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Thread: What would you do with a lottery jackpot win?

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    What would you do with a lottery jackpot win?

    In another thread, the huge cost of some hifi items (like £100k speakers) came up in passing, which made me wonder how much money I would need to have to even consider that, and I say that as someone with a lifelong live of hifi .... or rather, the quality of music a really, really good hifi can produce (which, BTW, doesn't have to mean stupidly expensive).

    It would need to be enough that £100k was "on a whim" kind of money, and there's a long list of whims I'd indulge before £100k on speakers. And only a very big lottery jackpot even might be enough for me to do that.

    So, if you won a truly big jackpot, what would you do with it.

    Personally, first, I'd move. And no, not a mansion, but something with a decent chunk of land to allow for a lot of growing of veg. And a part-time gardener's salary. And far enough away from neighbours to not annoy them with £100k speakers.

    Actually, no, that would be second. First would be a carefully structured investment portfolio large enough to be sure neither I nor my family are ever likely to want for money again. Second would be that house move.

    After that, it would take some thinking about, but on the list would be a fair bit of travel 'cos there's still places on my bucket list. And I'd do it in comfort.

    And after that, I'm really not sure. Oh and £100k speakers? A long, long way down a lengthy list.


    Finally, a few years ago, giving up work would feature quite highly. Now, I'm effectively retired anyway, so that isn't an issue.

    But I'm struggling to come up with things I really want. There's lots I could indulge in, but what really, really matters? Mostly, things that either don't cost any money, or certainly not vast sums of it.

    What would you do?
    A lesson learned from PeterB about dignity in adversity, so Peter, In Memorium, "Onwards and Upwards".

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    Hexus.Jet TeePee's Avatar
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    Re: What would you do with a lottery jackpot win?

    I'd spend half of it on wine and women and squander the rest.

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    Moosing about! CAT-THE-FIFTH's Avatar
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    Re: What would you do with a lottery jackpot win?

    I suppose the main advantage of winning large quantities of money for most people,is financial security,ie,paying off the mortgage,any loans,etc you might have. Then you can still have enough money to decide at your own pace what you want to do for the rest of your life.

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    Banhammer in peace PeterB kalniel's Avatar
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    Re: What would you do with a lottery jackpot win?

    Currently I buy things with pretty much a single metric: cost over time. With a lottery win that metric would probably change to: quality over time.

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    Re: What would you do with a lottery jackpot win?

    Define "truly big"...

    Enough to drop a few mil on a large period country house?
    Enough to have a 75' yacht custom built and keep it running?
    Enough to have a 75m yacht custom built and keep it running, while permanently moored at Capri?

    I tell you one thing... the Gaming wing of my house would be stunning!
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    Re: What would you do with a lottery jackpot win?

    Quote Originally Posted by kalniel View Post
    Currently I buy things with pretty much a single metric: cost over time. With a lottery win that metric would probably change to: quality over time.
    Interesting way to put it but, I agree. Within much more constrained limits, I adopted that stance some years ago. With quite a few things, I decided to either do it right, or if I couldn't afford to do that, don't do it at all. It came down, I guess, too "Buy cheap, buy often. Buy right, buy once". Which, over time, tends to mean it's often cheaper than buying cheap, which gets more expensive than buying quality.

    But that's where I hit a problem thinking about what I'd do with a seriously big lottery win. It would enable buying pretty much anything in top quality, and without either effort or sacrifice. A large part of the pleasure in .... retail therapy .... is finally scratching that long term itch, that you want a 'whatever'. But if you can just go buy anything on a whim, what would I really want? Ever planned at buying something, finally got it and after the initial effect wears off, wondered why you bothered?

    I guess the old adage about having to work for it to really appreciate it, are true after all.
    A lesson learned from PeterB about dignity in adversity, so Peter, In Memorium, "Onwards and Upwards".

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    Re: What would you do with a lottery jackpot win?

    Quote Originally Posted by Saracen999 View Post
    ..far enough away from neighbours..
    just this bit would do me, thanks.

    Preferably: 2 or 3 smaller properties, & enough to maintain/knock them about a bit as suits. No family to pass anything down to so no worries about providing for anyone.

