Go on. Admit it. You’ve dreamed at least once of what you’d do if you won the National Lottery.
I got thinking last night (again – Drew @ObjectiveWealth’s fault) of what I’d do, and thought for a change I’d write my musing down as I went.
I’ve won £10,498,320.29! Woo! Let’s see what I’d spend it on!
1. Pay Off Close Family Mortgages
My first selfless act. I know that nearly all of my family would benefit me if they won the lottery, so it is only fair and just that I do the same for them. I estimate that’d be the £498,320.29 taken out in doing this.
2. Pay Myself (nearly) First
£6 million would go into some sort of not-immediately-accessible savings account. I don’t really have a huge understanding of how much interest such large sums would pay. Assuming I could get 4% somewhere that wasn’t on an investing basis it’d still provide an interest income of circa. £250,000 per annum off which my family and I would actively live.
This £6m capital would not be touched, as it would allow us to do all the things we want to do in life by living off a safe passive income without having to ‘work’ ever again except for work I find fun and rewarding (I’m getting to that…).
3. Open a Charitable Trust
I’d like to open a charitable trust affiliated to this blog and funded with £2 million that looks to help people in dire financial straights through no or little fault of their own. The committee would convene once a month to examine requests for financial assistance and choose the most worthy submission, providing grants and loans where most needed.
It would also lobby the government for compulsory primary and secondary educational modules and qualifications in personal finance management and you can bet your last 5 pence, I’ll keep blogging because I love it.
4. Buy A Nice Family Home
I live in the South East of England, which sees some of the most expensive land and property prices anywhere in the country. I’d like to purchase a home that would be fitting for my family; that is secure; that has open space; and that is beautiful and accessible to local amenities. I estimate this can be had in the current climate for £1.5 million or so.
5. Buy My Dream Car(s)
These are all looking pretty standard, aren’t they. I’d like an Aston Martin for running around in, and a Rolls or a Bentley for longer journeys. I’m driving.
6. Go On Holiday
While it is true our £6m will be providing a healthy passive income, I want a dream holiday to celebrate immediately. That should take care of the last £100k.
Of course none of this is going to happen, because I don’t actually play the lottery. But a guy can dream, right? What would you do if you won the jackpot this week?
Tags: Lottery, National Lottery
Category Funny Money, Money Management
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