Happenstance Posted August 27, 2016 Posted August 27, 2016 Having been very unhappy with my life and job situation lately I've found myself fantasizing more and more about winning the lottery so I could leave it all behind and it got me wondering. What would you do if you won £1 million? Would you try and live off it for the rest of your lives with investing and interest while quitting your jobs? Would you keep your jobs and just spend it on expensive stuff now?
Ashley Posted August 27, 2016 Posted August 27, 2016 Can I throw in an additional question? (not that one) Assuming this is a lottery win, would you go public with it? I've always said I wouldn't because there are far too many unscrupulous skeletons in my family closet. As for the money? Holiday, maybe permanently move somewhere? Probably buy my mother a house too.
Nolan Posted August 27, 2016 Posted August 27, 2016 I don't play so I wouldn't win, but for funsies. Pay off my truck and car (not bloody much), buy a moderate house with land(300k ish) and continue working my job as I already do. I'd likely buy some other various knickknacks and electronic type shit. (Big ole 4K and games I won't have time to play). Simple fact is I've got 30 years until retirement age and 1 million wouldn't be enough and wouldn't last, and is less than a full lifetime of wages. Granted I wouldn't work overtime any more, and likely would only do about 800 hours a year instead on close to 2000 like current. I'd just try to be comfortable basically. Edit, public doesn't matter to me. I can happily be enough of a cunt to tell people to piss off if they're just trying for money.
Happenstance Posted August 27, 2016 Author Posted August 27, 2016 Can I throw in an additional question? (not that one) Assuming this is a lottery win, would you go public with it? I wouldnt have it announced to the media as with some lottery winners but I wouldnt necessarily go out of my way to hide it from people who know me.
Ashley Posted August 27, 2016 Posted August 27, 2016 Hmm yeah that's a better way of putting it. I wouldn't not tell anyone, but I certainly wouldn't want it in the media. My family has had enough news reports written
killthenet Posted August 27, 2016 Posted August 27, 2016 I would love to open a really high spec retro gaming store where I wouldn't have to worry too much about turning a profit and could instead offer a great range of products and good customer service. I think i'd probably need more than £1m to manage it for anything longer than a couple of years though, especially if I wanted an arcade room too. I definitely wouldn't go to the press about it, but I would tell my family and a couple of close friends if I won. It'd mostly just be nice to not have to worry about money and be able to spend my time learning new skills and doing creative projects.
Mr-Paul Posted August 27, 2016 Posted August 27, 2016 £1m isn't anywhere near enough to give up work for. Maybe if you were 60, you'd retire early, but if you're in your 20s, £1m won't go far. Would probably buy a house, maybe two. One in London, one in Southampton. Or maybe one abroad. That would take up most of the million. Would spend the rest doing some fun stuff like travelling, and put some away for emergencies. £100m would be a completely different question!
Happenstance Posted August 27, 2016 Author Posted August 27, 2016 £1m isn't anywhere near enough to give up work for. Maybe if you were 60, you'd retire early, but if you're in your 20s, £1m won't go far. Yeah thats kind of the point of this question. £1 million sounds like a lot but it would completely depend on what you did with it. I think you could give up on work with it but I think you would end up having a slightly below average yearly salary if you were trying to spread it out evenly.
Raining_again Posted August 27, 2016 Posted August 27, 2016 If i won a million I would pay off my mortgage, (64k), small extension on house to make kitchen bigger... new car (maybe), and I would go part time. I would tell people i won 100k, paid for the above, and can now afford to work part time with no mortgage.
Fierce_LiNk Posted August 27, 2016 Posted August 27, 2016 Nothing would really change that much for me, except that I wouldn't have that constant inner worry about money. I'm not very money-orientated or obsessed with it at all. I wouldn't suddenly start buying loads of flashy gadgets and cars. I enjoy my job, so I'd still stick at it either full time or close to it. I'd spend the money probably purchasing a property and making that into our dream home, although building one from scratch would be great. There's a few nice things here and there that I've got my eye on that I'd like to purchase, like an electric drumkit. But, that's more down to current circumstances as to why I haven't purchased one yet rather than money. As for telling people, I'm really not that bothered either way who knows and who doesn't. I already know which family members and friends I hold close and I'd like to think that I'm pretty good with being able to tell who's genuine and who is just after the money. There's a lot of false people out there.
Goafer Posted August 27, 2016 Posted August 27, 2016 There's only one correct answer really: Except maybe replace the coins with notes.
bob Posted August 27, 2016 Posted August 27, 2016 Hmm yeah that's a better way of putting it. I wouldn't not tell anyone, but I certainly wouldn't want it in the media. My family has had enough news reports written ......go on...?
Nolan Posted August 28, 2016 Posted August 28, 2016 ......go on...? I'm guessing unorthodox cloning experiments and genetic manipulation. Attempting to create a more perfect Forum Admin. Sorta like Dragonball Z and Cell being the perfect fighter.
Emerald Emblem Posted August 28, 2016 Posted August 28, 2016 Personally, I'd likely put like £100,000 into a high-interest savings account and forget about it. I'd spend a decent amount on a house, spend some on a trip to Japan with some friends and the rest would go on frivolous stuff like a high end PC/Laptop as and when it took my fancy, would still work naturally.
Londragon Posted August 28, 2016 Posted August 28, 2016 While it'd be nice to blow through it on sex, drugs and rock n' roll, however, I'd end up buying numerous small apartments somewhere, like Bournemouth, and rent to pay off the remaining small mortgages on them. Make others make money for you, unscrupulous landlords, that'd be me, and that'd be my pension. I wouldn't go public, but I'd phone my sister to tell her I'd won, and then tell her to get her money grabbing hands the fuck off, ahhh, what goes around comes around. Family huh! And, I could never give up work, I'd go crazy. But, I'd certainly work less.
