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Post by geraldine1210 on Jul 30, 2016 10:06:01 GMT
Light hearted question:
You have won a decent amount on the lottery/Euro millions, or maybe inherited from your long lost second cousin from the depths of Australia.
By decent, I am talking maybe five million pounds plus.
Would you invest on here still?
Would you invest a great deal extra?
Would you, just for the fun of it, like to sneak in and in one big whoosh, clear the SM (not again and again, but just once for the fun of it)?
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jul 30, 2016 10:21:34 GMT
Light hearted question: You have won a decent amount on the lottery/Euro millions, or maybe inherited from your long lost second cousin from the depths of Australia. By decent, I am talking maybe five million pounds plus. Would you invest on here still? Would you invest a great deal extra? Would you, just for the fun of it, like to sneak in and in one big whoosh, clear the SM (not again and again, but just once for the fun of it) I would definitely still be here. That's up to £600,000/yr interest that I didn't have the day before my unexpected gains, so that's exactly what I would do with it (spread across several platforms). I'd reinvest 50% of the interest, withdraw the rest and be a very happy bunny  .
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lofty
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Post by lofty on Jul 30, 2016 10:37:17 GMT
Light hearted question: You have won a decent amount on the lottery/Euro millions, or maybe inherited from your long lost second cousin from the depths of Australia. By decent, I am talking maybe five million pounds plus. Would you invest on here still? Would you invest a great deal extra? Would you, just for the fun of it, like to sneak in and in one big whoosh, clear the SM (not again and again, but just once for the fun of it)? I think I'd open a garden centre.
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hazellend
Member of DD Central
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Post by hazellend on Jul 30, 2016 10:46:18 GMT
I would probably not invest any more in p2p. i'd stick the whole lot into a 60:40 equities:bond investment and just live a life of luxury on the dividends
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Post by geraldine1210 on Jul 30, 2016 10:58:39 GMT
Light hearted question: You have won a decent amount on the lottery/Euro millions, or maybe inherited from your long lost second cousin from the depths of Australia. By decent, I am talking maybe five million pounds plus. Would you invest on here still? Would you invest a great deal extra? Would you, just for the fun of it, like to sneak in and in one big whoosh, clear the SM (not again and again, but just once for the fun of it) I would definitely still be here. That's up to £600,000/yr interest that I didn't have the day before my unexpected gains, so that's exactly what I would do with it (spread across several platforms). I'd reinvest 50% of the interest, withdraw the rest and be a very happy bunny . And still carry on answering our questions and doing DD. :-)
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ped
Member of DD Central
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Post by ped on Jul 30, 2016 11:16:55 GMT
Put it all on black at the casino.  |
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Post by dualinvestor on Jul 30, 2016 11:17:26 GMT
Light hearted question: You have won a decent amount on the lottery/Euro millions, or maybe inherited from your long lost second cousin from the depths of Australia. By decent, I am talking maybe five million pounds plus. Would you invest on here still? Would you invest a great deal extra? Would you, just for the fun of it, like to sneak in and in one big whoosh, clear the SM (not again and again, but just once for the fun of it)? At that sort of level you could get discretionary management from a Investment Bank, thereby access to hedge funds (who probably are involved in the finance of some of the platforms) where they aim for minimum returns of 25% minimum, with probably less risk than P2P lending. So, in short, no.
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SteveT
Member of DD Central
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Post by SteveT on Jul 30, 2016 11:33:22 GMT
I'd head over to FS and lend in £100k chunks on some of the big loans that have bonus rates up to 16/17/18% at that level.
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fasty
Member of DD Central
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Post by fasty on Jul 30, 2016 11:34:46 GMT
With that kind of money I would not feel unduly pressurised to maximise returns.
I would probably want to have a long hard think about how to use a chunk of the money to benefit other people. It might be better for my soul.
.. and then I'll chuck the rest across a selection of platforms.
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Post by wiseclerk on Jul 30, 2016 12:00:23 GMT
I sometimes wondered if there would be a personal level of wealth where I can't be bothered about trying to accumulate more. Just put it in a safe place and use it.
Some studies suggest that above a certain income level - I think it was something around 60,000 per year, earning more does not make people happier. But surely nearly everybody above this level still is trying to earn more anyway. So if there is a threshold where it becomes irrelavnt it must be much higher.
Evidence that there is indeed one is that certain millionaires (billionaires) dedicate much money (and time) on philantropic projects.
The more interesting question for me is, if I ever reach that level, how would I use the wealth, if the purpose is not to gain revneues from it.
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Post by Deleted on Jul 30, 2016 12:07:37 GMT
Every millionaire I know just wants "another 40%" to make them happy. Once they get that extra 40% they have the same feelings.
We just suffer from avarice.
I remember "Attila the stockbroker" talking about his early life after big bang (very much my generation) and his mates all agreed that after the first £10m they would stop. Guess what, they couldn't.
I see one of the latest £6m+ lottery winner just got busted for planting a cannabis farm.
You see, if you are focused enough to make money you have a monkey on your back, which means you need a focus.
I've tried a life of luxury and honestly, it is dull.
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Post by freedommmm on Jul 30, 2016 12:29:10 GMT
Every millionaire I know just wants "another 40%" to make them happy. Once they get that extra 40% they have the same feelings. We just suffer from avarice. I remember "Attila the stockbroker" talking about his early life after big bang (very much my generation) and his mates all agreed that after the first £10m they would stop. Guess what, they couldn't. I see one of the latest £6m+ lottery winner just got busted for planting a cannabis farm. You see, if you are focused enough to make money you have a monkey on your back, which means you need a focus. I've tried a life of luxury and honestly, it is dull. In that case, how many millionaires do you know? Are any of them in London? What would be good places or ways to meet more like-minded individuals in real life? With a view of creating a good social circle!
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Post by brokenbiscuits on Jul 30, 2016 13:11:39 GMT
Every millionaire I know just wants "another 40%" to make them happy. Once they get that extra 40% they have the same feelings. We just suffer from avarice. I remember "Attila the stockbroker" talking about his early life after big bang (very much my generation) and his mates all agreed that after the first £10m they would stop. Guess what, they couldn't. I see one of the latest £6m+ lottery winner just got busted for planting a cannabis farm. You see, if you are focused enough to make money you have a monkey on your back, which means you need a focus. I've tried a life of luxury and honestly, it is dull. I was thinking along the same lines, I have a pretty high savings rate and aim to save around 300k to 500k of investments so I can become financially independent... now if someone was to suddenly gift me 10x my target, well that would ruin all my plans! With £5m I would need a 1% return or less to be comfortable. So a passive investment that takes up none if my time would be the target, which is not saving stream.
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dan83
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Post by dan83 on Jul 30, 2016 13:12:42 GMT
I would open and fill the usual high interest current accounts and regular savers, I would buy my maximum share of premium bonds and open a few bonds to guarantee some interest. I'd still invest here a lot more, spend some of the earnings and re-invested it. I'd do this in both my name and my partners name.
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Post by GSV3MIaC on Jul 30, 2016 14:04:36 GMT
/mod hat off
I'd probably still invest it here (well, across several platforms) since I'm mostly doing it for fun, not because I desperately need the cash (P2P is not really, IMO, the place to be playing with cash you desperately need). I know how much I need to live (unless they invent a really expensive immortality treatment), so anything above that I can divert to wherever I think can use it better than me. At the end of the day £/$ are easy to count, but very poor indicators for happiness or proper 'wealth' in the wider sense. You only get ~100 years on the planet (this time around) .. so do you want to spend it making money, or doing what you actually enjoy (assuming the two are not completely congruent)?
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