What would you do if you won a million pounds/dollars ?

this discussion is the result of a conversion with KikiCat Slight smile

Basically if you won a million quid/ bucks

how would you spend the money on ?

or How would you use it ?

its just fun Slight smile but interesting to see would other people do the same as me ?

Parents
  • A million doesn't go far any more.      Most properties are in the £500k area which only leaves £500k left to live on - and with almost zero interest rates, that's £25k annually for only 20 years.

    A better bet might be buying a couple of flats to rent out for income and then live in a camper van and see the world.

  • Well, I could probably get something decent here in the North East for much less so I guess it depends quite heavily on location. 

    Here as well, I could get 3 - 4 small houses to rent out @around £80 - £100k each and bring in a decent stream of passive income, even after paying agents, maintenance and tax.  It might not sit well with my socialist principles, but since my back's against the wall in terms of planning for my family's future, needs must.     

  • how about a holiday home somewhere ? 

    you would end up a multi-millionaire :)

  • After paying your taxes on that £1M BUY a lot of shiny yellow metal coins. Hide them well, and ensure only the right people can find them after you kark it. Draw from your stash as required.. *Hint* if you buy certain UK and commonwealth issued Yellow shiny coins, even if they go up in value you pay no CGT. Saving in gold makes it less likely that you will fritter away your savings thoughtlessly too. (I can suffer from this problem...) It goes without saying that you cannot boast about this form of savings like you can about "money in the bank"...

  • There, for the grace of God, go I.

  • Oh, I do hope they'll be able to help.  In theory a beer tap style device sounds very useful but I expect that there can be complications from this kind of intervention.  Hopefully it'll just need tweaking to provide better drainage and relief.

    Best of luck for tomorrow!   

  • They fit a beer tap - like a Watneys Party Seven   Smiley    It gets punched into my side and connected to a measuring bag.

    I'm not totally sure what the problem is - the draining should have fixed it but I think I'll be on a drip tomorrow while they fit a feeding tube.

    I'm suffering from massive acid reflux which builds up until I'm sick - it's a real drag.

  • Oh, Plastic, I'm so sorry to hear this!  2 gallons is an awful lot!  I might have that sort of amount inside me too and one of my fantasies is of having a kind of rubber-tapping device fitted to keep draining my abdomen!   I seem to remember a documentary about a woman with cancer ("Living with Lesley"?) who stayed at home but had a little hand pump to drain the fluid herself.  

    Unable to eat or drink - are they planning on tube-feeding you?  I do hope they're able to help you, even if just a little, cos comfort and quality of life are so important too. 

    My very best wishes to you! 

  • Hiya Jenny

    50/50 is terrifying - literally being put to sleep.

    When you say about looking pregnant - I had over 2 gallons of fluid drained from my abdomen last week.   I gave birth to a 23lb puddle   Smiley

    I'm in a serious way right now - might not see the end of next week - lots of things are swinging into action - probably in hospital tomorrow as I'm unable to eat or drink..

  • thanks for the advice  its hard to know these days what to do ---- eg saving money is no longer good advice !

  • It depends...   it would need very high levels of trust and confidence for me to take that step.  It does, after all, give them a LOT of power, including the power to make you homeless or make foolish decisions which cannot be reversed.   I'd discuss it with a solicitor, paying considerable attention to a whole host of "What ifs".  Not all of these are likely or pleasant, but when it comes to legal matters I think it's better to dot the Is and cross the Ts. 

    e.g. What if one of them predeceases me?  What if one of them needs to claim benefits?  What if they disagree on a sale or rental?  Might one of them try to buy the other(s) out and what might be the consequences?  What if they fall into debt and the property needs to be sold to pay it?  Where might I live if the worst happens (bad financial decisions and the bailiffs are coming round)?  What if they marry/divorce/have kids themselves?  The list goes on (and apologies that it's a bit of a sad and sorry one).   

    My personal approach is to try and stay in the driving seat for as long as possible but also make reasonable plans and make these known.  Some of these might be clear cut, others not so much so.  And the time might also come for Power of Attorney.  One bit of advice to us from our late mother, "If I'm getting weaker and frailer, drain the accounts!"

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  • It depends...   it would need very high levels of trust and confidence for me to take that step.  It does, after all, give them a LOT of power, including the power to make you homeless or make foolish decisions which cannot be reversed.   I'd discuss it with a solicitor, paying considerable attention to a whole host of "What ifs".  Not all of these are likely or pleasant, but when it comes to legal matters I think it's better to dot the Is and cross the Ts. 

    e.g. What if one of them predeceases me?  What if one of them needs to claim benefits?  What if they disagree on a sale or rental?  Might one of them try to buy the other(s) out and what might be the consequences?  What if they fall into debt and the property needs to be sold to pay it?  Where might I live if the worst happens (bad financial decisions and the bailiffs are coming round)?  What if they marry/divorce/have kids themselves?  The list goes on (and apologies that it's a bit of a sad and sorry one).   

    My personal approach is to try and stay in the driving seat for as long as possible but also make reasonable plans and make these known.  Some of these might be clear cut, others not so much so.  And the time might also come for Power of Attorney.  One bit of advice to us from our late mother, "If I'm getting weaker and frailer, drain the accounts!"

Children