a million isn't really that much. At the moment it would probably generate an investment income of about 25,000 per annum which after tax would be closer to 18,000.
Buy a house for each of my two sons.
Probably at the moment buy £500,000 worth of commodities such as gold silver or platinum.
Travel the world first class making my next million!
Keep very quiet about it and buy some apartments in Belgium where rental income from letting out flats is tax-free and can be paid directly to your Luxembourg bank a/c.
If I won a million quid?
Back when the UK Lottery first started, and someone won £9 million, I thought about how I might spend that amount.
I was content with my home, and, apart from arranging some 'security' to dissuade intruders, and engaging staff to maintain the grounds, I considered what vehicles I would like to own.
A vintage Le Mans Bentley, a current Bentley Continental, a Porsche 959 and a few lesser makes and models, together with a 'motor house' and a manager thereof.
I have no desires for a yacht, though a helicopter would be nice.
In the end, I had run out of realistic ideas at £2million.
No doubt today's prices would inflate that figure, but, with interest rates as they were, there was more than sufficient income from the residue to sustain the lifestyle that I aspired-to.
A million quid? I used to dream about those kind of riches.
Nowadays the couple of properties that I have in Perth, plus what else I have put me way over that figure - and I still think I'm hard up (well, not really, but you get the drift).
So I'd probably splash out and say, "Hang the expense. I will have a second coffee!"
Wonder what happened to that yob who won several millions some years ago?
He was heavily into drugs, wild parties, expensive cars and upsetting the neighbours of the fancy property he bought.
Probably on the dole/inside now.
Don't mean THIS (http://www.telegraph.co.uk/news/worldnews/asia/kyrgyzstan/7933013/Lee-Ryan-loses-last-of-lottery-winnings-in-Kyrgyz-revolution.html) guy do you?
I loved the case of the family that won £148 million recently (http://www.mirror.co.uk/news/uk-news/euromillions-daughter-of-jackpot-couple-adrian-1260435).
They celebrated with a trip to a pizza restaurant and turned-down the offer of a trip to some exotic location in favour of Scotland.
The guy determined to continue with his hobby (selling secondhand music from a small shop), but he's given up due to being pestered for handouts (http://www.telegraph.co.uk/news/newstopics/howaboutthat/9784698/Lottery-winner-shuts-down-music-shop-after-too-many-people-ask-for-handouts.html)!
I was going to say he's probably dead, but living in Krygyzstan might be worse than death.
A million, wouldn't really touch sides, would it?
Seriously, I've often thought about this when I watch 'Who Wants to be a Millionaire' and I sit in front of the TV and either get knocked out on the £50 question because it's about some knobhead footballer or a soap opera 'personality', or I make it to a million.
I win the Bonds nearly every month but of course it's never more than a £25 prize but I keep hoping for the biggy.
I honestly don't know what I'd do. The first thing would be to liquidate any debts (if I had any). Liquidating one or two people I can think of might be a worthwhile use! I might put it towards a house but the question is where. I can't see the point of a fast car as there are so few places you can use it and have fun without the dreaded flash.
I am sure that if the situation arose I'd find uses for it.
One of the Gettys came up with "after the first million everything is just duplication".
maybe a bit more than a million now, but still holds true.
You could buy an annuity which would allow you to live out your remaining years on ... a pension equal to the average UK wage.
Probably the fastest way to get rid of it would be to restore a steam locomotive.
I would start a small bussines, to keep me busy/entertained. Once the bussines was established, I would buy a Cessna 182RG and tour the world in small hops.
You could probably buy a wing tip or such on an F-35 and then waste the remaining £2.50.
Thanks for those links. I'd forgotten there were two of them.
Why is it scum so often win?
I hope those tax-resident expats who own UK Premium Bonds realise that winnings are NOT tax-free in most countries. So keeping schtum about winnings is a good idea if you live in Spain and so on.
Pay off the mortgage, extend the house, let the wife retire and buy a clutch of rental properties back home 9where they are much cheaper).
Oh, and cash in my Premium Bonds............the money will help me upgrade the Caterham.
Fill it with good books, good food, good wine and bad women.
Guess I'd just keep sending them out.
I'd be surprised if many people at all know the meaning of the word alomoney.
And people who say, "the money won't make any difference to us".
up close in person. Believe me - she could wake up the d!cks of the dead!
Not sure about alomoney, but isn't alimony the money a woman gets paid for making a mistake?
Once the bussines was established, I would buy a Cessna 182RG and tour the world in small hops.
Not tell a fecking soul !!
A few of us were pondering this in work last week. How much could you get away with 'hiding' from others (friends, relatives, begging letter authors etc) before anyone would notice? I reckoned on £1.5 million at the most.
How much could you get away with 'hiding' from others (friends, relatives, begging letter authors etc) before anyone would notice?
In some respects the more the easier.
If you moved well away from your original location (maybe overseas) you could establish a 'new life'.
Some rich and famous people manage - though you'd have to tone-down your appearance.
There was a cabinet minister, I can't remember who it was, in the UK not long ago who received a 'payment' of a million or so pounds from Silvio Berlusconi (I think) and 'forgot' to tell his wife and the tax authorities. Apparently he kept it hidden for quite while, but then cabinet ministers are well practised in devious and dishonest behaviour.
A million isn't much anymore,( says he who has nothing in his pocket or bank account at the moment :hmm:). But it's a start and if you can't turn it into two million or more. Then you need better advice.
First off, I'd keep it a secret from the person I work for now. He would only try and badger me into investing in his company. Buy an aeroplane? No thanks.
Certainly move to a bigger house, the wife would give up her current job although she fancies opening a tea shop of some sort with her sisters.
I think the main thing I would get from it would be more peace of mind. No more worries about money. Well not as many worries about money.
Having said there's a couple of things to do with it. Driving a racing car on the track is one. Flying in a fast jet of some sort and a warbird and I might, just might buy a Cub.
Now if I had ten million, well that's different.
What did Thomas write that needed to be censored?
GCPTN - we were talking more about staying as you were so to speak and hiding the fact that you had 'acquired' money rather than disappearing off somewhere else.
Capetonian - are you thinking of Tessa Jowell's hubby David Mills?
Thanks, Standard Noise, that's exactly right. He is a lawyer married to a politician, so no great surprise there.
A million pounds ? Please take note of the price of the new Lamborghini Veneno, currently on display at the Geneva Motor Show: two million six hundred thousand pounds.
A question I always raise at dinner parties: How much would it take to significantly alter your life style. IE: Walk away and start elsewhere?
A million is less than what my household cumulative income is in 6+ years. So it's not a lot. At least it's tax free, I suppose.
What an ex wifey gets when she rips half of your estate away from you.
Girlyfriend: "well, dear John, am sorry, but, well, its not going to work, y`see, I`ve met this guy and, well, I have to move on, we are fnished. . .sorry "
Girlyfriend: "well, aren`t you going to say anything . . ?"
Dear John: "Not much to say really, except, I just won 23million on the lottery. - Anyway, bye"