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On a scratch card! They've paid her £5,000 and the rest is coming this afternon - and she's still at work!
Wish she was my pal...!
Not a massive amount of Money these day's is it. I wouldn't reactive by leaving my job.
It'd pay the mortgage or trade up to a new yet sensible house, buy a couple of nice cars and decorate the place then the rest would be left for the kids/a rainy day.
I'd still need to work though.
Not a massive amount of Money these day's is it
Errr.... yes. It is. Congrats to them I'd be pissed already.
Depends on how you live, and what you want from life. I could "retire" from 9-5 work and do some freelance work and be in a much happier place for the rest of my life easily.
[i]Not a massive amount of Money these day's is it.[/i]
What!!!!
That's amazing, she must be so happy. bet that's the best monday she'll ever have 😀
Sadly, Nowadays, a Million does not give you a millionaires lifestyle for long...
Still, I wouldn't turn it down. If it came my way it'd mean still working, but I could pick and choose the contractual/agency jobs that I would enjoy, even though they'd be paying me less.
Not a massive amount of Money these day's is it.
Most people would take almost a life time to earn that, so yes it is.
I could "retire" from 9-5 work and do some freelance work and be in a much happier place for the rest of my life easily.
Definitely this.
Kryton57 - MemberNot a massive amount of Money these day's is it. I wouldn't reactive by leaving my job.
It'd pay the mortgage or trade up to a new yet sensible house, buy a couple of nice cars and decorate the place then the rest would be left for the kids/a rainy day.
It's still a sizeable chunk of cash!!
We could pay the mortgage off, get the remaining decorating work done, upgrade both our cars and still have around £800,000 left.
I'd definitely leave my job and spend some time working out what I'd really want to do, then re-train for that.
Not a massive amount of Money these day's is it.
20 years at 50k per year?
Yeah crap amount of money
From memory, studies on lottery winners suggest that £750k is the amount you need to win to actually make you happier. Any less than that is obviously nice but doesn't make enough difference to actually make you happier.
So sounds like your colleague has done well for herself 🙂
lucky lady.
sure its not going to buy you a "millionares" lifestyle for long but if your smart its a life changing amount.
live a modest lifestyle and I doubt you'd have to work much, if at all.
I think a mil would be enough to make me seriously re-evaluate my life. Could get a decent house and car(s), pay off present mortgage to keep as a renter and give probably £100k to each set of parents(plus £50k to sister in law).
Then figure out what to do with my time once I've finished my degree and no longer have to be a shift worker.
I think the question of how much it would change your life hinges on where you live. Up north, yeah, down south, not so much.
Bit of careful investment, pay off the mortgage and probably still be effectively better off than working despite 'earning' less. What's not to like?
Id be on the work phone to Stif with a hefty order, then buy my colleagues cakes, then leave never to return.
is she single? 😉
Sadly, Nowadays, a Million does not give you a millionaires lifestyle for long...
How many times have you won a million quid!??
Honestly the interweb really brings out the PO in people's faces sometimes.
20 years at 50k per year?
Yeah crap amount of money
No.
You need to factor in inflation and interest to make a real world estimate of the value unless you planned to go back to work in 20 years.
£1m could be lived on but not with a 'millionaire's' lifestyle unless you made some really good investment choices.
I'd still be very happy to win it though 🙂 I'd start a bike company knowing that essentially I just had to break even.
Who cares about leading a millionaires lifestyle, I love my boring life. A million would be more than enough, in fact enough to clear my mortgage would do!
With a million, at my current rate of spend I could work part time and build trails every afternoon 🙂
buy a decent house for 300k or less (think anywhere north of birmingham southerners) if your 700k earns 3% interest that's 21k p/a. Without a mortgage that would be enough for me to live in, cycling every single day and doing exactly whatever I please.
Doubles all round then. Wouldn't say no that. Ms Sparks does the scratch cards very occasionally. Despite my protestations that it is a waste of money she has made more than she has lost - just!
That's fantastic news for her.
Definitely leave my job, at 41, that would happily see me out, I don't want a millionaire lifestyle, bit more time during and a spot of fishing as well, lovely.
As Kryton says - these days it is not a massive amount of cash. Sure, there's a bunch of things that could be paid off now and you will be able to be pretty comfortable for a long time ahead with your current lifestyle. But the key thing that a lot of people don't seem to appreciate is that having £1m does not open a gateway to living life like a millionaire. There is a distinction between the two.
