Lottery, do you bother ?
28 December 2012, 04:58 PM
#31
Sounds to me like nobody can win playing the lottery, either theyr are greedy or the lower end of society, I think humans generally are greedy, we are programmed to be but I like to keep my greed in context and to place some limits on it, I dont understand people like Phillip Green, money becomes pointless after a certain point.
28 December 2012, 06:02 PM
#34
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A couple near to us won around 46 million, on a radio interview she was asked what she planned to spend it on, her reply was "we need a new stairs carpet" 
She can still be seen checking out the "whoops" shelves at our local supermarket
Although its been a while I still believe they have no real concept of just how rich they are
She can still be seen checking out the "whoops" shelves at our local supermarket
Although its been a while I still believe they have no real concept of just how rich they are
28 December 2012, 09:51 PM
#36
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lads (who i worked with) mother-in-law hit 7m jackpot
chap and his mrs (who works with me now) hit a 1.2m jackpot (7 person syndicate)
chap who used to work where i do hit a 1.2m jackpot
last 2 both work(ed) in the same place as i do currently.
chap and his mrs (who works with me now) hit a 1.2m jackpot (7 person syndicate)
chap who used to work where i do hit a 1.2m jackpot
last 2 both work(ed) in the same place as i do currently.
28 December 2012, 10:02 PM
#37
I put £10 a week on the Lotto as I'd only spend it on something else. Had a few £10's here n there and rememeber getting 4 numbers a few months back... Was kinda joyful when cashing it in to only be disapointed with £56.00
I was so certain 10yrs ago 4 numbers was a few thousands???
And on winning stories... My old bosses brother went into a supermarket and said 10 normall lottery and 5 Euro's
The stupid bint got them the wrong was around and it was only the next day when he went to complain that he had won IIRC 5million on the Euro's! I also belive he gave the girl behind the counter £5k - This was a guy who runs his own roofing company.
I was so certain 10yrs ago 4 numbers was a few thousands???
And on winning stories... My old bosses brother went into a supermarket and said 10 normall lottery and 5 Euro's
The stupid bint got them the wrong was around and it was only the next day when he went to complain that he had won IIRC 5million on the Euro's! I also belive he gave the girl behind the counter £5k - This was a guy who runs his own roofing company.
Last edited by RobsyUK; 28 December 2012 at 10:05 PM.
28 December 2012, 10:34 PM
#39
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SN's a funny place. Spend £120K on some champagne and we get told it's their money to spend as they see fit, spend £1 on a lottery ticket and you're branded stupid. Ho hum!
29 December 2012, 12:48 AM
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29 December 2012, 09:51 AM
#42
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If someone enjoys buying lottery tickets then why shouldn't they?
It's not harming anybody and some of the money goes to good causes.
There are thousands of beneficiaries, including the 2012 Olympics.
It's not harming anybody and some of the money goes to good causes.
There are thousands of beneficiaries, including the 2012 Olympics.
29 December 2012, 10:03 AM
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29 December 2012, 10:09 AM
#44
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29 December 2012, 11:42 AM
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I agree with people who say it is a tax on people who can't do maths, but the way I treat it is that someone has to win, and for the sake of a few pounds a month I like to be 'in it to win it' as they say.
Yes, it's a waste of money, but smoking and drinking is a much more expensive waste of money, and as I do neither of those things I see it as money I can afford to lose. The lottery is my 'booze and ****' if you like.
Yes, it's a waste of money, but smoking and drinking is a much more expensive waste of money, and as I do neither of those things I see it as money I can afford to lose. The lottery is my 'booze and ****' if you like.
29 December 2012, 11:52 AM
#47
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Don't really do the lottery but partial to a £2 scratch card once a month or so. Mrs won £100 not so long back and seems higher chance of winning a smaller amount.
29 December 2012, 11:53 AM
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Just out of interest, what do people generally think would be the minimum amount they would need to win to retire? I agree that as silly as it sounds £1m isn't really enough as it doesn't give you enough income. I think at £2-3m I would seriously consider it.
I remember one guy winning £1m a little while ago and he spent £150k on a Lamborghini straight away. Madness! It's just not enough money to do that and I can see him going broke very quickly.
I remember one guy winning £1m a little while ago and he spent £150k on a Lamborghini straight away. Madness! It's just not enough money to do that and I can see him going broke very quickly.
29 December 2012, 12:51 PM
#50
Just out of interest, what do people generally think would be the minimum amount they would need to win to retire? I agree that as silly as it sounds £1m isn't really enough as it doesn't give you enough income. I think at £2-3m I would seriously consider it.
I remember one guy winning £1m a little while ago and he spent £150k on a Lamborghini straight away. Madness! It's just not enough money to do that and I can see him going broke very quickly.
I remember one guy winning £1m a little while ago and he spent £150k on a Lamborghini straight away. Madness! It's just not enough money to do that and I can see him going broke very quickly.
We are lucky enough to have no debts and some meagre savings but for someone already in debt to pay of loans, a mortgage etc it would be different.
I wouldnt go out and spunk 150 grand on a Lambo, I would buy one second hand and drive it for a bit, possibly lease one or rent one when I fancied it, no point having it sat there depreciating, much better to use your cash rich status to buy houses cheaply and then BTL them, then pay for treats like a weekend in a Lambo from the income, spending 150 grand capital on something like that is barmy if you want to sustain some degree of wealth, a way to turn 150k into 70k inside three years.
29 December 2012, 12:52 PM
#51
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Just out of interest, what do people generally think would be the minimum amount they would need to win to retire? I agree that as silly as it sounds £1m isn't really enough as it doesn't give you enough income. I think at £2-3m I would seriously consider it.
