Lottery, do you bother ?

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01 January 2013, 03:09 PM

#61

Mouser

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Quote:

Originally Posted by J4CKO

They wouldn't, we generally spend to our means, hence why a lottery win wouldn't last as long as most think, if you allowed thirty grand a year the temptation for a nice holiday or a car would kick in, worse if the money is there in your account than even a cheap loan.

I was trying to put a £1m lottery win into perspective and how long it would take to earn that amount of money. If used sensibly, the average Joe could have a very nice lifestyle. Unfortunately the lottery winners who go out and blow the lot are deemed more newsworthy.

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05 January 2013, 02:25 PM

#62

SouthWalesSam

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Quote:

Originally Posted by chocolate_o_brian

I'm sure one of the educated chaps on here said to live like a millionaire including a nice lifestyle, you'd need a win of approx. £7-8million.

@Chocolate_o_brian is absolutely right!

The amount you would need to win would be £7,500,000.

Much less than that would hardly change a thing.

And for those who think they could eke out £1 million for 15-20 years; bear in mind that in 2001 the 'millionaire lifestyle ' figure was just £3.5 million.

The effect of (even low) inflation over time would mean you'd be heading back to work after 8 to 10 years.

Sorry

(Stupid, greedy, low-life) Sam