Fluking the Big One

If we won 20 mil, I'd earmark up to 5 mil for house + furniture in Sydney and up to 2mil for house + furniture in Barcelona. But before we actually spent anything we'd take a few weeks off to a remote health retreat somewhere to think about things and discuss what to do :)
 
Interesting how most of us have hovered around the $20mil mark in our plans.

Wonder if it's because it was mentioned - or because it's more than enough, without being to much?

Or whether it's just because that's the $5 lottery jackpot atm and I've got tickets ... :D
 
$20mil

Invest in a tax effective way to preserve the capital and have it grow at least in line with inflation. Income should be around 5% and fully franked(30%)

- my new fulltime job would be to donate 3 - 4% of the yield ($600000 to $800000) to charities. This would leave a personal income of $200k - $400k.

leave everything else as is
 
Easy...

$20 mill...live off the interest on the interest from the ING account. No brains or work required.

Or, pay cash for about $100 IP's and live off the rent, and the interest on what's left put in the ING.

The PM and the accountant would be happy, I'd wager.
 
Found this worth reading

Unrelated
My Other half's aunty won a small fortune in Tattslotto and went and blew the lot at the pokies
 
lizzie said:
I only buy when there is a big one up for grabs ... and have the investing/spend plan already mapped out so no probs blowing it here :D

Just waiting for delivery day now (hehehe)
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Hmmmm...havent heard a peep from Lizzie for awhile.

There was a big one up for grabs just the other day, $70m went to a syndicate of female friends......hmmmmmmmm:D
 
The Fence said:
But, I also know a local near me who picked up about $1.5m in Lotto and still works on the Council as a general hand.
His attitude....If I stopped working now I'd be an alcoholic and lose the lot on the horses.
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These sorts of mind sets make no sense to me.

But it's typical of the type of folk who hope like hell to "win the big one" to change their life and get them out of their financial mire.

They are often like your Council friend who are not good with money, never have any, never had any, and therefore have to resort to hoping to get some through a windfall.

And when they do; their "hopeless with money" habits are still there, and they squander it.

Why can't that Council bloke say; "I'm gunna invest the dough in an ING account, live off the interest, work casually here and there for a bit of extra play money, spend more time on a solid and meaningful hobby/sport/interest, do some Community work, travel, still slowly destroy my liver with a beverage or two now and then, but not blow it all on mindless pursuits like nag betting".

Why should it be a given that - by his own words- if he has too much time on his hands he will become a total loser?

Now, I'm no rocket scientist, but to me that seems like a very, very easy plan to enjoy the money and not lose it.

Geezus H.

Makes you wonder about the intelligence of the human race sometimes.
 
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Uhmmm...you've got it totally wrong mate.

He's simply gone from unhappy to very happy and financially secure.

He and wife still work, they built a new house, bought one for the daughter, got a nice new car and I should imagine have some cash left over or invested somewhere.

An outcome that surprisingly looks to have work out very well.

Put into context, they only won $1.4m.
So now they own their own home a car & daughter home plus 1 IP.

Anyway, Lizzie....?
 
The Fence said:
Uhmmm...you've got it totally wrong mate.
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No I haven't.

I wasn't questioning his level of happiness now that he has won.

I know he's happy now he's got loads...if you weren't you'd be a bit odd, I'd say.

I was referring to his idea that to stop work would result in him ending up with none - despite having lots now.

Why does it have follow that to give up work is an automatic path to losing all your wealth as he predicts would happen?

The answer is...it doesn't.

I could retire tomorrow and be so busy it isn't funny, and not automatically resort to following the nags and drinking myself to death just because I have a load of spare time on my hands.

He's simply gone from unhappy to very happy and financially secure.
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Of course.

Given the winnings.. he could be the same whether he continued work or left work, but he thinks otherwise would be the eventuality.

That was my point.
 
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If I won say $30m, I would pay off my PPOR, buy a weekender acreage in the blue mountains. I would then pay off my friends and families mortgages or if they were renting, pay for a house for them of their choosing.

I would donate a bunch to charity including animal rescue organisations, and donate some to Sim to upgrade the somersoft servers and forums :D

I may also buy a project car to work on (1984 Alfa Romeo GTV6) and make reliable for some motorsport fun.

Apart from that, the rest would be invested and I would keep on working as I love what I do.
 
The Fence said:
Uhmmm...you've got it totally wrong mate.

He's simply gone from unhappy to very happy and financially secure.

He and wife still work, they built a new house, bought one for the daughter, got a nice new car and I should imagine have some cash left over or invested somewhere.

An outcome that surprisingly looks to have work out very well.

Put into context, they only won $1.4m.
So now they own their own home a car & daughter home plus 1 IP.

Anyway, Lizzie....?
Click to expand...
I'm with you on this one.

It sounds as if he liked his job, but had money worries. If that's the case, he's working at it just because he likes to.

I'm choosing to go back into a career which is unlikely, at my stage, to pay well. But I liked it, and I realised this when I was studying to get new skills in the field. I like the work and I always have.

The business didn't give a great income, but we made a profit when we sold and we had paid off a whole heap of debt. So we ended up doing ok. But I hates doing it. I'd much rather serve out my remaining years doing something I like to do despite not having a big pay packet. I could have had a much bigger pay packet managing fast food outlets or something else similar. But it was about job satisfaction.
 
My Dad won $700 on Keno this week. He's a drinker and has no money ever. He spent $450 of it on more paint and mouldings for my guesthouse to do a reno project down the hallway for my Xmas present and the rest on beer. I've never been prouder. A few years ago it would have all been beer.
 
A guy I know won 1.6 mil on lottery about 6 yrs ago. He was a bricklayer working 6 days a week. Now he is still a bricklayer working 6 days a week, he bought a small dingy to do some fishing gave 10k each to brothers and sisters(there were a few) but apart from that still has every cent he won.

Loved his job and has a work ethic to be proud of.


I remember may many years ago I went to a clairvoyant named Tom Wards. He used to write for magazines etc. He said among many things that I would come into 38k within a 3. He couldn't tell if it was 3 months or 3 years. Well sure enough after around 2 years I came into 38k!!!!!!!! Borrowed it from the bank for some land :p
 
geoffw said:
I'm with you on this one.

It sounds as if he liked his job, but had money worries. If that's the case, he's working at it just because he likes to.
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That would be the ultimate scenario for many.

Me; it'd be lots of time to do other things.

I would go back to playing golf on the PGA tour, and it wouldn't matter (it would for pride of performance) whether I won any money or not.
 
DaveM said:
If I won say $30m, I would pay off my PPOR, buy a weekender acreage in the blue mountains. I would then pay off my friends and families mortgages or if they were renting, pay for a house for them of their choosing.

I would donate a bunch to charity including animal rescue organisations, and donate some to Sim to upgrade the somersoft servers and forums :D

I may also buy a project car to work on (1984 Alfa Romeo GTV6) and make reliable for some motorsport fun.

Apart from that, the rest would be invested and I would keep on working as I love what I do.
Click to expand...

Fill 'er up mate. And check the petrol while you are at it.
 
The Fence said:
Hmmmm...havent heard a peep from Lizzie for awhile.

There was a big one up for grabs just the other day, $70m went to a syndicate of female friends......hmmmmmmmm:D
Click to expand...

Hahaha - not me - but I will be checking my lottery tickets today.

Been overseas for a few weeks and don't like to advertise before we go away
 
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