Reply to: She didn't waste any time

[d000hg]

How is the money wasted if you use it to help your friends and family? It's wasted if all you do is sit on it, or spend all your time thinking about it. The only point of money is as a tool.

[MrMarkyMark]

FTFY

If you're the kind of person who wouldn't tell their own family, you're probably one of the ones who would find their lottery winnings won't get wasted, by a never ending line of, blood, related bludgers.

Essentially, that much money makes you so paranoid you end up frightened of everything with no friends and no normal life.

No chance of that with Gideon and Co at the helm, maybe they are intent on saving us, from ourselves

[DaveB]

There was a programme on Channel 4 (or one of theirs like E4 or something) about life as a billionaire, told from the point of view of the people who work for them - Personal Security advisors, therapists, financial managers etc. Essentially, that much money makes you so paranoid you end up frightened of everything with no friends and no normal life.

[d000hg]

It's up to the winners although you have to imagine the press will be looking hard for the winners of large jackpots.

If you're the kind of person who wouldn't tell their own family, you're probably one of the ones who would find their lottery winnings don't make them happy.

[NibblyPig]

Is it possible to remain anonymous or do you have to have your name all over the papers?

I'd personally tell nobody if I won all that cash, then tell my parents/friends I won a tiny amount if I want to give them any money so they think that there's no more coming.

[LondonManc]

Ah a candidate for capital gains.

I'd imagine it was to bring it in line with other forms of gambling like bookmakers and fruit machines.

[BlasterBates]

Taxed at purchase, correct.

Ah a candidate for capital gains.

[LondonManc]

I didn't realise they had stipulations on how one could take it - or that it was taxed actually. The UK lottery is non-taxable, is that right (or you pay tax on the ticket)?

Taxed at purchase, correct.

[d000hg]

I didn't realise they had stipulations on how one could take it - or that it was taxed actually. The UK lottery is non-taxable, is that right (or you pay tax on the ticket)?

[Unix]

$1.5 billion if taken over 30-odd years.

Probably $700 million if taken in a cash lump sum.

Take off 30% tax and you're down to $490 million.

So you're talking £340million - hardly worth winning, really.

Yeah if you spent 40 million on houses., cars etc and put 300 mill in a investment returning 5% per annum you would only get 15 million a year to live on, most contractors earn that in a hour!

[TheFaQQer]

I was thinking about the American one that's now touching £1bn - it's quite (actually very) hard to imagine suddenly coming into that kind of money. Everything you've learned about money is suddenly totally turned upside down.

$1.5 billion if taken over 30-odd years.

Probably $700 million if taken in a cash lump sum.

Take off 30% tax and you're down to $490 million.

So you're talking £340million - hardly worth winning, really.

[DimPrawn]

Except you won't get 1bn more like a third of that, still nice little nest egg.

Would put you well on the way to getting a foot on the London property market.

[Unix]

I was thinking about the American one that's now touching £1bn - it's quite (actually very) hard to imagine suddenly coming into that kind of money. Everything you've learned about money is suddenly totally turned upside down.

Except you won't get 1bn more like a third of that, still nice little nest egg.

[vetran]

I was thinking about the American one that's now touching £1bn - it's quite (actually very) hard to imagine suddenly coming into that kind of money. Everything you've learned about money is suddenly totally turned upside down.

not quite FLC can still buy Italian Pen(etration) friends with it.

[vetran]

FTFY

Miaow!