Great Little Article

Cotta

Morning All,

Here is a great little article about a man from Belfast who 18 years ago won 10.2 million on the lottery. Since then he has went on to perhaps triple his fortune and become a sustainable employer within the NI area setting up a whiskey business in Crumlin. The guy seems very level headed and I do not begrudge him his win in any way. I did find the journalist's description of the man in question quite patronising "dark eyes" with references to his weight etc, other than that it was a good read.

warmhands.coldheart

Not all lottery winners turn out his way...
Some could do without the money unfortunately as it makes their problems worse.. ie alcoholism, etc.....

Good read and well done this man all the same...

saverbuyer

Cotta wrote: »

Morning All,

Here is a great little article about a man from Belfast who 18 years ago won 10.2 million on the lottery. Since then he has went on to perhaps triple his fortune and become a sustainable employer within the NI area setting up a whiskey business in Crumlin. The guy seems very level headed and I do not begrudge him his win in any way. I did find the journalist's description of the man in question quite patronising "dark eyes" with references to his weight etc, other than that it was a good read.

Not sure if you've got this right to be honest.

The "whiskey buiness in Crumlin" is actually a yet to be built distillery in the Crumlin Road Jail A wing. It was announced over 2.5 years ago.

Fair play to him winning the lottery and not blowing the lot but buying 33 houses and "Directly and indirectly" (whatever that means) employing an estimated 70 people... well I don't know. Is he talking about tradesmen, his brothers and the bar staff at his pub?

It’s easier to turn a million into two, it’s harder to turn zero into a million.

Cotta

saverbuyer wrote: »

Not sure if you've got this right to be honest.

The "whiskey buiness in Crumlin" is actually a yet to be built distillery in the Crumlin Road Jail A wing. It was announced over 2.5 years ago.

Fair play to him winning the lottery and not blowing the lot but buying 33 houses and "Directly and indirectly" (whatever that means) employing an estimated 70 people... well I don't know. Is he talking about tradesmen, his brothers and the bar staff at his pub?

It’s easier to turn a million into two, it’s harder to turn zero into a million.

Is the distillery not up not up and going as of yet? He saud gus "whiskey" business was like winning the lottery for a second time due to the income it's generating.

saverbuyer

Cotta wrote: »

Is the distillery not up not up and going as of yet? He saud gus "whiskey" business was like winning the lottery for a second time due to the income it's generating.

No announcement on it opening yet. As far as I know.

saverbuyer

Worth pointing out that if you won the lotto (£10 million) in 1996 and stuck it in an 18 year fixed account (if available) you would have turned it into £50 million. Average rates were 9%.

Cotta

saverbuyer wrote: »

Worth pointing out that if you won the lotto (£10 million) in 1996 and stuck it in an 18 year fixed account (if available) you would have turned it into £50 million. Average rates were 9%.

I wonder why he mentions the income from the distillery being so good.

Are you allowed to put such large sums into an individual account and with everything that happened to the banks he may have lost it? Besides he needs to enjoy some of it otherwise what's the point of winning?

saverbuyer

Cotta wrote: »

I wonder why he mentions the income from the distillery being so good.

Are you allowed to put such large sums into an individual account and with everything that happened to the banks he may have lost it? Besides he needs to enjoy some of it otherwise what's the point of winning?

Honestly no idea.

He could have stuck £5 mill in a NS&I bond (only lose if Government defaults) and got £25 mill and "spunked" the rest. Thus “doubling” your money.

As I say, it's easier to make a million when you have a million and fair play to him for not spunking it all.

qwert_yuiop

saverbuyer wrote: »

Worth pointing out that if you won the lotto (£10 million) in 1996 and stuck it in an 18 year fixed account (if available) you would have turned it into £50 million. Average rates were 9%.

A much more plausible 3% or so would still have doubled it.

saverbuyer

qwert_yuiop wrote: »

A much more plausible 3% or so would still have doubled it.

Very true, just highlights how insanly low interest rates are.

Longterm average is around 5%.

guiriman

Cotta wrote: »

I wonder why he mentions the income from the distillery being so good.

" but will say that the lucrative whiskey venture ‘is like winning the lottery again’"

Maybe the opportunity or the business projections are lucrative, or maybe he's getting the same buzz from being involved as he did from winning the lottery.