    Good few chunks to charity. After that: books, probably.

    The rest you can keep
    Aliorum vitia turbaverunt me

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    Re: What would you do with a lottery jackpot win?

    I would buy a plane. A house with more parking so the wife and I could indulge in more cars would be nice, but I think that PPL is the real stupidly expensive luxury. Specially as the wife would want a licence as well

    Edit: Negative interest rates could make savings a liability, strange times for investing.

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    Re: What would you do with a lottery jackpot win?

    Quote Originally Posted by Ttaskmaster View Post
    Define "truly big"...

    Enough to drop a few mil on a large period country house?
    Enough to have a 75' yacht custom built and keep it running?
    Enough to have a 75m yacht custom built and keep it running, while permanently moored at Capri?

    I tell you one thing... the Gaming wing of my house would be stunning!
    I wondered who'd be first to ask that.

    I was right.

    I guess what I meant by "truly big" was big enough to do pretty much whatever you want, without worrying about it. So .... if you really, genuinely, want a 75ft custom yacht, then yeah, enough for that. If you want the big country house, then yeah, a few million for that. If you want both, then enough for both.

    If you want so much that even a record lottery win, isn't enough, then consider it a billionaire uncle you didn't know you had suddenly croaked and you copped the lot.

    How much it is isn't really the issue. What I was trying to get at was what people really want, not what they can think of to spend money on.

    For instance, houses. Do I really want a huge country house? Bearing in mind that such houses can and often do come in pretty poor condition, requiring both massive spending (which my win means I could afford) but also responsibility to fix 'em up, which is hassle I can do without.

    So, yes, I'd want a house big enough for a games room, which could double up as a music (listening, not playing) room, home theatre, library, etc. Probably a home gym in another room, and undoubtedly a pool. It would, in all likelihood, be a house in the millions, but only as small number of them. What's a lottery record win? £100m? £150m? Maybe indulging yourself needs £10m, or maybe £100m, or whatever.

    The size of the win is big enough for you to indulge in whatever you realistically are likely to want. If you really want to compete with Bill Gates et.el. in the super-yacht (220m, last time I looked) then yes, it's the billionaire uncle not a lottery, and yes, it's enough for a $200m yacht. If you're content with a piddly little 75m one, so be it.

    What I'm really asking, I suppose, is what you would really spend money on, if you could afford do it without worrying about it. I'd buy a very nice house (*) but not a huge mansion. I've seen $1m watches. I'd probably buy myself a couple of nice watches (for different occasions) but, even if money-no-object, I wouldn't spend $1m on one.


    (*) In fact, I probably wouldn't buy a house. I'd buy land, assuming I could find the right plot with the right permissions, and get one designed to my spec's, built on it. I'm not sure which country it would be in.
    A lesson learned from PeterB about dignity in adversity, so Peter, In Memorium, "Onwards and Upwards".

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    Re: What would you do with a lottery jackpot win?

    Buy a house with pool in Bodrum - Turkey and emmigrate there, would also open a business to help put into the economy.

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    Re: What would you do with a lottery jackpot win?

    Quote Originally Posted by DanceswithUnix View Post
    ....

    Edit: Negative interest rates could make savings a liability, strange times for investing.
    indeed. That was why I said
    carefully structured investment portfolio
    It'd need competent advice, but would probably include stocks, property, gold, and who knows what. Fine art, wine, classic cars (or maybe not, bearing in mind I.C.E versus electric), or whatever smart money is currently hedging its bets in.
    A lesson learned from PeterB about dignity in adversity, so Peter, In Memorium, "Onwards and Upwards".

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    Re: What would you do with a lottery jackpot win?

    Buy a house and retire in Cornwall with one of the rooms especially for PC's and music

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    Re: What would you do with a lottery jackpot win?

    I'd fix up the house and bring upto spec.

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    Re: What would you do with a lottery jackpot win?

    Obvious stuff - buy a nice house, take care of friends and family, and give most of it to fund charities and medical research.
    Before you judge a man, walk a mile in his shoes; after that, who cares?! He's a mile away and you've got his shoes!

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    Re: What would you do with a lottery jackpot win?

