Investing millions

Thekwango said:
do you not think that's actually a bit of a burden to heap on your parents?
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What burden?
I fail to understand how money is a burden....
Sure if the guy you quoted actually means that his parents would deal with family/friends begging for money that's alittle silly, but the simple solution is to just....you know....tell them to not give money to anyone?
Or even limit them yourself to £50k per year or something, you control the bank account if your that paranoid.
Money is not a evil thing that has a massive weight attached to it, just use common sense and don't spend £££'s on holidays, stupid cards, boats for no reason etc. Just live a comfortable life.
 
Given the price of care there's no such thing as too much cash in your old age! Why can't the elderly have a bit of a binge if they get the chance? I know people who said they should shoot people over 75, my own mother was one of them. Come to 76 and the first twinges she got, she'd want to go to Mount Sinai Hospital for some decent private treatment ;) At eighty plus she had an expensive toy boy driving her about she found from an ad in the local paper! Good luck to the old folk, that's what I say.
 
You need to change yourself to manage the money, but not change your lifestyle much else you will come crashing back to your current state or below in a lot shorter time than you imagine.
 
Im pretty sure I could manage the money perfectly well, with a little advice. Its the associated loss of friendships/jealousy/family disputes/begging/scroats that would taint it all.
 
MatsyLR said:
What burden?
I fail to understand how money is a burden....
Sure if the guy you quoted actually means that his parents would deal with family/friends begging for money that's alittle silly, but the simple solution is to just....you know....tell them to not give money to anyone?
Or even limit them yourself to £50k per year or something, you control the bank account if your that paranoid.
Money is not a evil thing that has a massive weight attached to it, just use common sense and don't spend £££'s on holidays, stupid cards, boats for no reason etc. Just live a comfortable life.
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what burden? not sure if serious or not, but it has been shown in a prior link in the thread that there clearly is a burden attached to money - though not all may suffer from it. personally begging family/friends and all that wouldn't bother me, but I get that it would some folk.
so I think just passing that burden on to your folks of who to pass out money to in the family isn't really the best/fairest way to go, unless of course you are 100% certain they won't be fazed by it
 
Pay off debts, give some to parents and family, buy a bigger hme. But that would leave me with way more than £30m.

But following the OPs rules, if I had £30m.

I'd buy outright 10 or so properties to rent out in London. That might be what maybe £5-6m only? I'd make the rent on the lower side of the market as the income wouldn't be that important. I'd still average around £12-15k per month or so. Which is more than ample. I'd put £10m or so into some sort of investment trust or fund.

That would leave me with a few cool million in a suitable bank account even if it doesn't offer a huge amount of interest will be reasonable.

So all in all reasonable amount of income meaning I won't have to work!
 
The problem is that without the advice of someone who knows about handling that kind of money where would you invest your "nest egg" (Assuming you didn't fancy the buy to let property market)?
 
Thekwango said:
do you not think that's actually a bit of a burden to heap on your parents?
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Not really, as I don't really have much to do with the 'extended family' (ie aunts/cousins etc) and only really have contact with parents/nan on a regular basis I don't really care if they get any money full stop and I very much doubt they'd give me any if they won.

My parents on the other hand do have more contact with the 'parent age' family so if they feel some could do with some money they can give them some... It's not like I'd ever let my parents/nan run out of money :)

Plus I wouldn't go 'advertising' the fact I've won anyway so unless we tell someone they wouldn't know :)
 
lsg1r said:
Yeah I would.... it's not like they haven't raised me etc is it and besides I did say they'd be the ones dealing with giving money to the rest of the family so 10mil is pretty good value to stop the rest of the family coming to me :D
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this is why you'd want to take some financial advice

people suggesting giving millions straight to their parents are just opening themselves up for an inheritance tax bill of a few million further down the line.... even if they were to give some away they're still likely to have assets well above the threshold when they die

there are other ways of taking care of people from keeping ownership of large assets yourself through to setting up trusts etc..
 
dowie said:
this is why you'd want to take some financial advice

people suggesting giving millions straight to their parents are just opening themselves up for an inheritance tax bill of a few million further down the line.... even if they were to give some away they're still likely to have assets well above the threshold when they die

there are other ways of taking care of people from keeping ownership of large assets yourself through to setting up trusts etc..
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Obviously what we're putting here is a simplified outline to things, anybody with an ounce of common sense would go find someone who can help us find as many loopholes as possible like any normal rich person... :)

IIRC (don't quote me as I'm not sure where I read this) if I'm listed as part owner of a property then theres less inheritance tax, if any, on it if another owner dies, so you could be part owner of your 'parents' home.
 
