Is it too much? UK EuroMillions ticket-holder wins £111.7m

Baldbloke

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Uther said:
I wouldn't say no to that amount, truly life changing. It got me thinking, where would you actually put that amount of money? I assume there are specialist banks for super rich people.
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Well, i'm no expert in handling that amount of money. Wish I was but that huge sum must bring worries with it too. Financial "advisors" ripping you off more than likely.
 

Doobedoo

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Uther said:
I wouldn't say no to that amount, truly life changing. It got me thinking, where would you actually put that amount of money? I assume there are specialist banks for super rich people.
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images
 

Personality+

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No lottery win is too much.

There are people with a networth in the hundreds of billions.

They shouldn't even have a limit on the euromillions rollovers which I believe is 250-280 million euros range.
 

Nitefly

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It can never be too much money, as you can always give it away.

However, the amount is so large I’d almost consider ‘winning’ it to be an onerous responsibility. Just imagine all the amazing things you could do, even for just a few unfortunate people. How do you choose?

My pipe business dream would probably be to ‘kick start’ a decent UK theme park as what we have here is relatively terrible, but sadly I think that amount would barely touch the sides :(
 

MichaelAwkward

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adidan said:
I would probably enter more if it was like 100 x 1 million wins.

Still won't buy you a house in a few places
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This is why I chuck £10 a month at the Thunderball. Smaller prizes but better odds. Top prize of £500k would be enough for me.

Trouble with winning mega millions is the hangers on who would emerge from the woodwork and the sense of needing to give it to worthy causes and having to decide which. I wouldn't want to deal with that.
 

beachBOYken

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MichaelAwkward said:
This is why I chuck £10 a month at the Thunderball. Smaller prizes but better odds. Top prize of £500k would be enough for me.

Trouble with winning mega millions is the hangers on who would emerge from the woodwork and the sense of needing to give it to worthy causes and having to decide which. I wouldn't want to deal with that.
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I wouldn’t go public if I won, I would certainly give some to charity though.
 

Stu999

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No, it’s not too much. It’s a lottery not a communist utopia :p “What if they give 111m people £1?”

Baldbloke said:
Well, i'm no expert in handling that amount of money. Wish I was but that huge sum must bring worries with it too. Financial "advisors" ripping you off more than likely.
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The lottery has their own team of financial advisors that winners can choose to use.
 
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Semple

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Tricky one really. I suppose it's akin to the same question the US winners face - do you accept a lump sum with tax on top, or accept it as a kind of annuity - not sure if this was tax free.

Winning 100mil+ is truly life changing, that puts you up there with a host of successful business people or actors/singers etc.

As sad as it sounds, in my thirties a million quid wouldn't really be life changing. It'd provide some financial security - i.e. paying off mortgage. But by the time you've bought a nice car and maybe a few luxury holidays it's pretty much gone - and the car will have an upkeep cost. So really it's just pay for the mortgage, a few smaller luxuries, and then invest the rest for retirement.
 

Spannerhead

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Winning the lottery is actually a common curse

www.youtube.com

Why Winning The Lottery Is The Worst Thing That Can Happen To You

What happened to the lottery winners in the past? Is winning the lottery actually a curse? How do people pick the winning lottery numbers? What if you won th...
www.youtube.com www.youtube.com

and

www.mirror.co.uk

Lotto curse - Brits whose lives were destroyed when they became millionaires

It seems like it would be the answer to many of life's problems, but a high-profile lottery win can quickly become a nightmare - as it did for these Brits after their numbers came up
www.mirror.co.uk www.mirror.co.uk

it seems that the money and power goes to peoples head and they seem to destroy themselves

I don’t blame them. Most people have no idea what to do with all that money.

worse thing is , even if you don‘t go public with your winnings people will find out you won any way. And everyone ( no matter how two faced they are ) You knew will ’suddenly ‘ want to become your best friend regardless of how much you
Hated them previously. Then you will get the constant scrounging loafers demanding money for problems that have suddenly come out of thin air

I don’t play lottery because you have more chance of being struck By lighting whilst being eaten by a shark whist finding a four leaf clover in the same day than winning the big one

but if I did I would buy a island in the middle of nowhere and become a hermit . hopefully no one will find me there
 

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Nitefly said:
However, the amount is so large I’d almost consider ‘winning’ it to be an onerous responsibility.
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Now consider those who run £100M businesses: all those people for whose livelihoods you are responsible. And remember, that £100M is only going to give you a sustainable (after fees and inflation) income of about £2M. Before tax. (This is why wealth taxes are a bad idea.)

Spannerhead said:
Winning the lottery is actually a common curse
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You only really hear of the disasters.

Spannerhead said:
I don’t play lottery because you have more chance of being struck By lighting whilst being eaten by a shark whist finding a four leaf clover in the same day than winning the big one
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I do play - not every time - but for me the lottery is entertainment.

Spannerhead said:
Then you will get the constant scrounging loafers demanding money for problems that have suddenly come out of thin air
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One lottery winner had a good way of dealing with people asking for money for their business ideas: he'd ask them to send a business plan to his investment manager.

Spannerhead said:
but if I did I would buy a island in the middle of nowhere and become a hermit .
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You might be better to buy a place in London and spend your time in the private members' clubs like the Carlton & the Caledonian with trips here, there, and everywhere to enjoy your wealth. No one is going to take particular notice of a decently dressed man or woman.
 

Mysterae_

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It does change people. When the national lottery first started, I had a friend who won almost a million they and instantly cut ties with everyone. Before the win he and his wife didn't work so they weren't used to that sum of money and I presume he was scared that people would come hand-in-cap. He bought a house, a car, the usual. 20 years later he pops up on Fudbook and says "hi guys!".

Is £111m too much? Probably. For some people winning £100 is too much.
 
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