    I'd buy a huge huge huge garage with a 3 bedroom house attached and fill it with every car I've ever wanted then take them all around the world.

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    MCRN Tachi Ttaskmaster's Avatar
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    Re: What would you do with a lottery jackpot win?

    Quote Originally Posted by Saracen999 View Post
    I wondered who'd be first to ask that.
    Well, I've heard of lottery wins being 6 mil and others being 180mil.
    There's a BIG difference, even between those two relatively small values. I expect other wins have been even bigger, but those two stand out in my memory.


    It's also necessary to ask, in order to lend some context and limitations.

    For example:
    "I guess what I meant by "truly big" was big enough to do pretty much whatever you want, without worrying about it"

    I ultimately want a spaceship, custom built, so I can have my own business as an independent transport pilot running shuttle flights to Mars every morning.
    Yes, that is a genuine dream, have had it since I was a kid and saw things like Buck Rogers and Battlestar Galactica. If I could afford it, I would.

    Quote Originally Posted by Saracen999 View Post
    What I was trying to get at was what people really want, not what they can think of to spend money on.
    I'd argue that a great deal of what people 'really' want, in terms of both realistically achievable and truly dreaming, is in both cases severely limited by what they can afford. Remove the limitation of money and people often dream big. Give them that money and, because many live according to their means, what they can 'realistically want' now comes from a far larger catalogue.

    For example, I drive a car that would cost maybe £1,000 to acquire currently. Give me £50 and I'll fuel it for a month. Give me £500 and I'll fix all the little niggles on that car, like the rear washer jet and the broken boot lock. Give me £5,000,000 and I'm buying a pair of Aston Martins straight away!

    For another example, I have a PC cobbled from second-hand parts. Give me £500 I might buy a new graphics card. Give me £5000 and I might buy a whole brand new system. Give me £5,000,000 and you'll see Linus and JayzTwoCents and 8-Pack and all manner of people forming a team (based at HEXUS HQ, of course) to personally build me the most amazeballz machine ever seen on YouTube... and I'll monetise the build video so I can afford the electric to power it!!

    Context...

    I'm also aware of quite a few such winners, who've also won money that rivals my department's annual project budget and blown the lot, ending up living penniless on a council estate within a year.


    Quote Originally Posted by Saracen999 View Post
    For instance, houses. Do I really want a huge country house? Bearing in mind that such houses can and often do come in pretty poor condition, requiring both massive spending (which my win means I could afford) but also responsibility to fix 'em up, which is hassle I can do without.
    Why is it a hassle? You can afford to charge someone else with that duty, ie a refurbishment manager who likely has far greater expertise than you and is better equipped to bear that responsibility. Sit back and enjoy it once it's done.

    Quote Originally Posted by Saracen999 View Post
    If you really want to compete with Bill Gates et.el. in the super-yacht (220m, last time I looked) then yes, it's the billionaire uncle not a lottery, and yes, it's enough for a $200m yacht. If you're content with a piddly little 75m one, so be it.
    I'd be interested in the 75' one, perhaps.
    But if I'm going for the big guys, forget Gates. He's small fry. I want that Russian oligarch who lost the £500m yacht to his wife in the divorce and barely batted an eyelid over it. I want M/Y Azzam and M/Y Eclipse to be dwarfed (in size and cost). That will take upwards of £10 Billion, just to make happen and a lot more in order to keep it.

    World's biggest superyacht is only 181m, incidentally, owned by a Norwegian.
    While he's borrowed a few from friends now and then, I don't believe Bill actually owns a yacht himself, though.


    Now, I'm just a poor boy and nobody loves me, so if you were asking how much money I need to basically just be happy - The answer is not much... But the more I have, the more realistic those pipe dreams become. I'm about to spend over £200 on some custom electronics for the PC, purely because the pre-made RGB guff out there does not come in the form I most desire. A year ago, that was just a ridiculous pipe dream that only millionaires would seriously entertain, but a job opportunity came to me and I do now have the money, so the dream is becoming more realistic.

    This is why I need context, so I know just how far I can go.
    You have to define my reality before you can insist I be realistic!
    _______________________________________________________________________
    Quote Originally Posted by Mark Tyson
    like a chihuahua urinating on a towering inferno...

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