Nolan Posted August 28, 2016 Posted August 28, 2016 While it'd be nice to blow through it on sex, drugs and rock n' roll, *smacks head* Stupid sober Nolan! Hookers and Blow and Ice Cream!! I challenge anyone on this website to have a actual better use of money than hookers and blow and ice cream. Seriously though. I could go for some ice cream.
Ashley Posted August 28, 2016 Posted August 28, 2016 ......go on...? I'm guessing unorthodox cloning experiments and genetic manipulation. Attempting to create a more perfect Forum Admin. Sorta like Dragonball Z and Cell being the perfect fighter. Several family members are convicted criminals and I'm good thanks. I disowned them some time ago but they still crop up.
Rummy Posted August 28, 2016 Posted August 28, 2016 I've thought about this before, and had the conversation with a fair few people(me and a lady at work sometimes talk about what we'd do with our big lottery wins...despite the fact neither of us actually play it :p) and I'm not going to lie - I imagine I'd be quite boring about it. Try and put that million into some sort of safe investment with a semi-decent return(a plan I made when interest was more around the 3%+ mark) and continue working and then just live off the combined earnings. At 4% it's already a 40 grand a year income, supplement it with a job and I'd be happy knowing I'm essentially going to have that forever - ofc, again, rates withstanding. Over time you'd still be able to save and end up with even more on the end of it! Maybe use some of the extra to speculate on a few things, see if there are greater returns etc. but just always keep that base million there to build off of. I'd probably like to think I'd spend the first few months being a little mental with it, then calm down for a few years and start giving some of the extra I can afford back to people in my life etc. Silly to think though - how easy it can be to make money simply by having it.
nightwolf Posted August 29, 2016 Posted August 29, 2016 I wouldn't tell anyone, if you knew my family, you'd know why. There are only three people I would tell/share. Here's a decent list hopefully: 1. Money to my sister 2. Money to my folks This is the most obvious, they'd likely be the only people to know if I could help it. Otherwise a good portion would go into the best savings/interest account I could attain and I'd leave it there. With the exception of: 1. House purchase. Likely somewhere cheaper than Cambridge, if I was feeling really brave I'd buy a couple of houses/do them up/sell on. (a good portion of my family work in construction/house building/plumbers/electricians) 2. A new car. I do love my brum but why keep it when I could buy something cooler (aka the 20grand white seat I've had my eye on...) Everything else would be just the norm, likely I'd still continue to work, but would find it easier to deal with finding something that makes me less stressed. I'd go on a few more holidays, but nothing too excessive. This seems to be the downfall of those who win big, they spend it on massive amounts of things and stop working. A million simply wouldn't last me enough as I'm only 26, but it'd provide a decent step up from my life as it is. So I'd be happy with that. I'd also at this point I'm not sure whether I'd tell my partner, I'd like to think that I would and he'd be able to continue treating me as he does now, but its hard to tell.
Happenstance Posted August 29, 2016 Author Posted August 29, 2016 I always work out in my head how much I would give to certain members of my family but I've still never really figured out what I would do for my sister. I would want to give her money but to be perfectly honest, her boyfriend is a piece of crap so I wouldnt want him getting his hands on it as well. As for my niece and nephew I would put money away for them both until they hit 18.
Goafer Posted August 29, 2016 Posted August 29, 2016 OOH OOH, I just thought of another thing I'd do with 1 million.
EEVILMURRAY Posted August 29, 2016 Posted August 29, 2016 Yeah thats kind of the point of this question. £1 million sounds like a lot but it would completely depend on what you did with it. I think you could give up on work with it but I think you would end up having a slightly below average yearly salary if you were trying to spread it out evenly. Using the skillz of a calculator. If I spread a cool one mil over 60 years that would give me just over £16,500 a year. Which is double what I make now. I could live comfortably off that. However I doubt I would do that. I'd probably make a few investments. Jump back into university or some other educational endeavour which I wouldn't have been able to do as I would've been busy working. Pay off the mortgage/get a new house/extension and then maybe buy another house and rent it out. Living off dem rentages. And naturally pimp out all my shit. Super King Size Bed. I'll go from a 47" telly to a... 48". I know.
Blade Posted August 30, 2016 Posted August 30, 2016 Pay off the entirety of my post grad student debt. Damn not being able to take a loan from the student loan company but having to take out a massive commercial one instead! I'd then buy a house. I'd get me some decent work clobber and get myself looking like i'm in Suits. Breitling watch. A few holidays.
bob Posted August 30, 2016 Posted August 30, 2016 Using the skillz of a calculator. If I spread a cool one mil over 60 years that would give me just over £16,500 a year. Which is double what I make now. I could live comfortably off that. However I doubt I would do that. I'd probably make a few investments. Jump back into university or some other educational endeavour which I wouldn't have been able to do as I would've been busy working. Pay off the mortgage/get a new house/extension and then maybe buy another house and rent it out. Living off dem rentages. And naturally pimp out all my shit. Super King Size Bed. I'll go from a 47" telly to a... 48". I know. How on earth do you have a mortgage when on £8,250 a year? Isn't that less than minimum wage?
Jimbob Posted August 30, 2016 Posted August 30, 2016 Well, i wouldn't go public about it. I'd have a few so called "friends" come out of hiding asking for money. I'd probably buy 2 or 3 houses, 1 for living in and the other 1 or 2 for renting out. Make a small amount of money each month from that. I wouldn't give up work for £1 million, but i'd certainly have enough in the pot to live well. I'd also up a few things, probably do each house out nice. I'd also get myself a nice car with any change left over.
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