I remember one guy winning £1m a little while ago and he spent £150k on a Lamborghini straight away. Madness! It's just not enough money to do that and I can see him going broke very quickly.
I remember one guy winning £1m a little while ago and he spent £150k on a Lamborghini straight away. Madness! It's just not enough money to do that and I can see him going broke very quickly.
It's a sobering thought when being a millionaire isn't enough any longer to call yourself rich.
29 December 2012, 01:19 PM
#52
At the current interest rates, I think we could probably just about retire on £1m, but it would be a very basic lifestyle, with no purchases from the capital, living purely off the interest, and with none of the trappings people would expect of a 'millionaire'.
It's a sobering thought when being a millionaire isn't enough any longer to call yourself rich.
It's a sobering thought when being a millionaire isn't enough any longer to call yourself rich.
Thirty grand on a salary, after tax is about 23 grand in your hand, 1900 a month, £441 a week which is more than a lot of people have, if from savings interest you pay twenty percent so a little better and you could probably split the interest with a partner and pay very little tax, most banks deduct it at source and you have to claim it back
Either way, for a single person without big debts it would provide a decent living, for a couple, less so and for a family, well, you need to keep working, outstandign debts would have a big bearing as better to get rid of them than pay higher interest than you are getting on the cash, this is what IFA's are for.
So, with two million I think I could retire happily and never have to work, one million, perhaps a bit more acting to provide a base level of income and the other to spend, give away and perhaps build a business.
29 December 2012, 03:48 PM
#54
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Wonder what the interest would be, thirty grand a year on a large amount like that ?
Thirty grand on a salary, after tax is about 23 grand in your hand, 1900 a month, £441 a week which is more than a lot of people have, if from savings interest you pay twenty percent so a little better and you could probably split the interest with a partner and pay very little tax, most banks deduct it at source and you have to claim it back
Either way, for a single person without big debts it would provide a decent living, for a couple, less so and for a family, well, you need to keep working, outstandign debts would have a big bearing as better to get rid of them than pay higher interest than you are getting on the cash, this is what IFA's are for.
So, with two million I think I could retire happily and never have to work, one million, perhaps a bit more acting to provide a base level of income and the other to spend, give away and perhaps build a business.
Thirty grand on a salary, after tax is about 23 grand in your hand, 1900 a month, £441 a week which is more than a lot of people have, if from savings interest you pay twenty percent so a little better and you could probably split the interest with a partner and pay very little tax, most banks deduct it at source and you have to claim it back
Either way, for a single person without big debts it would provide a decent living, for a couple, less so and for a family, well, you need to keep working, outstandign debts would have a big bearing as better to get rid of them than pay higher interest than you are getting on the cash, this is what IFA's are for.
So, with two million I think I could retire happily and never have to work, one million, perhaps a bit more acting to provide a base level of income and the other to spend, give away and perhaps build a business.
29 December 2012, 10:32 PM
#56
Not trying to to be funny but how long would it take even someone with £100k a year to amass £1m? By the time tax etc is paid and living expenses are taken into account I'm guessing it would be well over 20 years if they were frugal and assuming they received annual wage increases. Another main factor is age when considering the overall affect of winning a large sum of money which I don't think anyone has mentioned.
30 December 2012, 11:04 AM
#57
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More chance of getting sectioned doing stuff like that !
Surely the fact that the lottery has created three thousand plus millionaires, plus god knows how many other people who have had a nice windfall (me included) must count for something, plus the lottery helps lots of good causes in this country.
I like the fact for a few quid a week I have the chance of a windfall, a syndicate at the Police wont 5 plus the bonus and all got ten grand each, not me but it was greeat to see people able to pay off debts, have a holiday, replace an old banger.
I think really the prizes should be capped at perhaps 3 million, why anyone would only bother for 100 million plus, I dont get, a million would make 90 percent of the difference to most people, set for life and could buy most of the material stuff they could ever want.
That couple that won 168 million seem to be doing some good stuff, good on them.
For me, a million would see me put a hundred each away for the kids as a start in life, perhaps move and get a house with a decent garage, few quid for friends/family and stick a bit away for the future, a track day car plus a few track days, few quid to charity, perhaps a 911 but other than that I have everything I need. Would keep working if I won a million, wouldnt do much different and wouldnt go daft as it can soon go, that ten grand pair of speakers looks at you accusingly when you run out of cash after a few years of wasting it.
Surely the fact that the lottery has created three thousand plus millionaires, plus god knows how many other people who have had a nice windfall (me included) must count for something, plus the lottery helps lots of good causes in this country.
I like the fact for a few quid a week I have the chance of a windfall, a syndicate at the Police wont 5 plus the bonus and all got ten grand each, not me but it was greeat to see people able to pay off debts, have a holiday, replace an old banger.
I think really the prizes should be capped at perhaps 3 million, why anyone would only bother for 100 million plus, I dont get, a million would make 90 percent of the difference to most people, set for life and could buy most of the material stuff they could ever want.
That couple that won 168 million seem to be doing some good stuff, good on them.
For me, a million would see me put a hundred each away for the kids as a start in life, perhaps move and get a house with a decent garage, few quid for friends/family and stick a bit away for the future, a track day car plus a few track days, few quid to charity, perhaps a 911 but other than that I have everything I need. Would keep working if I won a million, wouldnt do much different and wouldnt go daft as it can soon go, that ten grand pair of speakers looks at you accusingly when you run out of cash after a few years of wasting it.
People spend plenty of money on other useless crap like ****, booze, gadgets that end up in the back of the draw.
Most I have ever won is £100 but the results speak for themselves especially when you see how often a UK winner gets the big euromillions jackpot.
The big betting companies make more than Camelot and how much of that goes to good causes? Every other week there seems to be a new betting company advertising on tv so there is only one winner there.
