Dazza01

http://news.bbc.co.uk/2/hi/uk_news/n...nd/3540128.stm

Congrats to Iris Jeffrey,the lady who has won the £20 million lotto, according to the news she is suffering from cancer at the moment, so lets hope this puts a big smile across her face and helps her fight the dreadful disease.

Jerome

I hope she puts it to better use than the old biddy who won millions and all she had bought a year later was a new fridge.

Boro

iTrader: (1)

Funny you should say that, she wants a new washing machine. Pfffft, women!

Chris L

I hope she takes good advice with it. Jerome's point is well made. This may sound strange, but suddenly having a huge amount of money can be quite scary. Everyone thinks it would be great, but that is not necessarily the case.

I used to work for Coutts years ago and we had more than our fair share of lottery winners as account holders (for a lot of people - having a Coutts account is the thing you do when you win!). It is a strange thing, but if you are not used to having lots of money then it can take time to adjust - especially the elderly. I can understand how the women that Jerome mentioned is happy as she is and sees no reason to spend it. Good luck to her if that's what she wants to do.

When you win the Lottery, they provide a huge range of services all free of charge - lawyers, accountants investment advisors etc. I wonder what the percentage of lottery winners actually take up the advice or even bother to use the services? Not that many I suspect. If you've not been in that position before and never used a financial advisor, letalone an accountant - why would you need one now? Of course, Coutts like all banks, will offer these services too - the difference is they will charge you 2% of the value of your investment portfolio every year as a 'management fee'.

The one thing Iris might regret is not ticking the 'no publicity' option.

Chris

Scoob99

iTrader: (1)

Good luck Iris, get well really soon