K2 GTi
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Registered: 21st Oct 04
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From the lottery talk in the office, we're discussing £1,000,000.
There's a few in the office that say it won't be life changing, but i'd spend £250k on a house, £100k on two cars, then i'd still have £650k to live off!
How can people say it won't be life changing?
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Hammer
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Registered: 11th Feb 04
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It would be life changing for all but the richest of people.
It isn't enough to stop worrying about future earnings though by a long shot. In fact the majority of people would have it blown fairly quickly.
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Cavey
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Registered: 11th Nov 02
Location: Derby
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£190k to pay off the house (or tbf, probably get the £400k house round the corner, car, get the missus driving, give sister and mum some of it, left with £700k (or £450k-ish depending on house) in savings/to live off for a while, probably try and start my own business with it so i'd be keeping myself busy
[Edited on 26-07-2013 by Cavey]
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James
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Registered: 1st Jun 02
Location: Surrey
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It would be life changing, it's not retirement money though IMO.
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Matt L
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Registered: 17th Apr 06
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life chaning in the sense it would give me the funds to do certain things like travel the world more but as Hammer said not enough for me to not worry about the future I certainly wouldnt quit work if Id only won a million (may look for other jobs but certainly couldnt retire).
Plus id share the winnings out with family anyway so cut it down drastically.
i plan to live for more than 65years so that way its less than 10k a year.
[Edited on 26-07-2013 by Matt L]
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tom130691
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Registered: 13th Sep 08
Location: Daventry
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house cars, but id still work and be even better off, then retire earlier
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JonnyJ
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Registered: 23rd Sep 05
Location: Scotchland
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How much money would that make you in interest if you binged it all in a pretty standard account? No idea what the current rates are, just wondered if you could take a "normal" wage out of it
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Cavey
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Registered: 11th Nov 02
Location: Derby
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2.5% or so interest? so £25k a year?
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JonnyJ
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Registered: 23rd Sep 05
Location: Scotchland
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Not bad. I could live off that and make a little bit on the side. Be almost impossible not to be tempted to blow some on cars/a house though 
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A1EX
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Registered: 29th Mar 00
Location: Turku, Finland
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I'd use it as a good stepping stone for property investment
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John
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Registered: 30th Jun 03
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Can't wait for all the I'd stay in my own house and buy an old escort so it would last forever posts.
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mwg
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Registered: 19th Feb 04
Location: South Lakes
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A woman that works in the local Asda just won a million. Not read the article yet but all she seems to want to do from the headline is go to America on holiday
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mwg
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Registered: 19th Feb 04
Location: South Lakes
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Personally I'd have a nice 300-400k house, a new car but nothing over 50k. Then maybe buy some cheaper houses/flats to do up and sell or rent
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Cavey
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Registered: 11th Nov 02
Location: Derby
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quote:
Originally posted by mwg
A woman that works in the local Asda just won a million. Not read the article yet but all she seems to want to do from the headline is go to America on holiday
Better than the post code lottery adverts where (admittedly it's only £35,000) some chav bint just shouts "Howard, we're going to Benidorm!" .... Living the dream right there
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Jamie Walby
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Registered: 15th Nov 04
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I think I'd stay in my own house and buy an old escort so it would last forever.
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AlexSXI
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Registered: 10th Jan 08
Location: Colchester, Essex
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Think it'd change my life, I'm only 23 but I'd like to think I could retire on it.
£400k on 4/5 decent 1/2 bed flats. Buy outright, rent over for £500-600ish each PCM= £2000 income a month.
£300k on a nice house to live in, with only bills & maintaining it to pay for.
£100k on a couple of decent cars, holidays, footie tickets etc.
£200k spare, building interest, maybe for property development.
£2k a month isn't a lot of income, but there'd only be house/car bills etc so it should be enough.
Even if worst case I couldn't retire, it'd get me out of this 45/50hr week career i'm in now and maybe down to 20hrs a week in a bookies or summat!
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Ryan
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Registered: 23rd Jun 08
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We have had the same conversation at work. Definitely not enough to retire on at a young age, although I wouldn't be continuing with my current career. Mine would go on:
House (250k)
Pay mums mortgage, give some to friends (100k)
Spend a year travelling with the Mrs (50k)
Train to be a commercial airline pilot (100k ish)
Probably wouldn't spunk loads on cars, unless it was going to be something that held it's value.
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Nismo
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Registered: 12th Sep 02
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Would change my life immensely, i currently work to live, i could work to enjoy life.
would buy a new house, pay off current house and buy flats to rent.
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chrisritch
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Registered: 2nd Sep 08
Location: Northants Drives: V40
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Still not enough to run an Evo tbh
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Hammer
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Registered: 11th Feb 04
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quote:
Originally posted by AlexSXI
Think it'd change my life, I'm only 23 but I'd like to think I could retire on it.
£400k on 4/5 decent 1/2 bed flats. Buy outright, rent over for £500-600ish each PCM= £2000 income a month.
£300k on a nice house to live in, with only bills & maintaining it to pay for.
£100k on a couple of decent cars, holidays, footie tickets etc.
£200k spare, building interest, maybe for property development.
£2k a month isn't a lot of income, but there'd only be house/car bills etc so it should be enough.
Even if worst case I couldn't retire, it'd get me out of this 45/50hr week career i'm in now and maybe down to 20hrs a week in a bookies or summat!
If only life were as simple as quit your job buy some houses and work part time in a bookies.
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AlexSXI
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Registered: 10th Jan 08
Location: Colchester, Essex
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quote:
Originally posted by Hammer
quote:
Originally posted by AlexSXI
Think it'd change my life, I'm only 23 but I'd like to think I could retire on it.
£400k on 4/5 decent 1/2 bed flats. Buy outright, rent over for £500-600ish each PCM= £2000 income a month.
£300k on a nice house to live in, with only bills & maintaining it to pay for.
£100k on a couple of decent cars, holidays, footie tickets etc.
£200k spare, building interest, maybe for property development.
£2k a month isn't a lot of income, but there'd only be house/car bills etc so it should be enough.
Even if worst case I couldn't retire, it'd get me out of this 45/50hr week career i'm in now and maybe down to 20hrs a week in a bookies or summat!
If only life were as simple as quit your job buy some houses and work part time in a bookies.
If only 
You can see I've dreamt it up hoping my numbers come up.
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GB123
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Registered: 21st Nov 11
Location: Kent
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Weirdos saying they would stay at their current job, surely you'd want to be your own boss at the very least?
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Whittie
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Registered: 11th Aug 06
Location: North Wales Drives: BMW, Corsa & Fiat
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You can be your own boss off your own back with a fiver in your back pocket.
With £1M - I'd buy a house for 300k.
I'd certainly buy a 997 GT3, and a Modest car.
Up to £400k.
I'd go travelling and see the world, on return i'd buy an 80k property, do it up, sell for profit and repeat untill i'm back up to the million and then buy to let various type of properties.
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Dom
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Registered: 13th Sep 03
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Certainly a million quid would sweeten your lifestyle by a fair old amount but i'm not convinced it's a life changing amount of money - you're certainly not going to retire on that nor would it keep you in a lavish lifestyle for very long.
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mwg
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Registered: 19th Feb 04
Location: South Lakes
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I don't have my own house at the moment so if I won enough money to buy a house that would be life changing for me. If you did have a house and used the money to pay off the mortgage that would surely be life changing too
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