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@Stonehedge
Ok, so you have won £1m in the church tombola. What would you do with it? How much would you splurge and how much would you invest? For the sake of argument, this is £1m tax free.
Conventional accounting advice for larger amounts suggests that you should pay off any debts and split your windfall into three. One pot would be used to generate regular cash flow, another for mid term but quickly accessible investment and the third for investment in bonds and gilts to mature for the future.
£1m is an interesting amount to theorize about. It is definitely a life changing sum but it is also not enough to buy a house in some parts of London let alone set you up for life.
What would you do?