say you win the £154 million euro lotto.......

ed123_2

....the day after recovering from the shock/hangover , it would dawn on you where do I put it ? Splitting it up into 1812 accounts (to cover the £85k compensation level) would appear onus (even if this number of accounts were available) I suppose you could use ns&i which is 100% guaranteed but they have limits of £2m re some accounts. I guess you would use a fairly sound bank such as HSBC .....ed

bodmil

Where you PUT it? Do you mean spend?!

masonic

You'd probably be better off not holding more than £85k in cash.

gadgetmind

I'd invest it and live off the £500kpa income. Or at least I would, but there is zero chance of me winning the lottery as I have NEVER bought a ticket and I NEVER will.

scheming_gypsy

gadgetmind wrote: »

I'd invest it and live off the £500kpa income.

and then you'll die and leave it to somebody else who'll spend it... so your idea doesn't make a lot of sense does it,.

Eco_Miser

OK, fantasy time:
I'd build around 1500 new houses. This would leave me with little cash (a million or so) and property worth rather more than £154million. It would also put at least £75million extra into the local economy (with the rest boosting the Exchequer). Then I'd rent the houses out cheap, at a rent calculated to cover all maintenance and administration, but just a low return on capital, with strict conditions in the tenancy agreements about anti-social behaviour, and keeping the properties in good repair.
The overall result should be a thriving and nice-to-live-in community, which would be to my direct benefit.

This can only be fantasy, as I don't pay voluntary taxes like the lottery.

TheMatrix_2

[QUOTE=ed123;44955548I_guess_you_would_use_a_fairly_sound_bank_such_as_HSBC_.....ed[/QUOTE]

Yes along with at least 10 other major banking organisations, just to mitigate some of that risk, but definatly NS & I

rumdiddlyum

i would give our house to a couple who are pregnant and in desperate need of a house also our little white corsa and then i would go ad but myseof some new clothes and bin everything else also buy new towels and bedding a just bin other so i dsont have to wash them also i am a big freecycler i would by new things and put them on foe people to collect and i would also buy a slush puppy machine dont need flavour just the crushed uo ice i could live on that:beer:

bluffer

buy a local football club and live off the other 153M

seriously, as much as i am fairly sensible now, i might just go off the rails with that amount. you need some serious anchors in your life to get that amount in one go and still stay sane/sober/not high

dzug1

If you've got that much you could start your own bank.........

gadgetmind

scheming_gypsy wrote: »

and then you'll die and leave it to somebody else who'll spend it... so your idea doesn't make a lot of sense does it,.

It makes sense to me as I like living sustainably and I like the idea of leaving money and assets to future generations.

Others prefer the "spend, spend, spend" approach, but each to their own.