Lotto

Gavin Scott · Tue 07 Jul, 2009 12.52

Got the very pleasant news yesterday that an acquaintance of mine won the Lotto on Saturday. Shared the £6.8M jackpot with six others, netting himself around £900,000.

He's an older gentleman, and intends to furnish family and friends with gifts totalling £400,000 - leaving the rest for himself.

What would you do with that type of cash? I love the idea of buying a property outright, so I could travel and fool around and not have to worry about mortgage payments. That said, with the market as it is at the moment, I would be better off with a low interest rate mortgage, and drawing some form of income from the invested monies - but that's rather dry financial advisor talk.

Nice one to ponder though. He's a smashing fellow. Very pleased for him.

TG · Tue 07 Jul, 2009 13.33

A nice figure would be two million. Half a mil to my mum, half a mil to the bf's mum, the rest for a house and some fun for us!

Gavin Scott · Tue 07 Jul, 2009 13.49

TG wrote:A nice figure would be two million. Half a mil to my mum, half a mil to the bf's mum, the rest for a house and some fun for us!

Half a mil to the bf's mum? How long have you been dating?

TG · Tue 07 Jul, 2009 14.05

Six and a half years! The big day's next year

Gavin Scott · Tue 07 Jul, 2009 14.14

Oh well that doesn't sound quite so rash.

Nonetheless, I'd break it down into a yearly gift rather than a lump sum - but only because that's what Judge Judy would suggest.

Judy knows.

TG · Tue 07 Jul, 2009 14.21

God, I'd only spend it that way. Drop it on them straight away, out of my hands!

James H · Tue 07 Jul, 2009 15.54

I'd probably buy my own TV studio and then make my own news bulletins because I'm *that* important.

Er, no.

Whatever I got would go to putting on a fucking amazing production in a big theatre with a fab cast.

Col · Tue 07 Jul, 2009 19.44

If my win on the Lotto went into the millions, I would do do the following:

- Pay off my brother's mortgage and my sister's mortgage

- Set up trust funds for my nephew and nieces to allow them to attend university

- Pay off my student loan (only under £10k)

- Treat my parents to an all-expenses paid trip to Australia

- Provide the voluntary community media group I'm a member of with enough funding to set them up as a proper business - to get them a production base, to get them the required equipment and materials and to start up a payroll fund

- Donate £10,000 each to Mind, Aware and the Foyle Hospice

...and after that, keep whatever's left for myself.

Alexia · Tue 07 Jul, 2009 20.06

I would pay off all my family's debts, buy a box in the Millennium Stadium, and an Aston Martin DB9.

I would then learn to drive.

I would then set up a radio acadamy complete with actual living breathing radio station for kids 11-25 to learn proper broadcasting skills, appreciation of music and the history of radio. Then, when I'm 45, I'll retire to Cornwall.

timgraham · Wed 08 Jul, 2009 09.32

Gavin Scott wrote:Oh well that doesn't sound quite so rash.

Nonetheless, I'd break it down into a yearly gift rather than a lump sum - but only because that's what Judge Judy would suggest.

Judy knows.

You just need to look at her bibliography:
* Don't Pee on My Leg and Tell Me It's Raining
* Beauty Fades, Dumb is Forever
..and so it goes.

Gavin Scott · Wed 08 Jul, 2009 10.03

timgraham wrote:
Gavin Scott wrote:Oh well that doesn't sound quite so rash.

Nonetheless, I'd break it down into a yearly gift rather than a lump sum - but only because that's what Judge Judy would suggest.

Judy knows.
You just need to look at her bibliography:
* Don't Pee on My Leg and Tell Me It's Raining
* Beauty Fades, Dumb is Forever
..and so it goes.

I know them well - I've read them!