One Million Pounds

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?

a small volcano in the pacific somewhere

oh a million you say ..... well i guess just pay off my credit card bill !

oh and in case you actually did win a million at the church tombola can i be your friend please

i'll pm you my bank details

Sure. Actually, I could do with some help. Turns out that the church needs me to pay a£1,000 transfer fee but I don't have enough cash. I'll give you £5k back if you lend me £1k for a week...

I would set up a tombola business, sounds fucking lucrative.

My serious answer is quite simple. Buy as many one bed flats as I can afford and gradually expand my property portfolio with rental and day job income.

Or I'd just create the Stonehedge Foundation Beer Fund and keep compass drinks in beers for a couple of months.

^ I take back most of what I said about you then.

pay off mortgage then invest in BTL. give up job to manage the properties full time and live off rental income until it gets dull.

In the typo filled newspaper I read this would make me the devil.

If I won a million I'd also start to read The Telegraph...

I'd buy a Ferrari because I'd probably not get another opportunity to otherwise.

Lolo, Michele or Enzo?

Realistically ?

Hookers and Blow.

hooker who blow surely

dump girlfriend, quit job, spend 6 months losing my dignity and ten years begging to have it back.

Where do I buy a ticket?

hooker who blow surely

For £1mil? better be good.

hooker who blow surely

Now that you mention it

I'd buy a Ferrari because I'd probably not get another opportunity to otherwise.

Would rather splurge my money on hookers and blow than piss away money on a new car. Second hand ftw.

Buy lots of flats in London and a few abroad, probably in mexico. Live in both countries 50/50 and just enjoy that.

You'd be lucky to get 3 flats in London with £1m

Buy lots of flats a flat in London and a few abroad, probably in mexico. Live in both countries 50/50 and just enjoy that.

ftfy

Buy lots of flats in London and a few abroad, probably in mexico. Live in both countries 50/50 and just enjoy that.

Maybe thats the key...look to other cities in the UK to invest.

You could buy Liverpool.

I'd rather not.

Seriously though, you can get a three bed detached house in areas of Birkenhead for 30k.

http://www.placenorthwest.co.uk/assets/_files/cached/img/402x268.916015625/nov_12/pnw__1354270012_Liverpool_houses_boarded_up.jpg