get new rich friends and move somewhere else to escape all the beggars.
 
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