Almost certainly one sibling is going to do more work looking after the parents as they age , get sick and die. Then they are going to feel like they are owed more or more deserving. I saw this first hand and it ruined the relationship between the siblings.
Is it too much? UK EuroMillions ticket-holder wins £111.7m
- Thread starter Baldbloke
- Start date
Soldato
Tell me about it! My parents live 65-70 miles from my grandmother. They did more work in clearing out her bungalow as moved into a care home than my dad’s sister who lives two miles away!
A colleague has a tough time with her parent’s’ health. Her dad needs to go into a care home. Her mum injured herself badly after a fall. One of her sisters said she conveniently booked a two week holiday….
My mum fell out with her cousin as she did sod all to help out when my grandmother died. When her parents (my great aunt and uncle) died my mum did so much for her cousin. I even helped out once as great aunt (g uncle died 18 months previously) as it was 2 weeks before I started my new job after university
Soldato
Answering the actual question, yes it's too much. Too much is focussed on the top prize when it should be better spread across all the prizes.That said, remember that there is also a guaranteed 1m and on Friday there were 20 of those.
Associate
Anyone who thinks that it's too much has no Imagination on how they could blow it in a couple of years.
Decent house near where I live would run maybe 15m, nice house abroad another 5m, place in America 10m, vineyard somewhere 5m. So that's a third of the money immediately. Few nice cars, well stocked cellars, family taken care of Sees half of it gone. Still got the rest of my life to spend the rest. Quite easy!
Decent house near where I live would run maybe 15m, nice house abroad another 5m, place in America 10m, vineyard somewhere 5m. So that's a third of the money immediately. Few nice cars, well stocked cellars, family taken care of Sees half of it gone. Still got the rest of my life to spend the rest. Quite easy!
Soldato
A couple of years, more than doable.Anyone who thinks that it's too much has no Imagination on how they could blow it in a couple of years.
Decent house near where I live would run maybe 15m, nice house abroad another 5m, place in America 10m, vineyard somewhere 5m. So that's a third of the money immediately. Few nice cars, well stocked cellars, family taken care of Sees half of it gone. Still got the rest of my life to spend the rest. Quite easy!
You forgot to add on a modest super yacht and crew for a year is about £5 million.
It quickly disappears.
Plus buying an island, your own private army...
Soldato
If there was £111M of prize money in 1 lotto draw, I'd much rather that 50-60 people share that £111M amount. They would receive 2M if they matched all of the numbers and 1M if they matched via a bonus number. Then the prize fund would benefit 50-60 people/households instead of 1 person/household.
I have the same opinion about the top bankers who are on £16M a year. I'd much rather that 16 bankers all shared the same 1 role, do fewer hours, cover each other, take more annual leave etc, then it means that 16 people will benefit from a yearly £1M salary than just 1 person taking the whole £16M.
I have the same opinion about the top bankers who are on £16M a year. I'd much rather that 16 bankers all shared the same 1 role, do fewer hours, cover each other, take more annual leave etc, then it means that 16 people will benefit from a yearly £1M salary than just 1 person taking the whole £16M.
Soldato
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You wouldnt be close to being able to afford a super yacht
nor a private army. If you invest your money wisely, hopefully your children would be able to.
That's why when I dream of winning the lottery, I never make plans to give money away!
Permabanned
to be fair and honest .. i'd buy 50 houses in my area .. put 50 family's that want to work in them and charge them £300 a month .. nice semi detached .. on the understanding they must save £300 a month or more after 5 yrs they can go and buy a house and the cycle starts again ..
might even do 100 .. £140-160k gets a 3 bed round here ..once bought it's what it is investment ,tax write off ect ect what ever way you want to play it .. some in stocks .. gold (as in bars no paper gold) then enjoy life .. with my wife and kids ..
might even do 100 .. £140-160k gets a 3 bed round here ..once bought it's what it is investment ,tax write off ect ect what ever way you want to play it .. some in stocks .. gold (as in bars no paper gold) then enjoy life .. with my wife and kids ..
Soldato
Oh I meant a modest super yacht. You can get one for about €55 million (not 5!). Nothing on Bezos scale of course.You wouldnt be close to being able to afford a super yacht
If you invest your money wisely, hopefully your children would be able to.
That's why when I dream of winning the lottery, I never make plans to give money away!
I have simple tastes, maybe just something like this
I was kinda trying to point out 100+ mill doesn't go that far. It's either too much for just 'rich' and no way enough for 'properly rich'.
talking of this, are any of you old enough to remember andy carrol, the person who won 9 million on the lottery in 2002 (not the footballer)
How Lotto lout Michael Carroll blew £9.7m on naked waitresses with coke on trays, eight-girl orgies and £2k-a-day on cocaine
WHEN Michael Carroll threw a party, the neighbours certainly knew about it – naked women would carry trays of cocaine and the festivities would descend into an orgy where he would bed eight w…www.thesun.co.uk
blew his load in a matter of years, now back to delivering logs
no idea how you can mess up a win so badly
I remember the lotto lout!
He gave some modest (but presumably quite generous) amounts to others too so perhaps not all is lost for him, if he bought his parents or grandparents some property then presumably that is perhaps going to be passed back to him at some point.
Some people simply aren't functional at a certain level, not that the lotto lout was a full-on smack head/rough sleeper type but he was into drugs and he'd have otherwise been the nightmare ASBO neighbour type on a council estate or low-income neighbourhood.
Even a step up from that most people aren't very numerate and so won't handle a win very well, a financial advisor to simply protect people from themselves is probably useful in most cases + there is the issue adidan has highlighted:
Yup, even 100million isn't as much as people might initially think... the yacht & private jet are probably a bit out of reach... 5 million per year in service costs implies a 25million yacht, Learjet can cost like 10 million and also has high running costs.