Sure, I would love to win that much money and it would make a material difference to my life. As others have said, it would allow more flexibility in choosing a job that may not necessarily pay so well but could give a lot more job and life satisfaction.
Sadly, Nowadays, a Million does not give you a millionaires lifestyle for long...
I'd agree with the original statement. You won't be hopping round the world on a private jet or supping champagne on your own island . With good investment you should be able to bring in 50-60k, and possibly a lot more, for doing nothing for the rest of your life, which would be very nice.How many times have you won a million quid!??
Honestly the interweb really brings out the PO in people's faces sometimes.
Well i would say that i wouldnt make any rash decisions till the cash was in the bank...but as soon as it was i would be on the first plane out of what ever shit hole i was in and id be back home with my family and looking for a subsistance job with no traveling to keep me sane 🙂
I'd start a bike company knowing that essentially I just had to break even.
I think you may need more than money to start a successful bike company. Like knowledge and experience for example 😉
£1m does not open a gateway to living life like a millionaire
I'm almost certain it would 😆
I'd agree with the original statement. You won't be hopping round the world on a private jet or supping champagne on your own island . With good investment you should be able to bring in 50-60k, and possibly a lot more, for doing nothing for the rest of your life, which would be very nice.
So what was originally meant was that a million won't let you lead a billionaire's lifestyle for long?
Do you need to live like a millionaire to enjoy having a million iin the bank........why does your spending have to change just cause you have cash
Like knowledge and experience for example
Nah... 🙂
Depends how old you are when you win it.
If it was me I'd be skipping off down the road never to work again.
Given we live on a good sized planet, if you buggered off to foreign climes with that sort of money, you'd be set up for life.
How many times have you won a million quid!??Honestly the interweb really brings out the PO in people's faces sometimes
Really? I assume you are including yourself in that statement then or perhaps care to elaborate on what you are trying to say. Nothing wrong with the statement you appear to be having a problem with
I'm almost certain it would
Me too. I think there are some messed up people on this thread lol
[i]I think you may need more than money to start a successful bike company.[/i]
If you want to make a small fortune running a bike company start with a large one 🙂
I tend to think a million would add 'nice things' to my life but wouldn't fundamentally affect my standard of living over the rest of my life time.
It would make me more confident about my old age, though, I think 'what happens when I get old and need care' is probably one that we're all going to face in the future and the answers are far from clear.
It wouldn't even buy you an average sized house in the nice London boroughs....
Not a massive amount of Money these day's is it. I wouldn't reactive by leaving my job.
You're joking right? I could retire on less than half of that. Yes it wouldn't give me a millionaire lifestyle but I wouldn't want it to. A million quid would pay off all debts, then with the rest invested you could have an income of 30-50k a year pretty easily.
Tax free too!!
Exactly.
If someone handed you a million and the best you could come up with would be re-decorate and buy a new car you'd have to be a bit 'special' IMO.
Access to that kind of money would have me set for life. Easily. Even in the UK.
It wouldn't even buy you an average sized house in the nice London boroughs..
It'd buy you a palace where i live and the ridings significantly better.
hmmm - choices....
Learn to weld/braze/ framebuild?
Brew beer?
Make cheese?
Get that dent I put in the van last night fixed?
Do you need to live like a millionaire to enjoy having a million iin the bank........why does your spending have to change just cause you have cash
I wonder how many lottery millionares are still millionares...
I could retire with £1M, the wife would have to keep working mind 😉
Pay off mortgage, no need for child care costs. Sensible investment should yeild more than my current take home. So more income and less outgoings. Might not be living the millionaire jet set lifestyle, but an improvement on current lifestyle.
I think you may need more than money to start a successful bike company.
I'm with wwaswas on that. What's the best way to make a million in the bike industry - start with two. Mostly because I'd just spend it on shiny things.
Unless you already have that kind of cash, a million will see you right for a long time, ie Life.
Handled properly and sensibly it would make a massive difference - House without a mortgage? Tick!
Nice car? Tick!
Buffering up Pensions/retirement income? Tick!
If you have those sorted your ready to relax.
And bestest bike garage ever...!