Mynight said:
Aye pay tax in another country whilst using our lovely public services. That'll help things.
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Maybe the government should make Amazon, Starbucks etc pay taxes, and then thus lowering ours, my school struggles to get pens in the ENGLISH department, and they wonder why there is so many silly people in the world (idiots)...
Also, maybe, try not bombing and invading other countries for their oil, and also giving hundreds of millions to India every year as part of some development thing... Look out for our own first, but yet they expect us to pay more for poorer benefits? They are shutting down hospitals and opening massive ones in the middle of nowhere so its harder to get treatment and limiting school budgets, but yet MP's have such a hard life on 100k ish a year that they need a pay rise?!
This is coming from a 16 year old, who isn't blinded by the media and goverments poo, its not the immigrants fault we are blowing their countries up why shouldn't they be let in? Its OUR fault, then all the racism?? Whats that all about? I have never met a suicide bomber in my life, but yet everyone that is brown skinned is ******* ISIS!?! Boils my blood, and again, I'm a middle-class white, 16 year old, and yet im not blinded by all the racism that is going on.
ANYWAYS, went off topic, if I won it now, at 16 I would invest about 5-10 million in gold, that is a 7% increase each year, and then put a large amount in a long term saving account until im in my late 20's/early 30's and just buy the most uber duber computer money can buy, just because I can.. Also the biggest house in the area around my school, thats about 800,000 ish and then some nice cars for me to mess around with and drive when im 17 and a nice downhill bike because why not :)
I would take care of who has taken care of me, such as Nana's and granda's, parents and then close external family, such as my 3 aunties (who bothered with me), close cousin who i grew up with and then I would keep the rest for myself really...
 
I can see the current jackpot ending up going to people who only get 5 numbers and them all getting less than a million each. Half the time nobody is even getting 5 numbers+the bonus ball anymore since they added the new numbers to the draw.
 
theaterix said:
Maybe the government should make Amazon, Starbucks etc pay taxes, and then thus lowering ours, my school struggles to get pens in the ENGLISH department, and they wonder why there is so many silly people in the world (idiots)...
Also, maybe, try not bombing and invading other countries for their oil, and also giving hundreds of millions to India every year as part of some development thing... Look out for our own first, but yet they expect us to pay more for poorer benefits? They are shutting down hospitals and opening massive ones in the middle of nowhere so its harder to get treatment and limiting school budgets, but yet MP's have such a hard life on 100k ish a year that they need a pay rise?!
This is coming from a 16 year old, who isn't blinded by the media and goverments poo, its not the immigrants fault we are blowing their countries up why shouldn't they be let in? Its OUR fault, then all the racism?? Whats that all about? I have never met a suicide bomber in my life, but yet everyone that is brown skinned is ******* ISIS!?! Boils my blood, and again, I'm a middle-class white, 16 year old, and yet im not blinded by all the racism that is going on.
ANYWAYS, went off topic, if I won it now, at 16 I would invest about 5-10 million in gold, that is a 7% increase each year, and then put a large amount in a long term saving account until im in my late 20's/early 30's and just buy the most uber duber computer money can buy, just because I can.. Also the biggest house in the area around my school, thats about 800,000 ish and then some nice cars for me to mess around with and drive when im 17 and a nice downhill bike because why not :)
I would take care of who has taken care of me, such as Nana's and granda's, parents and then close external family, such as my 3 aunties (who bothered with me), close cousin who i grew up with and then I would keep the rest for myself really...
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Hang on why did you just go off on one at me over that comment? I never alluded to anything that warrants the content of your post :confused:.
 
NexusK said:
I can see the current jackpot ending up going to people who only get 5 numbers and them all getting less than a million each. Half the time nobody is even getting 5 numbers+the bonus ball anymore since they added the new numbers to the draw.
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5 numbers netted you the princely sum of £1,540 last night; quick! get Zurich on the phone, I need to open some bank accounts :p
 
I didn't want to generalise :D.

Just surprised at the response.

I look forward to ignoring his SJW YouTube channel in a few years.

I guess being 25 I should also add I don't know any 16 year old boys :D. (Or younger :p)
 
Mynight said:
I didn't want to generalise :D.

Just surprised at the response.

I look forward to ignoring his SJW YouTube channel in a few years.

I guess being 25 I should also add I don't know any 16 year old boys :D. (Or younger :p)
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lol, sorry certainly wasn't trying to imply you did know any 16 year old boys......in that way ;)!

I'm quite happy to generalise 16 year old lads. they are all for pretty much the most part, know-it-all, know-nothing numpties! :p
 
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