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By *sianManc OP Man
over a year ago
Manchester |
Imagine winning the lottery and now having 100 million pounds in the bank.
Now you may think I'm about to ask how would you spend it but no that's the simple question we all ask.
Instead what are the first 5 ways you will spend or deal with the money?
Got you thinking |
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By *eliWoman
over a year ago
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Pay off the mortgage (it keeps looking at me whenever I open my banking app)
Sort out money between family, friends, shares and savings.
Go to Fazenda or Hawksmoor and eat and drink myself silly with loved ones.
Book a flight to Barbados. |
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1 Nice house myself.
2 Look after Family and friends clear mortgages/buy houses.
3 I'd like to put the money to good use in my area supporting local charities.
4 I'd also donate money to local amateur and junior sports, football and rugby clubs allowing them the finance to improve their facilities, so floodlights on all pitches and 3/4g surfaces. This could also be done by setting up a trust that would allow the clubs a fund to apply to.
5 I'd also make sure that some money went to Cancer research. |
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By (user no longer on site)
over a year ago
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Buy a nice new car take the ferry to calais and turn left...when get back to calais turn right... stop when we want to drive when we dont want to stop... |
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By (user no longer on site)
over a year ago
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Reduce debts
Finish building my house
Buy a new car
Build a naturist spa/pool club in the south of England in umpteen acres of secluded countryside with self catering chalets
Give my son a million to set him up in a nice house somewhere
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Build an Ironman style house.
Travel the world for a couple of years while my pad is being built.
Set my closet friends and family for life.
Buy Turtle Island on the Barrier reef and build a new house on it.
Invest in shares and some classic cars.
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By (user no longer on site)
over a year ago
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"Reduce debts
Finish building my house
Buy a new car
Build a naturist spa/pool club in the south of England in umpteen acres of secluded countryside with self catering chalets
Give my son a million to set him up in a nice house somewhere
"
REDUCE debts? Youve got 100 million quid!
How much debt have you got?? |
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By (user no longer on site)
over a year ago
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"Reduce debts
Finish building my house
Buy a new car
Build a naturist spa/pool club in the south of England in umpteen acres of secluded countryside with self catering chalets
Give my son a million to set him up in a nice house somewhere
REDUCE debts? Youve got 100 million quid!
How much debt have you got??"
You need debt to maintain a credit rating. Regardless of your wealth you need credit facilities for business loans etc. You need to take out loans, maintain your capital and use the interest to pay the loans off hence not reducing your capital. That way you keep as much of your £100M intact. |
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By *sianManc OP Man
over a year ago
Manchester |
1) Firstly I would pay off all debt that I and my immediate family owe. (As a member above has said, we need debt (good debt) to maintain a positive credit rating thus I would obviously create an intentional debt for this reason after having spoken to a financial advisor which should be done first and isnt part of my 5 part plan as per this post lol
2) I would then divide the total remaining amount amonst myself and my immediate family to understand what each has but then to put it all into 1 account. The account will generate interest on the combined amount that then can be divided amongst all immediate members and thus benefit us all going forward but should anyone want to dip into their own individual values they can.
3) Now I will depending on the amount I have left take a small percentage and give to charities that I deem fit. A percentage can be from 1.5% to 5%.
4) What I have left I will then try to invest around 0.25-0.5 (25-50%) so that I can generate it back whilst spending it.
5) Finally I will splurge on the following items:
a) Build my own house - the house of my dreams that I can afford.
b) Buy some expensive cars and bikes to fill the garage of said house but also some medium range vehicles to use as my run-around during the week.
c) I will also buy/invest homes in some holiday destinations so that I have a home from home to stay in whenever I want to fly abroad.
Places: London, Dubai and possibly Spain to begin with.
D) I will next splurge on some top of the range gizmos and gadgets such as a state of the art desktop, laptop, tablet, home cinema etc
E) Whatever is left I will then use to buy clothes probably.
F) Finally and its apt that finally is under F lol I will probably go for an expensive week in london, watch shows, eat lavishly and visit tourist destinations as well as shop in Fortnum & Mason. I will then spend a week in Scotland, ireland, wales and have a bucket list where the goal is to try and stay in as many capital cities of the world as I can and want to.
The rest will be used for day to day living and may not affect my normal lifestyle except to improve my choices and quality of living. |
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By (user no longer on site)
over a year ago
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Pay off mortgage and families too.
Spend 6 months in a retreat, get fit and healthy.
Give half to charities.
Make sure myself and loved ones are financially sound for the rest of our lives.
Travel the world |
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