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Lottery Winner - Hypothetical Question
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bfgun
Posts: 238 Forumite
If someone wins a huge amount of money on the lottery such as the £156 Million that is in the pot for the next draw.
Where would advisers recommend to put the winnings as it would surely be unwise to deposit it in one location?
How does someone safeguard that sort of money should a bank collapse?
Sadly I'm not in a position to have this worry
Where would advisers recommend to put the winnings as it would surely be unwise to deposit it in one location?
How does someone safeguard that sort of money should a bank collapse?
Sadly I'm not in a position to have this worry
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Comments
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Most of it wouldn't be held as cash, so you could spread exposure over many different tpyes of assets such as property, stocks and shares in international markets, gilts etc.
Personally I'd blow it all on a crappy lower league football club.
If there's anything left over to waste after the fast cars, strip clubs and alcohol get boring.0 -
personally..
i wouldnt know what to do with that amount of cash.. id pay off my debts buy a nice house nice car.. invest acouple of million and set up my family and close friends.. also some donations to Air ambulance etc...Sealed pot challenger # 10
1v100 £15/3000 -
Spread the money even over the accounts and one offshore account!!!!,
slap some in saving accounts (why would you..? hehe)
fill up the isa's,
Have some of it in cash in your lovely new mansion in a safe?
(winning that much is just crazy..)• HSBC (Main A/C)
• Halifax Back up A/C
• Lloyds (Spending) A/C
• RBS Back up A/C
• Barclays Old A/C
• Nationwide Old A/C0 -
If I win it I have a speech ready for all my friends. It's only two words
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Why would i need financial advice when i have that amount of cash in the bank?0
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If I win it I have a speech ready for all my friends. It's only two words
"Let's share"?!? I spent 25 years in the mobile industry, from 1994 to 2019. Worked for indies as well as the big networks, in their stores also in contact centres. I also hold a degree in telecoms engineering so I like to think I know what I’m talking about 😂0 -
personally..
i wouldnt know what to do with that amount of cash.. id pay off my debts buy a nice house nice car.. invest acouple of million and set up my family and close friends.. also some donations to Air ambulance etc...
That's just it. So many people would benefit.
I often listen to my local radio station which has a consumer show. Sometimes people ring up who have been turned over by cowboy builders, conmen etc. I'd love to just be able to ring up and sort the problems for them.
Same with family and friends, wouldn't it be great to take away any money worries they might have.0
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