I think from 20 million+ to 100-ish million is more the kind of lifestyle most people would associate with being a "millionaire"; at that level you can legitimately buy a big mansion house in the countryside, urban penthouse and supercars + fancy holiday home and spend money day to day like a high earning salaryman/exec without needing to worry about future income + can buy small businesses/be an angle investor etc.
But it's not really enough for your own superyacht and new gulfstream so given that , I think the euromillions prize is fine, the higher 100million+ prizes are simply a function of rollovers but in a regular draw you really want to be winning an 8 figure amount not a 7 figure amount if you want to feel like a "millionaire".
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That would cost 160+ million to pay out for 3 numbers the last draw with 9 higher prize levels above it and 2 billion+ if you wanted that payout for 2 numbers so doesn't seem very plausible.
I mean if you could get £1000 for betting £2.50 and drawing 2 numbers (1/22 chance) then that would be a fantastic bet and I'd rush out an buy thousands of lottery tickets but anyone offering that would be out of business pretty quickly.
Soldato
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LOLI remember the lotto lout!
He gave some modest (but presumably quite generous) amounts to others too so perhaps not all is lost for him, if he bought his parents or grandparents some property then presumably that is perhaps going to be passed back to him at some point.
Some people simply aren't functional at a certain level, not that the lotto lout was a full-on smack head/rough sleeper type but he was into drugs and he'd have otherwise been the nightmare ASBO neighbour type on a council estate or low-income neighbourhood.
Even a step up from that most people aren't very numerate and so won't handle a win very well, a financial advisor to simply protect people from themselves is probably useful in most cases + there is the issue adidan has highlighted:
Yup, even 100million isn't as much as people might initially think... the yacht & private jet are probably a bit out of reach... 5 million per year in service costs implies a 25million yacht, Learjet can cost like 10 million and also has high running costs.
I think from 20 million+ to 100-ish million is more the kind of lifestyle most people would associate with being a "millionaire"; at that level you can legitimately buy a big mansion house in the countryside, urban penthouse and supercars + fancy holiday home and spend money day to day like a high earning salaryman/exec without needing to worry about future income + can buy small businesses/be an angle investor etc.
But it's not really enough for your own superyacht and new gulfstream so given that , I think the euromillions prize is fine, the higher 100million+ prizes are simply a function of rollovers but in a regular draw you really want to be winning an 8 figure amount not a 7 figure amount if you want to feel like a "millionaire".
Amid the orgies he briefly dated waitress Gemma Pearce, who revealed he would ravish her when she got home from her job at the Little Chef.
She said:“I think the uniform was a big turn-on. If I came home smelling like a chip pan he loved it.”
IIRC he did, a house for his parents. BICBW.
Yes, instead of a lump sum you need to think of it as a fund that generates an income, in this case of around £2M / year. And having worked at Gulfstream - albeit many years ago - I can tell you that I don't believe an annual income of £2M is going to get you very far. At that income level you rent a jet when you need it. And really you don't need a jet 7 days a week so there's no need to own one. You have a concierge service where you ring a factotum who arranges it all for you.
Soldato
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It’s good the way it is IMO
I’d do the following -
50% instantly be going into different stocks that I like.
20% would be going into sp500 and ftse
20% into properties to rent.
5% gifted to family
2% would be set aside for my house with 20% of that going into a savings account to pay for tax/electric etc
2% would be cash flow
1% would be holidays, so that’d be £1m+ to travel all around Europe, I’d either do it in a Hilux or the motorbike - would visit and hopefully spend at least a week in every country, Vatican would be hard. See every world heritage site in Europe. Spend >2 years, taking in everything. Then go chill in say Australia for a while.
Then off to the states to travel there, another epic road trip.
Would be visiting every single heritage site in the world as well.
Ah the dream. Might stick a ticket on this week.
I’d do the following -
50% instantly be going into different stocks that I like.
20% would be going into sp500 and ftse
20% into properties to rent.
5% gifted to family
2% would be set aside for my house with 20% of that going into a savings account to pay for tax/electric etc
2% would be cash flow
1% would be holidays, so that’d be £1m+ to travel all around Europe, I’d either do it in a Hilux or the motorbike - would visit and hopefully spend at least a week in every country, Vatican would be hard. See every world heritage site in Europe. Spend >2 years, taking in everything. Then go chill in say Australia for a while.
Then off to the states to travel there, another epic road trip.
Would be visiting every single heritage site in the world as well.
Ah the dream. Might stick a ticket on this week.
Associate
Coutts & co is where the super rich put there money. This is where the Queen kept her money and so I would assume its the Royals bank.
There is of course others in Monaco and of course Swiss bank account's are legendary.
There will be equivalent banks all over the world but when you have that kind of money it tends to go abroad where the tax man cant touch it.
If you win that kind of money the National lottery have financial experts who advise you on your best course of action.
And there's the best advice, tell no one, except close family but lie about how much you win.
You can look after them but they should never know the truth as it will just come back on you with them wanting more and more, its just common nature, greed would get the better of them, and they would actually feel entitled to more.
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Soldato
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That does look rather nice, I will bookmark it, for when I win!
Soldato
Lol I wish I'd not looked. I've gone from thinking there should be more smaller prizes to thinking £100+million isn't big enough
Soldato
Fortunately, I don't have any family or friends. Moo ha ha haaaa!
But, seriously, I have a brother and a sister, and they would benefit. Even though I know full well my brother wouldn't reciprocate, I feel inclined to help him out. My sister would blow it all in a year, but what the heck, that's her decision. Reminds me of how many times I have heard people say "I wouldn't give such-and-such a penny, they would just waste it". Yeah, but they would be happy for a while!