So somebody is 38mill richer

Permabear

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_Roz_

Permabear wrote: »

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Genuinely don't even know how that's possible, I do not envy you. At 30 I've only just managed to get myself financially stable enough to pay for a 5000 euro masters for myself. That's the end of it then at least - partner didn't go to college and as I said, no kids planned. Whatever about the lottery, there's no way we'd survive in America, specially with kids!

Permabear

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valoren

Hector Savage wrote: »

This might be hard to believe for some, but I knew an accountant (actually he lives in Malahide) and he dealt with a lot of people who won the lottery or came in to large inheritances - he told me in ALL cases - it was the kiss of death.

One case a woman won the Irish lottery (~1M) and was terrified it would destroy the family so told no one.
Meanwhile the husband still breaking his back working, and this was 10 years later - and now she was doubly terrified to tell them as she had allready kept it hidden.


I like to think I would have the maturity and cop on to be wise if I came into that kind of money suddenly, but it does make you think.

Wouldn't it make you wonder why such people do the lotto at all? To be worried that much, and to be stressed about it.

If I won a plain old million I'd be looking at replacing current income in so far as possible with a diversified mix (up to 30) of classic blue chip stocks that pay annually rising dividends. I wouldn't care less about what the underlying stock price does so long as the dividend keeps getting paid, any murmurings of a future cut and the underlying stock get's sold (hellllllooooo General Electric!). With a million, you'd be looking at taking in 30k gross on a million.

Tax on that and we'd be looking at a guesstimate of circa €1,750 per month. There would be a million invested and working to generate a second income so to speak. I'd still work but would have some financial security. I'd be keeping the mortgage and pay it as normal. The dividend income would be increasing annually (an average 10% conservative increase wouldn't be unexpected) so personally I'd be looking at retiring in 15 years. I wouldn't tell anyone beyond my wife of such a win. The key thing though would be that the dividends would be reinvested for more shares to accelerate the income. To perhaps save some tax I'd be looking to speak with a tax advisor to see how more efficient such a plan could be with tax free pension accounts if possible.

With a win of 5 million and over then that's a different ball game. Repeat the above for security but there would be the option to retire immediately as current income could easily be replaced. It would be days of sun, sea and sand.

Deise Vu

valoren wrote: »

Wouldn't it make you wonder why such people do the lotto at all? To be worried that much, and to be stressed about it.

If I won a plain old million I'd be looking at replacing current income in so far as possible with a diversified mix (up to 30) of classic blue chip stocks that pay annually rising dividends. I wouldn't care less about what the underlying stock price does so long as the dividend keeps getting paid (hellllllooooo General Electric!), any murmurings of a future cut and the underlying stock get's sold. With a million, you'd be looking at taking in 30k gross on a million.

No such thing as a sure thing.

https://www.thetimes.co.uk/article/dividend-cut-reveals-depression-in-fortunes-at-general-electric-lf65m9cz9

I think the stress would be caused by people who generally haven't had to make big decisions in their lives and are suddenly getting pulled in every direction by family and 'financial advisors'. The best advice the Lotto give is 'do nothing for a long time'.

Permabear

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Kopparberg Strawberry and Lime

If I won anything from 1 million to 50million

Shove your financial advisor up your hole

1 million )

I'm going out , buying a house in full ! No loan of any description or the likes so that it is owned by me and all its contents etc with all taxes and fees paid.

New car fully paid

Continue working away only having to worry about the odd bills and live comfortably.

50 million)

Very same as above except I'll have plenty of change so the difference

Slightly bigger more expensive house in a nicer area.

The odd holiday more

But also look after the brothers / sisters mortgages and an odd cars for them as gifts.


I wouldn't go investing this and that on the off chance it all goes tits up.

Essentially I'd be living normally enough working and paying for things with plenty of change for the odd thing but would keep it all under control as not to get into difficulty.

Of course stay unknown to the public too


I do agree with others , 1 million is nothing in todays world, it's not a free for life card and nothing to go shouting about.

Stonedpilot

Id love to burn like a million quid if I had that much. Seriously. Like the band the K Foundation did. Funniest late late interview ever the band members trying to explain why they did it to a brainless Gaybo.
I thought their reasoning was sound.


Burning it would give me more satisfaction than buying crap with it.

Dont gimme that crap oh you could house the homeless or feed them. The houses and food already exist!.

As joker said in Batman. "its about sending a message! ".

Permabear

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Chrongen

Richard Hillman wrote: »

If you want your country estate just outside Monaco, you then realised that you have to maintain the estate. You have the cleaner, the gardener, the caretaker etc. All costing roughly 25k each. Then you have the added costs of employment, social insurance, pensions etc. But before all that, you realize that because you live in the countryside, people cannot commute to the job. So they either have to live in or you have to arrange transport for them. Suddenly you need a driver and huge insurance for that driver. And if you decide for the live in option, you're gonna need some more insurance for that.


That's all before we talk about an accountant, lawyer, financial advisor, HR advisor. Being rich is expensive.