Of course it won't get you a millionaires lifestyle for long, but you'd be comfortable doing whatever you wanted for a few years
It would certainly change my direction in life
House in France, not far from the Alps, build a woodworking shed, ride when I wanted to, skiing and snowboarding in winter
That would do me
Buy house in hilly part of the world, part time job to keep you sane. I could happily live off that for the rest of my days
Probably right jambo but an idiots always an idiot regardless of the cash in the bank 😉
Awesome. A million quid would be significantly life changing for me and the misses. If anyone doesn't think it's much money feel free to chuck it our way.
Id keep working, as i quite like my job and id be bored out my tits otherwise. It would be nice to think that everything i earn from now on is cash i can spunk up the wall without a care and i could leave whenever i get bored.
besides, i imagine that 1 million buys considerably better looking hookers and better quality coke...
If this story is true. Then yes, good luck to the winner. I hope they get what they want from the win.
🙂
1million might not be enough to live a millionaires lifestyle but it would mean a change in lifestyle for the majority of us I suspect. It'd probably mean a low wage job riding my bike somewhere sunny for me 🙂
Errr.... yes. It is.
no it isn’t. it certainly wouldn’t stop me working (but then i love my job) i would either spend none of it and take the interest or it would buy a reasonable property in a ‘middle class’ area of london
i guess if you lived in the north on the minimum wage it would make a lot more difference.
this was either foolish or an ideal way to spend your millions, depends on your outlook
[url= http://en.wikipedia.org/wiki/Michael_Carroll_(lottery_winner) ]http://en.wikipedia.org/wiki/Michael_Carroll_(lottery_winner)[/url]
I'd put it straight into a high interest goverment bond saving account for 10 years. The income would be between £50-90k per year (pre tax) making a very nice additional income. Buy another (additional) house and rent it out, and keep on going.
Money makes money.
EDIT - I also wouldn't leave my job.
[i] MrSmith - Member
Errr.... yes. It is.
no it isn’t. it certainly wouldn’t stop me working (but then i love my job) i would either spend none of it and take the interest or it would buy a reasonable property in a ‘middle class’ area of london [/i]
Presumably you'd still continue to argue online though 😉
[i]I also wouldn't leave my job. [/i]
Oh, I most definitely would... And I don't even know what job you do.
There's some boring people on here!
£1,000,000 and you'dive your current house a lick of paint?
Buy a very nice house, and a nice car (Jag estate/Range Rover, not Aston/Ferrari), spend a few months doing all the things on my (fun) to do list.
Stick the other half in safe-ish investments and you'd still be getting a return of £50k/year, more than enough to give you the choice of living a 'millionaires' lifestyle and working, or being on permenant holliday.
Heck, even if you invested it all and made no imediate lifestyle purchases you'd get £100k a year out of something as simple as buy to let, or stick it all in as deposits on 80% LTV mortgages and you'd be making £300k a year after you've paid the interest!
Some of you must be realy rich if that sort of money isn't life changeing!
I'd leave my job, I'm not saying how much I earn but why would I spend 40 hours a week earning less than my bank ballance would in interest just in a high street savings account?
no it isn’t.
eh? if you have a million in the bank you are a millionaire & qed live a millionaires lifestyle
Mr Smith.
You would take a golden ticket to total financial freedom and spend it on a semi in Twickenham?
Good for you.
I think I'm happier with my dream, cheers all the same.
+1 Kryton57
I was idly contemplating this the other day, and concluded that I'd probably stay in my current job until we've finished the project.
In financial terms, I'd still be some way behind every board member and probably behind several of the tier 2 directors at my current shop.
Not all of us hate work....
I'd put it straight into a high interest goverment bond saving account for 10 years. The income would be between £50-90k per year (pre tax) making a very nice additional income
Can you show me these government savings that are paying 5-9% gross interest?
if you have a million in the bank you are a millionaire & qed live a millionaires lifestyle
Depends what you mean by a millionaire lifestyle. If it's never working and spending your time on permanent holiday then yes. If it's buying ferraris and private yachts, then no.
[i]Buy a very nice house[/i]
a three bedroom thirties semi round the corner from me went for over £500,000 a few months back.
I think people don;t understand quite what some of the South East is like for property.
And, no I wouldn't move somewhere cheaper for housing just to get a bigger house, we like living here, my wife has a good job (and so do I) and the kids like it here too.
[i]Some of you must be realy rich if that sort of money isn't life changeing! [/i]
Well, with all due respect. I think you'll find that the coke, booze and hookers gets a little boring, after a while.
