Whats my best chance of winning a million pounds?

puddy

I spend too much time fantasising about winning a million pounds.

I already have mapped out what I would do with it. Im not into cars, big holidays etc.

I would pay off the mortgage and the last few debts, thats 80k give or take. then put 20k into doing up the rest of the house the way we want it.

then give each of the kids 100k. That now leaves 600k.

Then put 100k into a pension, planning for the next 20 years.

Then put 500k into an income paying thing, which even on about 5% should give me about 25k gross, which means I would give up work. I could survive on that.
OH would obviously continue to work(!)

So,,, its is the lottery, premium bonds, or what??

BitterAndTwisted

Given the rotten odds you'd probably be better off planning a bank-heist or something, especially if you don't know any racehorse trainers personally

DVardysShadow

Your best chance? Spend about £10,000,000 on the lottery.

Apricot

if you find out please let me know! I fantasise about it all the time - it would be spent before it even hit my account!

Frith

I've never considered a million (I don't play the Lottery) but I do watch Deal or No Deal and calculate quickly what I could do with the money offered at each stage!

LJM

buy a lottery ticket or do the irish lottery odds are supposed to be better chance at winning on this lotto so i was told

Rikki

Marry a rich elderly millionaire.



or is that just me.............

Nixxx

Lol, welcome to my world!
This is my plan, put 30k into premium bonds, then play euromillions every friday cos one day it really could be me!

But i'm hoping for 10+ million!!!! lol

ThrowingStonesAtYou

You won't win a million pounds. The lottery is a tax on people who can't do maths. Premium bonds sometimes make sense in some circumstances I think for higher rate taxpayers.

Nixxx

ThrowingStonesAtYou wrote: »

You won't win a million pounds. The lottery is a tax on people who can't do maths. Premium bonds sometimes make sense in some circumstances I think for higher rate taxpayers.

Don't be a spoil sport! I can do maths and even tho my odds are 1 in 13,983,816 .... it could still be me :j

ps I don't understand how premium bonds make sense for higher rate tax payers ..please explain.

ThrowingStonesAtYou

Nixxx wrote: »

Don't be a spoil sport! I can do maths and even tho my odds are 1 in 13,983,816 .... it could still be me :j

ps I don't understand how premium bonds make sense for higher rate tax payers ..please explain.

lol, ok you're right it could be you, we'll leave it there.

Premium bonds payouts are tax free so the interest rate on premium bonds savings is sometimes better than having a savings account with 40% of your interest taken in tax, which is the case for high rate tax payers. Normal rate taxpayers lose 20% in tax on savings accounts.