I suppose I could set all that up for you. All I'd ask is 3 beers apiece for each of my coworkers. I think a man feels more like a man if he can have a bottle of suds. That's just my opinion.

eviltimeban

Kopparberg Strawberry and Lime wrote: »

If I won anything from 1 million to 50million

Shove your financial advisor up your hole

1 million )

I'm going out , buying a house in full ! No loan of any description or the likes so that it is owned by me and all its contents etc with all taxes and fees paid.

New car fully paid

Continue working away only having to worry about the odd bills and live comfortably.

50 million)

Very same as above except I'll have plenty of change so the difference

Slightly bigger more expensive house in a nicer area.

The odd holiday more

But also look after the brothers / sisters mortgages and an odd cars for them as gifts.


I wouldn't go investing this and that on the off chance it all goes tits up.

Essentially I'd be living normally enough working and paying for things with plenty of change for the odd thing but would keep it all under control as not to get into difficulty.

Of course stay unknown to the public too


I do agree with others , 1 million is nothing in todays world, it's not a free for life card and nothing to go shouting about.

I doubt if you were 50 million richer that you would be "living normally enough". At some point you would need some financial advice, and letting your money gather dust in a bank isn't really a good plan. Or are you gonna keep the cash in a suitcase under your bed?

cantdecide

If it was anyone here that won it, allow me to address you directly; please note that I put out on the first date...

Delighted for the winner!!

backspin.

I wonder if the winners are reading this could they be so kind as to buy me a new set of golf clubs. PM me for my address. Thanks winners.

job seeker

I don't think I won. I never buy a lotto ticket..

_Roz_

If I could just have 265k from the winner to buy this really nice house up the road from me, I would be DELIGHTED. Cheers. Pm for details.

eviltimeban

There's an idea for a Boards AMA - "now you're talking to a lotto winner"!

backspin.

Stonedpilot wrote: »

Id love to burn like a million quid if I had that much. Seriously. Like the band the K Foundation did. Funniest late late interview ever the band members trying to explain why they did it to a brainless Gaybo.
I thought their reasoning was sound.
.

What the hell was their reason?

eviltimeban

backspin. wrote: »

What the hell was their reason?

Art.

Stonedpilot

backspin. wrote: »

What the hell was their reason?

That the artisitc merit of burning the money was worth far more than the million quid.

Would have to agree.

All the multi million dollar
hollywood movies in the World arent going to provoke debate like their simple video.

backspin.

Stonedpilot wrote: »

That the artisitc merit of burning the money was worth far more than the million quid.

Would have to agree.

All the multi million dollar
hollywood movies in the World arent going to provoke debate like their simple video.

Only if it gave them enough fame/exposure to earn that money back and more. Otherwise it was foolish nonsense.

4068ac1elhodqr

ygolometsipe wrote: »

It's a real pity they don't have a lotto where the top prize is smaller but there's more off them.

I.e. the 38 mill could be 10 prizes of 3.8 mil each.

The 100 mill would give 3 mill to almost 30 people...

Agree these (and most lottos) use the 'close to impossible' top single jackpot prize as a big carrot, and most folks use 50x70 rose tinted binoculars to stare at it.

Much prefer using big data to make niche market selections

e.g. Pick x4 of the main em 5 balls receive and x33,001 initial stake.
e.g. Pick x3 of the main em 5 balls receive and x1,501 initial stake.

Stonedpilot

backspin. wrote: »

Only if it gave them enough fame/exposure to earn that money back and more. Otherwise it was foolish nonsense.

They wanted out of the music biz, didn't really want fame.

Only those who see money for the tool of control sham that it is can see the value of this stunt.
Sadly many see money as the be all and end all. This stunt showed well it's just well, money!.
The big boys who control the Las Vegas casino, sorry 'Economy' know it's all a swindle themselves.

ohnonotgmail

Stonedpilot wrote: »

They wanted out of the music biz, didn't really want fame.

Only those who see money for the tool of control sham that it is can see the value of this stunt.
Sadly many see money as the be all and end all. This stunt showed well it's just well, money!.
The big boys who control the Las Vegas casino, sorry 'Economy' know it's all a swindle themselves.

in fairness even the lads themselves regretted it later. they hadn't earned as much as they thought they did.

Stonedpilot

ohnonotgmail wrote: »

in fairness even the lads themselves regretted it later. they hadn't earned as much as they thought they did.

Don't know if they did, point is they did it.

Lotteries in reality are their to give hope to the masses, and collect lots of money in ticket sales.

job seeker

eviltimeban wrote: »

I doubt if you were 50 million richer that you would be "living normally enough". At some point you would need some financial advice, and letting your money gather dust in a bank isn't really a good plan. Or are you gonna keep the cash in a suitcase under your bed?

I'd definitely not work. What's the point in working if you've got 50 million..?

Even with 1 million in your bank account, you'd still be able to live off the interest.

Deise Vu

job seeker wrote: »

I'd definitely not work. What's the point in working if you've got 50 million..?

Even with 1 million in your bank account, you'd still be able to live off the interest.

If you shop around you might get €10 to €20 a week after DIRT on €1M. If you didn't shop around and just took what your local branch kindly offered, I have seen rates of minus 0.3%.