If you won the lottery.....

[Wigsie]

Could the earthquake in Haiti have prompted this thread by any chance?

Nope, just wondering!

 

[Crankarm]

Don't think that's the case for me to be honest. I realise only too well the opportunities money can bring.

And giving away money is not something i've ever felt would buy my salvation. It's far too late for that for god sake.

I would just give a larger amount to cancer research purely as it's the only thing that's affected any family member.

Fair enough G.

Of course you would have to defer to Mrs G's wishes if you know what's good for you as she would say you'd only squander it ........... on bikes .

 

[CharlesF]

Invest it all and the resulting income would let melive and give on a regular basis - to Help for Heroes, those young men are amazing:

http://www.helpforheroes.org.uk/

 

[Night Train]

I wouldn't give an amount to a charity but I would set up trust funds to provide some charities with a regular amount which, over time, should equate to more then a lump sum in terms of both quantity and usefulness.

I would do likewise for my 'nearest and dearest' after settling mortgages and such like.

However, £1.5M is nothing to get exited over. It would have to be well into the 8 figures before I would even give up my teaching.

 

[albal]

Surely you've 'given' to charity when you bought said lotto ticket.
I don't do it so i'll never have the option.

 

[BigonaBianchi]

eat rice all day, ride celeste, lark around, have fun, play guitar and never eat raw garlic again

 

[Kirstie]

I would definitely stop work, pay off everyone's mortgages in my family and make sure everyone in my family had some income from it. I would give to charity but in the form of an annuity rather than a one off. Then I'd choose (for once) what I did with my time.

 

[Fnaar]

Would walk out of work that very day and if necessary pay them to hire someone for my notice period! Liking the fund ideas for regular giving. Would sort out the family, and devote myself to a life of leisure and volunteering for stuff to do with cycling and wildlife.

 

[rich p]

Winning such a small amount would have no material effect on my way of life

 

[rich p]

I'm kidding BTW!

 

[Wigsie]

I'm kidding a dickhead BTW!

Fixed for you Rico!

Its quite interesting how many people honestly believe it is not that much money and therefore would not give anything. Realistically £1.5million is not country mansions and super car territory, but it is a purchase of a modest house and live happily from income kind of stuff. I like the idea of a trickle of funds to charities.... while the rest of my life is spent earning a pittance running a bike tours and fly fishing excursions in the highlands.

 

[Arch]

I'd probably enjoy being able to give some larger (for me, that's over £500 or so) donations straight away. I can't imagine 'needing' more than a million in order to live comfortably for the rest of my life, so the other half mill could probably go into a fund - not sure whether I'd prefer to then use it (and the income from it) to just give ad hoc donations, or whether to set up something like the Vicars Relief Fund, which can make relatively tiny grants that make a real difference to people in need (I only know about it through the annual R4 appeal).

 

[twentysix by twentyfive]

I'd probably enjoy being able to give some larger (for me, that's over £500 or so) donations straight away. I can't imagine 'needing' more than a million in order to live comfortably for the rest of my life, so the other half mill could probably go into a fund - not sure whether I'd prefer to then use it (and the income from it) to just give ad hoc donations, or whether to set up something like the Vicars Relief Fund, which can make relatively tiny grants that make a real difference to people in need (I only know about it through the annual R4 appeal).

Depends on inflation and interest rates and how long you live I'm afraid. You might find that 1 mill won't be worth that much in 30 years time. As for me I'm aged enough to feel that £100k will see me "out"

 

[Arch]

Depends on inflation and interest rates and how long you live I'm afraid. You might find that 1 mill won't be worth that much in 30 years time. As for me I'm aged enough to feel that £100k will see me "out"

In thirty years time, I'll be seventy and happy to have made it that far...

If I bought a house, I couldn't imagine needing to spend as much as a quarter mill to have somewhere nice, but that would still leave me three quarters. If I bought a house outright, then I have no rent/mortgage to pay, and reckon without that expense, £10,000 a year would do me fine. That's 75 years worth even if I put the cash under my bed and don't earn any interest....

Ok, so there'll be inflation, so the £10,000 wouldn't hold for ever, but if the money was bringing in income too, that would help with that. I don't want to live another 75 years anyway!

The beauty of being brought up frugally is, I can be pretty content on only a little...

 

[thelurker]

i've spent the last 20 years of my 40 year life doing 9-5 drudgery and paying mortgages. i'd immediately quit work, live off the interest, travel the world and see all my friends who love from LA to Auckland, play golf on the courses of the world, ride my bike in the sunshine of LA, the south coast of france, the south coast of south africa, perth and new zealand.

give to charity? fcuk that. spent enough of my life paying taxes. this money is mine.