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NOT FOR THE FAINT HEARTED
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 Post subject: Too much to cope with?
PostPosted: Thu Oct 10, 2019 12:17 pm 
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Person of Interest

Joined: Mon Feb 06, 2017 1:32 pm
Posts: 4798
So whoever has won over £i20 million quid on the lottery has not come forward yet.
I can understand the delay. It is a lot of money and once you step up to claim your prize, the world comes to your door.
Life will never be the same. The press, the lottery all begging you to go public with the news of your good fortune so they can splurge you, and those close to you, all over the media.
I wonder just how well your plea for privacy is heard?
Relations and people you have never heard of will come begging and every refusal makes you feel bad.
Well. That may be the scenario for most people, but not me: Bring it on!!! [thewave.gif]


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 Post subject: Re: Too much to cope with?
PostPosted: Fri Oct 11, 2019 10:10 pm 
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Joined: Fri Jun 21, 2019 7:01 pm
Posts: 455
Money only gives you options and never makes you happy. It's far too much stress trying to hang on to it :crying:

But if I had the 120 million....... I'd break cosyboo out of jail and sell him as a sex slave in rest home :whee:

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 Post subject: Re: Too much to cope with?
PostPosted: Sat Oct 12, 2019 9:52 am 
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The Mackem
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Stress trying to hang onto £120 million?

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 Post subject: Re: Too much to cope with?
PostPosted: Sun Oct 13, 2019 4:10 am 
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Joined: Fri Jun 21, 2019 7:01 pm
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If you had 120 million: how would you hang on to it?

Let's say you brought this really nice place in Covent Garden for 20 million.

https://www.rightmove.co.uk/property-fo ... 10767.html

A 10% drop in the market would cost you 2 million :shock:

Pick the wrong shares and you could lose the lot :crying:

See BT share price for example :wall:

https://www.londonstockexchange.com/exc ... XSET1.html


Unless you really know how to handle the cash.........you're going to lose a lot of sleep :think:

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 Post subject: Re: Too much to cope with?
PostPosted: Sun Oct 13, 2019 10:02 am 
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The Mackem
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Say I have more sense than to live in Covent garden say I have 120 million and am not remotely interested in trying to grow my money say they give you advice on how to handle the money

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 Post subject: Re: Too much to cope with?
PostPosted: Sun Oct 13, 2019 12:52 pm 
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Joined: Fri Jun 21, 2019 7:01 pm
Posts: 455
Where to start with that :think:

Say you place the money in National savings income bonds.

Rates/Info
1.15% / 1.16% gross/AER, variable
Invest from £500 to £1 million
Access: No notice, no penalty
Rate: Variable
Tax: Taxable, paid gross

https://www.nsandi.com/income-bonds?source=list

The Consumer Prices Index including owner occupiers' housing costs (CPIH) 12-month inflation rate was 1.7% in August 2019, down from 2.0% in July 2019.

https://www.ons.gov.uk/economy/inflationandpriceindices?


This is a really bad investment and losing money right from the start. The loss is around 40k per year on million and over 10 years that million's value would be round 600k after adjusting for inflation.

Lets say you decide to just leave it in the bank. Again bank interest rates are so low, after 10 years that 120 million would be down to 80 million after adjusting for inflation.

And banks in the UK do fail and people are only covered for 80k. So just by leaving the money in Natwest or Barclays.... the whole lot could vanish overnight.

People who have followed sound advice lost millions too.

See:
https://www.thisismoney.co.uk/money/cel ... attle.html


There's no such thing as a "safe investment". All of the best business from the 1980's aren't around today. From water companies to British Gas.......they all fail to grown investments.

And to answer your question: you run more risk of leaving it in the bank and doing nothing, than shacking up with a 19 year old with double dd's and a gun fetish.

If there was such a thing as "sound financial" advice, those offering the advice would be millionaires instead of chasing 2% commissions from investing for others.

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 Post subject: Re: Too much to cope with?
PostPosted: Sun Oct 13, 2019 2:38 pm 
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The Mackem
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And say its down to 80 million Ive still got 80 million so I wont worry

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 Post subject: Re: Too much to cope with?
PostPosted: Sun Oct 13, 2019 2:58 pm 
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Joined: Fri Jun 21, 2019 7:01 pm
Posts: 455
Cos you'll be spending too. [9n5.gif]

The government will want there cut each year and the accountants will run up a bill of 100k on that amount sorting it out.

After 30 years you'll be skint.

And here is the killer people forget: family will step in the moment you get sick and take control. One or two of them may think of knocking you off too.

Even if you gave each family an equal share and kept 100k for yourself, one or two of them would still resent you for keeping it.

Local criminals would target you too.

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 Post subject: Re: Too much to cope with?
PostPosted: Sun Oct 13, 2019 4:31 pm 
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The Mackem
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After 30 yrs I'll be fcuking dead so no worry

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 Post subject: Re: Too much to cope with?
PostPosted: Sun Oct 13, 2019 6:51 pm 
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Odin
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Joined: Sat Jun 16, 2012 5:21 pm
Posts: 19450
Location: Valhöll
Pete wrote:
After 30 yrs I'll be fcuking dead so no worry

[giggle.gif]

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