Edit;
[i]Buy a very nice house[/i]
What? and then hand the rest of your winnings over in council tax.
Nooo way.
It wouldn't even buy you an average sized house in the nice London boroughs....
If (when) I win the lottery, the last place I'd want to live is London!
This would do
http://www.rightmove.co.uk/property-for-sale/property-47521687.html
A million should be worth around £30,000 pa (index-linked) for the rest of your life: obviously retirement would depend on outgoings and commitments (large mortgage, 3 young kids and non-working spouse might be tough) but a lot of people don't earn that much and get by ok.
Wwaswas & Southerners in general. You need your heads checking, round the corner from me. (wouldn't splurge like that myself but for those wanting to drop the cash on property)
http://www.rightmove.co.uk/property-for-sale/property-46220233.html
With a million pounds I'd buy a small stone cottage somewhere in the middle of nowhere and never stress about anything ever again.
a million could bring in 40k gbp gross income via smart property investment, plus any capital appreciation of course.
With no debt & 2-3 nice investments you could dabble in a few other investments, shares, currencies etc.
I'd be v happy with it...isn't the avg retirement pot in UK c 25k I seem to remember.
Well it's £1M tax free. Or about £1.5M post tax. 50yrs work at current average earnings.
Its enough to give most people financial security for life and flexibility to do what they wish. I'd certainly not be working as hard and cycling more.
I think people don;t understand quite what some of the South East is like for property
i think they understand there are considerably nicer places to live for a lot less money and better quality of life....
Can you show me these government savings that are paying 5-9% gross interest?
Brazil, Russia, India, Turkey and Singapore are all offering 10Y bonds with interest rates between 5.7 and ~13% dependent upon investment value, and source.
You're taking a risk with all of them, but it's not like you need to invest it all in one place.
has she started looking a everyone suspiciously yet? that's more money than I'll earn in my whole life.
Not a massive amount of Money these day's is it.
ahhh, stw gold.
20 years at 50k per year?
Yeah crap amount of money
Yeah, and starting off with the interest on 1 million around @ 50k-ish a year? Tricky one. I think with my extravagant spending, I'd definitely have to continue working. Maybe even do a bit of over time. 🙄
What chambord said, up north or north west in scotland.
Although id have a decent workshop near by to keep me occupied when not cycling 🙂
Between now and my planned retirement age, I am likey to earn roughly £422500, before tax.
A million quid (is it tax free?) would be completely life changing.
She is one lucky lady.
Bikingcatastrophe - MemberBut the key thing that a lot of people don't seem to appreciate is that having £1m does not open a gateway to living life like a millionaire. There is a distinction between the two.
I don't think anyone has said that the door would be open to them living like a millionaire.
Most people would be happy just to have the security of knowing that the house is paid for and they have some money in the bank to open opportunities.
No pressure to have to stay in a job you don't like, you could just leave and re-train. Do something you've always wanted to do, set your own business up, go travelling for a while. It would definitely give you options.
[i]i think they understand there are considerably nicer places to live for a lot less money and better quality of life.... [/i]
I suspect that largely depends on how you define 'quality of life', though.
It's all about compromise (even if you have a million quid in the bank) and, currently, we're happy with the balance we have for us and our children between cost of living, location and 'lifestyle'. It might not suit everyone but it suits us and a million quid would be nice and all that but it wouldn't fundamentally change how we lived our lives for the next 10 years or so.
20 years at 50k per year?
Yeah crap amount of money
Yeah, and starting off with the interest on 1 million around @ 50k-ish a year? Tricky one. I think with my extravagant spending, I'd definitely have to continue working. Maybe even do a bit of over time. 🙄
I'd carry on working, however that's not to say it'd be bloody difficult - I'm sure that the "Don't fancy working today" days would increase ten fold because I'd be comfortably well off.
i think they understand there are considerably nicer places to live for a lot less money and better quality of life....
about 20 million people seem to think differnetly otherwise they would all be moving north to the land of opportunity and cheap property.
A quick bit of maths suggests I could pay myself £30k a year, with 2% rise each year to account for inflation, save the rest at 4% interest rate and have over £10m in the bank after 60yrs. I could quit my job and live off an income significantly higher than I currently earn for the rest of my life. I could afford to learn to drive and buy a car though I'm not sure I'd bother moving as I like my house already. £1m will go a long way if you're not an ostentatious idiot.