Friday, 27 December 2013

What would you do if?

I've just read this article in the Daily Wail & funnily enough the same subject came up when we went out for a drink with my L&M's work colleagues, one of my L&M's colleagues was musing on what he would do with a lottery win & trying to work out how much he'd need to win to enable him & his wife not to have to work again. It is a subject he often talks about, I think he sees it as his only way of escaping a boring job.
Obviously my L&M & I wouldn't need as much as they would, we are in our late 50's/60's, they are in their 20's, but my L&M was explaining how to work it out. Unfortunately my L&M's colleague has no hobbies & no interests apart from retail therapy, so he'd need to win a huge amount of money to enable him not to work ever again. Whereas we could retire in the mortgage was paid off as our our pensions would cover our other bills, it wouldn't be an exciting life, but then we aren't really looking for excitement.
There have been a few people in the news recently who marriages collapsed after a big lottery win, were their marriages struggling anyway, did they argue over what to do with the money, who knows.
Money can often cause more problems than it solves, I'm sure that at least one relative of ours would die quicker the more money he had as he would drink himself to death or kill himself in an drink driving accident.
Until recently I always said I'd continue to work if I won a lot of money as I don't believe doing nothing is good for anyone, now I'd have to do voluntary work as I am past retirement age.
So how much would you want to win & what would you do with your winnings?


Anonymous said...

First thing we would do is stop working we have owned our home for 25 years,we could fix up Our bathrooms or better still pay some one to do it! Then a a wonderful holiday some thing we have never had,happy days.

Anonymous said...

From Margie in Toronto

My friends laugh at me because I think about how little it would take to retire - I even have it all planned out for when that ticket wins - I say $500,000 Cdn! :-) What I find amazing is that so many others say it would have to be "at least" a million dollars and even then they'd find it tough! All I can say is that I'd better be able to manage on a lot less because that's what I'll have when I retire. Like you I should be able to pay the bills but I won't be jetting off to the Caribbean for the weekend. But I bet I can still find lots to keep me interested in life - retail therapy lost it's appeal a long time ago.

maggie irvine said...

I would want to win just enough to pay off my two daughters mortgages. Then I would know they had the security of a home that nobody could take away from them. Myself I want for nothing. I firmly believe that too much money ruins lives.

keth said...

for me, enough to buy a house (not a big one, something like what we have now) and provide some money to live on. (I think I vaguely remember somewhere when the lottery first started, that a million, invested well, will provide you with around £15k a year income. could be wrong about that. but however much that would be). I'd also want enough to get through my studies: so around £30k to take my Masters and PhD studies. I'd still want to do that - that's my love and my passion, and i would do it regardless of my financial circumstances. :)

oh. and I also wouldn't tell anyone about this except my mother, and my parents-in-law (and other half of course). that way you avoid a lot of the heartache. I wouldn't do the whole flashy car thing, and while we might travel, it wouldn't be flashy travel, change as little as possible, and change it slowly, that's the key, I think, to surviving this kind of money change.

Linda Metcalf said...

I'd love to help all my brothers and sisters so they would not have to work any longer... and as I am retired I would travel while I am still physically able...and I'd give a large amount to our no kill animal shelter....then put the rest in trusts for the grands....sigh. If only!

January20 said...

I don't play the lottery or any similar games so it's unlikely to happen to me, but if I won millions, I would pay off my mortgage and keep a little bit in a savings account to make life safer financially. I would give some to my daughter of course, but not enough to ruin her life and I think I would give the rest to charity.
I can't be what I am not: I am not rich and I don't live in a mansion in a posh neighbour, so why would I think I would belong there is I won money? I don't take far flung holidays and I don't like expensive cars! Why change? That wouldn't make me happy!
Most of all, I would remain anonymous because as the article says: you're resented for spending it and resented for not spending it. I'm sure I would be resented for not giving it to the "right" charities!

The Fishops said...

Mmmm a lottery win - that would be nice. I'd buy a house with a bedroom large enough for DD. Poor kid sleeps in what's basically a large cupboard atm. Just doing that would use up all of any lottery win I think so I wouldn't need to plan on retirement just yet :-)

Just wanted to say thanks for reformatting the blessing a few days' ago, Sue. I like your idea of having a special meal for Yule as well as Christmas.

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