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Spending Millions Wisely - A challenge?

Updated on February 16, 2010
"To Financial Prosperity" Cheers Everyone
"To Financial Prosperity" Cheers Everyone

Christine Laycock and Nigel Page – winners of Britain’s Biggest lottery prize won £113 Million on Friday 12 Feb 2010. About £56 Million each. Full story

*Congrats Christine & Nigel.*

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I will be in “dream land” for the next 10 minutes, while writing about how I would spend £50 Million. After reading, kindly let me know if you think I’m a wise spender or if I could do better. You’re actually helping me prepare for when that time comes. Okay, “if” that time comes.

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Family

I’d love to pimp my parents ride, so would buy mum and dad a car of their choice. Siblings -put money aside for their Uni and ask them what else they would like “within reason”.

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Another Abode

Property

Pay off my Mortgage and all other debt. Phew!!

Buy another property, as I hear people who win the lottery normally run out of money quickly. Something to fall back on, if I exhaust all the money?

Friends

Surprise friends who have truly been there for me and make me happy.

E-gifts for lovely Hubbers I’ve met on HP and that includes you.

Holidays

Virgin – Remember that Hub I wrote on Virgin Galactic (space tourism). I might have second thoughts about it. £200,000 per person for the Space Flight - take a few people.

http://hubpages.com/hub/Valentines-So-many-Virgins-and-one-takes-you-to-Space

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Visit America – one place I’ve always dreamed of travelling to and stay in a nice hotel, with a sea view. I wouldn’t mind one close to the White House. (must remember to take my Binoculars).

Might even pop into Hubpages branch with some chocolates and goodies for Maddie and Co. Also have 2 exotic holidays every year – God willing.

 

Expensive Toy

Nice car to get me from A to B.

Kids Project

Set up Saturday Dance classes for Kids and probably an after school one for Teens. Kids love dancing and they get immersed in it. This is one project I’ve had on my mind but financially, it’s so far away.

Charity

Amongst other things, I would buy some equipment for a Hospital abroad.

I get the feeling there’s still about £20 Million left to spend. What do I do with that apart from leaving it in the bank? .. or what would you do with the rest?

(Nice dream – I’ve woken up now).  Hope you win too. :)

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Lover of Poems? Enjoy my Ebook - Golden Poems

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    • Lady_E profile image
      Author

      Elena 7 years ago from London, UK

      Lol, Shazwellyn. :)

    • shazwellyn profile image

      shazwellyn 7 years ago from Great Britain

      Thanks Lady.. your avatar is always nice! I will let you have some of my winnings if you promise to do something good with it and not to use if for indulgence! What do you think to that? hehehe x

    • Lady_E profile image
      Author

      Elena 7 years ago from London, UK

      ** Thanks HP Roy - Best wishes to you too.

      ** Hi Shazwellyn, that's interesting. Well, I'm here if you need a hand. You must treat yourself to something though.

      Ps. Your new Avatar is very nice.

    • shazwellyn profile image

      shazwellyn 7 years ago from Great Britain

      I would find this a big responsibility! I could only do one thing with this money - set up a charity for homeless people here in the UK. Lots of units for independent living and supporting them to budget etc. So if I won this money, I would be in for a lot of work! x

    • H P Roychoudhury profile image

      H P Roychoudhury 7 years ago from Guwahati, India

      Let your wish get successful. Thanks.

    • Lady_E profile image
      Author

      Elena 7 years ago from London, UK

      ** Hi 2patricias, I think Pat might change her mind once Tricia comes home with the dosh. lol.Nice to read from you agan. :)

      ** Thanks Anitha. :)

    • profile image

      AnithaPriya 7 years ago

      Good!

    • 2patricias profile image

      2patricias 7 years ago from Sussex by the Sea

      We have completely different views on winning millions - or even just one million. Tricia has her plans in place, so that she will be ready to go come the day that she wins the lottery. Pat just plain doesn't want a million pounds, so she never buys a lottery ticket.

    • Lady_E profile image
      Author

      Elena 7 years ago from London, UK

      ** Hi Emievil - very wise lady. I like what you have in mind. I hope those lucky numbers come out for you. Best Wishes.

      ** Hello Fishtiger, your right. It would save me money too. I laughed when reading you'll buy the lake. They'll charge you extra for the fish in it too. Sounds like a lovely idea as I know you love fishing. Regards.

