...to win on the lottery to be able to give up work and live comfortably for the rest of your life...?

Just wondered really! Hardly ever do anyway but sometimes dont buy a lotto ticket purely because of the fact its 'only' a million pound jackpot, which is stupid really, still a hell a lot of money!

So could you live comfortably on say a million pound win??

What sort of annual income could you generate from that?

*By 'comfortably' i mean a good sized house, a couple of holidays a year, average family saloon car...


nothing too extravegant just a comfortable, debt/stress free lifestyle...


Just bored and contemplating what could happen!

 

It will be different for everyone. Some people earn £150K a year, others as little as £30K, so it might range from £1 million for some and £10 million for others

 

Reckon me and the Mrs could live on, roughly, £50K a year? I'm 35 so say another 40 years ahead of me, roughly?

£2M win in order to give up work & live reasonably comfortably with a nice house, nice car, couple of hols a year.

 

You'd be earning interest on that 2million though dont forget....

5% would give you the £50k a year on just £1million... your just being greedy

 

Taking inflation into account?

 

Good point Matt - hadn't thought of that.

£8M win then, just to play it safe

 

£35M would just about do it for me.

Why bother with comfortable when you can laud it?

 

See the misses is the other way around, she'll play the lottery if its a rollover. Wasnt last weeks normal £5mil jackpot enough to tempt you into playing? plus the amount of people extra who play your more likely to share the £10m between 4 people and finish with less than you would have if you played last week

Anyway, onto the question. Personally I'd be over the moon with enough cash to pay off my mortgage. Any extra is a bonus, enough to make me retire though, I dont think I would. I reckon Id get a job at McDonalds with the least amount of responsibility I could want. Walk out of the job if need be knowing I have enough cash to sit around and not worry about it. I think anything about £1mil would be enough for me to retire

 

wez - would you get a guaranteed 5% on an investment of £1M?

 

Remove your mortgage (if you've still got one) from the equation and you wouldn't really need that big a win to be comfortable. Round about the 1M should be enough for most.

But not my Wife - we'd need 8M - every 5 years or so .

 

You would struggle to get a decent ocean going cruiser for that

 

no idea to be honest mate! my knowledge of finances/investments is p1ss poor!


as reflected in my bank statements!

 

I'd be happy if it rolled over to £1BN, would see me through

 

maybe I'm wrong but if its a rollover then you've got say £4m already in the pot before anyone starts buying tickets, so your odds of winning are higher as there is 'free money' already in there. (this only works if you didn't buy a ticket for the week when no one won...)

 

The way I see i though is that all the people who played last week and didnt win the 4m will play again this week putting 8m in the kitty, then you get all the spakos playing cause theres more money in the pot... so it goes up to say 10m. but the chances of sharing the money with someone else is alot more. Hence I dont see the logical reason in playing just because theres a bigger pot.

 

Think I'd be happy with £1.3-1.5m thank you.

More the merrier though

 

Plenty of pieces of silver & gold i need ...................... Arrrrrrrrr

 

There was a programme a week ago about a young couple with one young kid who won £1.8m.
They came to the conclusion they would have to carry on working to maintain a 'reasonable' life-style.
Mind you they where going to spend £700k on a house & she had a fetish for designer handbags at about £500+
& said her business was going to be to to sell them on Ebay but she seemed to be paying top dollar for them & I didn't actually see her selling any.

They were recent winnwers so I don't know the outcome.
Amazing how little £1.8m will get you these days...still have to be very careful not to loose it all.

 

if you have more than half a liquid million, you are considered a high net worth individual. With the right broker, it's a whole different investment league.

Not even going to a hedge fund, you'll be able to get 10-15% gross return without too much exposure.

 

Which brokers can offer 10-15% return with low risk exposure?

 

and inflation mean that 2 mill this year will not buy the same amount five years on so you would have to take less out to stay even

 

10% with a balanced portfolio.......low risk would be VERY lucky to push 10% and should assume 6%

 

No amount would be enough, 'cos I'd be giving it away till the cows came home.
Yve

 

We worked this out on a quiet night shift.

I'd need £2m or greater. Its not that daft or greedy when you take out the money for a house, car, debts, etc. Once those have gone, then you can look at return investment on whats left.

 

lol I think you'll find alot of ppl earn alot less than £30K

 

I earn around 15k a year

So id be happy with 500k win. Nah thats bull****. As much as poss and ill be happy

 

There are a number of potential investments where you can avoid a vast majority of tax but you will only ever meet the investment companies when you have a large 6 or 7 figures to invest. A number of schemes will actually give you a tax rebate. As an example you can invest in the UK film industry that is very tax efficient.