If you won a £1,000,000, what would yo do with it?

Half would instantly go to charity. The rest would go towards paying off my parent's debts and the few pennies that would be left would go on a new music setup for me. :cool: :)
 
I love the 1 million isn't really much nowadays comments, credit really has been too easy to come by this last decade plus silly house prices :D


I'd buy a modest first house, sort my family and close friends out with a few bob. And pursue a few part time earning ideas to keep me on my toes.
 
I would pay off all my debts. by me a house. and a decent car for work (prob a M5 or M6) :D

pay off parents morgauge. and just generally live it up for a bit. o and save someone in ISA or something
 
Retire at 28 and invest the money very wisely.

Once I had the money in high interest accounts and invested for good return I'd get my girlfriend to quit her job and probably go traveling for a few months. I'm a man of simple pleasures and would have no urge to splash out of anything materialistic. I would possibly go back to university and study the subjects that interest me but have no real business applications like theology.

Other than that I would travel to see the bands I like, keep training martial arts, keep fit, eat well, go for long walks, cycle, spend more time with family and friends....etc etc

I know what makes me happy and most of it doesn't cost a lot.

I't would however be a fantastic feeling to give my mates a cheque or take them on holiday.
 
markyp23 said:
Not really that much. At 5% interest it would be £961 a week BEFORE tax. £50k a year gross salary in addition to the £1m lump sum. Plently of people on that sort of money wouldn't consider themselves "millionaires".
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No, but then they're not getting that kind of salary from interest.

I'd invest ~£800,000 of it, spending the rest on luxuries and family.
 
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Go visiting a few people and places.

Probably in this order: Switzerland, Washington DC, New York City, Panama, Cuba, Rio De Janeiro, Sydney, Singapore, Guangzhou, St. Petersburg, Stuttgart, Cape Town, London.

Then I'd work out what to do with the rest of my life.
 
Interesting comments made so far. I would personaly slap it in a bank/invest whatever! Get the interest debited to a bog standard current account on a monthly basis.

For example (I know these figures are not right but just for arguments sake, please:rolleyes:)

£1m in bank @ 5% = £50k = £961 pw minus whatever the tax will be, say I end up with £3000 a month. That will do nicely ta very much.

Get a mortgage for a house somewhere nice, take off all the utility bills probably be left with around £1000-£1500 a month to do with as I please. That will be more than enough for me.

I could spend time decorating the house, having a few days break here and there during the month. Its all good. I probably be pushed to use all the spare money every month so it will carry over to the next one. After 2 or maybe 3 months I could possibly have an extra £2k spare, nice holiday for a few weeks.

£1m is deffinatly enough to live on comfortably for the rest of your life. Like some have already said, I would get a job too. Something I would like maybe a small butchers shop/deli in a nice location.
 
Give a decent amount to my parents to pay off the mortgage and treat themselves. Spend about £30k on camera kit, clothes and other kit. Then use the rest to travel around the world taking pictures, occasionally helping good causes out as I come across them on my travels. :)

Edit; And the money that I haven't spent yet while im traveling would sit in a high interest account, as I could probably do a decent amount of traveling on the interest.
 
Invest it as most have said and allow some interest to accrue.

Get a nice house with a mahooosive garden and then get two dogs, a staffie and a choccy lab, as well as a cat. Tell my wife she doesnt have to work full time again.

Start making babies as soon as possible, baby girl first then two boys and no more :)

No major parties or anything because I dont drink myself and I dont particularly believe in spending money on feeding people who I havent seen in ages and probably wont see again in ages.

Go on holiday starting with Busch Gardens Florida and then finishing at Tongsai Bay Koh Samui (where we went on honeymoon :D).

Lots of family time, work part time. Be a good dad. Give lots of time to my pets too :)

Theres loads I could do without actually killing off much of the money. Simple man with simple needs :)
 
I'd live off the interest for the rest of my life seems silly not to even £500 a week would be enough for me.
 
N9ne said:
£900,000 into no-risk investments. I'll trade £100,000 on CFDs and FX. I figure with that much capital, I can afford wider stop-loss/limit spreads so should be able to triple/quadruple that in a year perhaps - then £400,000 the next year, do the same. Keep doing that for a decade. Live off the interest on the £900,000 for the time being and also hold down a job in the City. Then retire in ten years time with way more than £1m!
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This guy comes across as a loser.



Energize said:
That was just a rough estimate. You only take off 40% tax after you've reached £40k.

6.5% of 1,000,000 is £65k.

£5,434 of that is not taxed, (more if your allowance is higher).
£2,230 is taxed at 10% so £223
£32,370 is taxed at 20% so £6,474
£24,966 is taxed at 40% so £9,986.4

Leaving £48,316.6 or £132.37 a day. And you can be happy that you are avoiding loads of tax that you would have to pay if you were earning this money, like national insurance.

8.5% interest would be £165.25 a day.
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That guy knows what he's talking about <3
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If I had £1m, id be happy :)
 
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