      ** That's lovely Mike. May your dreams come true. It would be lovely if everyone in life got a chance to visit the 5 continents in the world. Travelling is a beautiful experience.

      Thanks.

    • Mike Lickteig profile image

      Mike Lickteig 7 years ago from Lawrence KS USA

      I would definitely buy a nice house on a good sized chunk of land, and a nicer car. I would also take care of family and friends. I love to travel, even though I haven't been able to in some time.

      It is a fun dream, I must admit.....

      Mike

    • fishtiger58 profile image

      fishtiger58 7 years ago from Momence, Illinois

      It all sounds wonderful, but I thought you were going to be a volunteer on the virgin flight. LOL great hub Lady E. I would buy a nice cabin on lake, heck I would buy the lake.

    • emievil profile image

      emievil 7 years ago from Philippines

      Hi Lady_E. Have to agree with Ralph Deeds there as that will be my first option (if I win the lottery that is :D). Would love to put aside an amount for our retirement. Then, of course, charity. Then a business (an apartment complex will be nice), but not the risky kind. Then, something for my siblings and my mother and aunts. Finally, a simple house and a car will round my list up. The rest? Hmmmm, have to think of that first :D. Great hub. Thumbs up!

    • Lady_E profile image
      Author

      Elena 7 years ago from London, UK

      ** Thanks Fits4life - glad you enjoyed it. Wishing you success.

      ** Lol Jai. What a lovely thought. Thanks. Its true about people coming out from nowhere. Suddenly, a 3rd cousin, that one never knew existed appears. Nice to read from you.

      ** Hi Zac, I like that rock n roll style. Why not? We only live once. Best Wishes.

      ** Cheers Andromida - Wishing you lots of Millions too. Nice to read from you.

      ** Mama Mia! Hypnodude, that is so lovely. Loving the boat. You have a big heart. I hope these dreams become a reality. Best Wishes.

      Thanks everyone. :)

      **

    • hypnodude profile image

      Andrea 7 years ago from Italy

      I would divide the money in three thirds: one to spend, with a little house at Bahamas and another little one in Scotland so that my family and especially my mother can enjoy sun, which is good for bones :), the second goes to Switzerland or Austria for my retirement, the third goes to a foundation under my control to help child in orphanages. And I'd buy a nice boat so that all summers these children can see the sea.

    • profile image

      Duchess OBlunt 7 years ago

      Never heard of the saying "As poor as a church mouse?" Lady_E? Maybe it's just my "countrified" view of the world. I like your view though, castles are a definite maybe! LOL

      Yes, Eh! Oh Canada Go! Thanks for the thumbs up on that.

    • Lady_E profile image
      Author

      Elena 7 years ago from London, UK

      ** Very intersting Ralph, Very wise too. I didn't know you had to pay Tax on the lottery. The tax man must be raking it in, with all the winnings every week. So not fair. I really like the way you broke the spending down. Hmmh, seems like you have won the lottery before... Thanks for stopping.

      ** Thanks, Hello hello - glad you enjoyed it. Regards.

      ** Aaaaw, thanks Mystique. Sending lots of best wishes to you too. Nice to read from you. :)

      ** Hi Maita, hope you enjoyed the Chinese New year. Thanks for your kind words. oh.. you make me blush. Regards.

      ** Lol Duchess, your comments made me laugh. "church mouse" ? You are a Duchess. I see Royal buildings and Castles. Definitely must visit beautiful Canada. Also, well done Canada in the Winter Olympics.

    • andromida profile image

      syras mamun 7 years ago

      Spending your rest of the 20 millions unwisely is very simple for me lady_E, :). Hope you get multi-millions very soon and wish you good luck.Thank you so much.

    • Zac828 profile image

      Zac828 7 years ago from England

      That all sounds very wise and lovely; I guess that if I had that sort of money there are people I would help, then enjoy a decadent rockn'roll lifestyle. It's good to dream and who knows...you gotta be in it to win it!

