• Replies 97 replies
  • Subscribers 97 subscribers
  • Views 19206 views
  • Users 0 members are here
Options
Related
Hints and tips
  • To quote someone's message, first select/highlight the relevant text, and then use the Quote button that appears
  • To "mention" someone, type @ followed by the start of the forum name, and choose from the list; that person will get a notification of being mentioned

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

aidie

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.

  • in reply to Plastic

    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.     

  • in reply to Jenny Butterfly

    how about a holiday home somewhere ? 

    you would end up a multi-millionaire :)

  • in reply to Jenny Butterfly

    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"...

Reply
  • in reply to Jenny Butterfly

    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"...

Children
No Data