    • Jai Warren profile image

      Jai Warren 7 years ago from Dallas, Deep Ellum, Texas

      Wouldn't it be wonderful to have that kind of wealth? I noticed that your plan took care of family and friends first, and then you treated yourself. Very generous! You may want to hire a bodyguard (I'll volunteer). With that kind of money, unscrupulous people tend to come out of the woodwork.

    • fits4life profile image

      Cherri Brown-Jett 7 years ago from Richmond

      I enjoyed your hub. It definently gives some good ideas.

    • profile image

      Duchess OBlunt 7 years ago

      Lady_E, your ideas sound very nice. I'd buy that second (possibly third) abode right off the bat. You'd be surprised how quickly that much money can disappear. I'm not speaking from experience you understand, as I'm probably as poor as that proverbial church mouse! But you read about it all the time.

      Take care of your parents and your children first, then have a wonderful time. I would only add that during one of your trips you should pop on up to Canada and visit. :)

    • prettydarkhorse profile image

      prettydarkhorse 7 years ago from US

      hmm nice and sweet hehe, A caring plan for a caring lady like Lady E, Maita

    • Mystique1957 profile image

      Mystique1957 7 years ago from Caracas-Venezuela

      Well, Elena...

      I think you have a very good plan there, my friend! I feel everything is covered, back ups and all the gigs. I wish with all the might of my soul that you win too. You think of everyone and that`s sweet!

      Thumbs up!

      warm regards and blessings,

      Al

    • Hello, hello, profile image

      Hello, hello, 7 years ago from London, UK

      What a cute and sweet hub. Thank you for an enjoyable read.

    • Ralph Deeds profile image

      Ralph Deeds 7 years ago from Birmingham, Michigan

      People will no doubt descent on Christine and Nigel with all kinds of ideas for investing and spending the money. I would advise them to take their time before doing anything. A good first step might be to pay off all of their debts and set aside money required for taxes if it hasn't already been deducted from the lottery prize. Then they should take their time considering what to do with the rest. Perhaps the next thing to do would be to put a sufficient amount of the money aside in a secure, conservative investment for their retirement--in the U.S. part of that might be a broad, no-load, low cost, tax efficient index mutual fund

      and part in Treasury bonds. Purchasing an annuity from a gilt edge insurance firm would also be a possibility. If they have children, they might consider establishing a trust fund for their education. Then the rest is up for grabs--a nice vacation, a new car, a nicer house, or whatever is important to both of them.

    • Lady_E profile image
      Author

      Elena 7 years ago from London, UK

      Thanks for all your comments everyone - may all your wishes come true.

      *Cheers Lorlie and I wish you the same too.

      *Wow Pete, you live that close to the White House. Amazing. Thanks for the offer of Tour guide.

      *Thanks for your good wishes Lita. Too right, I must remember the ticket. Some syndicates have their numbers come out, only to find they didn't play that week.

      *Cheers Dohn. I'd also be able to visit that part of the world where your Story (Revenge) is set. Regards.

      *Amen to that Deborrah. Home/School for young mothers is a good idea. Thanks

    • DeBorrah K. Ogans profile image

      DeBorrah K Ogans 7 years ago

      Lady E, Your ideas are lovely! Your priorities are in the right place! There is nothing wrong with wishful thinking! There is Joy in wanting to be able to freely give... I hope the Lord gives you the desires of your heart!

      Hmm I think I would open a home/school to help young mothers...

      Thank you for sharing your delightful dreams. One never knows what the Lord has in store for them... Much Love & Blessings!

    • dohn121 profile image

      dohn121 7 years ago from Hudson Valley, New York

      You're really not asking for much, Elena. I hope it comes true for you :) I especially like how you have a propensity to help others. Now that's invaluable :D

    • Lita C. Malicdem profile image

      Lita C. Malicdem 7 years ago from Philippines

      It's not bad to indulge in wishful thinking. Who knows? With your very noble plan on how you would spend that dream lottery prize, Fate will smile at you. Go, go, girl- but first buy a ticket now. Good luck!

    • Pete Maida profile image

      Pete Maida 7 years ago

      Come to Washington. We live thirty minutes from the White House and we love to play tour guide.

    • lorlie6 profile image

      Laurel Rogers 7 years ago from Bishop, Ca

      Who cares about wisdom with that kind of dough! :) Actually, Lady_E, I hope you do win the next one-you've got quite a rounded sense of life!