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If I gave you £1m right now, what would you do with it? watch

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    (Original post by saeed97)
    Pay off all parents debts (around 50k)
    Buy gold (250k)
    Burn the rest
    why would you burn it?
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    (Original post by chantalc)
    why would you burn it?
    Because it has always been my dream to burn a sizable sum of paper money to show how worthless it is.
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    Invest in Gold and some other stuff , around 300k for that. Keep 250k for myself , rest for my parents and family.
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    (Original post by Inve)
    Not lying.
    I guess I'm a selfish ******* then :cry2: How will I break this disappointing news to my parents?
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    (Original post by AzimH)
    I guess I'm a selfish ******* then :cry2: How will I break this disappointing news to my parents?
    I never said that.

    You could do something selfless like.... give it all to your parents.
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    (Original post by Inve)
    I never said that.

    You could do something selfless like.... give it all to your parents.
    Yeah.... I like money... Money is my friend. I will probably give them like 20K but that's about it.
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    (Original post by hihihihihi)
    25k on a 1 year old BMW 4 series
    3 * 250k properties generating ~1k a month each
    175k in bonds/stocks
    50k on cars for parents + sister
    25k cash in the bank
    So you spend 75,000 on assets which will only lose value? So you generate 5% return a year on three properties. Not include building upkeep, renting costs, insurance and red tape. You would be lucky to come out with 11,000 on each property by the end of the year. Buying property is the the second most silly thing people can spend money on after cars if they want to have a good percentage profit. Bond and stocks are fine, but it depends on what about of risk you want to take and it depends how much the market grows. So the market is high right now, so your return on a moderate investment risk rating would be 4-6% on 175,000. So your return would be 7,000-10,500. After tax you would be lucky to generate £40,000 a year, not including the money lost on your cars. Which you have to live off, unless you would keep a job. You have no house and only 25,000 which you can get all. To be honest you are going about this totally the wrong way if you want to make money.
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    Honestly I have no idea, I grew up poor and still on lowish income so that would be a luxury.

    If anything it would mean I would work a zero hour job as wouldnt have to worry about working to live and buy a cheap flat in local area but its more likely I would go on gumtree and ask stay for a few weeks here and there as a lodger in different towns rather than go to hotels that way I can live in nice accomodation and cook like its my own and go for a night out whilst not being tied down.
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    (Original post by william walker)
    So you spend 75,000 on assets which will only lose value? So you generate 5% return a year on three properties. Not include building upkeep, renting costs, insurance and red tape. You would be lucky to come out with 11,000 on each property by the end of the year. Buying property is the the second most silly thing people can spend money on after cars if they want to have a good percentage profit. Bond and stocks are fine, but it depends on what about of risk you want to take and it depends how much the market grows. So the market is high right now, so your return on a moderate investment risk rating would be 4-6% on 175,000. So your return would be 7,000-10,500. After tax you would be lucky to generate £40,000 a year, not including the money lost on your cars. Which you have to live off, unless you would keep a job. You have no house and only 25,000 which you can get all. To be honest you are going about this totally the wrong way if you want to make money.
    I know right? It's a more smart move to buy cheap property and renovate them. The property prices are already heavily inflated.
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    (Original post by AzimH)
    I know right? It's a more smart move to buy cheap property and renovate them. The property prices are already heavily inflated.
    yah, my dad did that. Bought houses in Stratford when they were cheap, and now they are worth a lot plus he has done them up.
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    (Original post by a noble chance)
    I'd spend about £800k on a property in central London, keep around £60k in a savings account for living costs and various items and the other ~£140k in something like an ISA.
    ISA's don't go up to 140k. So you can't do that. You would put 6,000 in a current account, the limit in an ISA. Then the rest in 3 savings accounts.
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    (Original post by AzimH)
    I know right? It's a more smart move to buy cheap property and renovate them. The property prices are already heavily inflated.
    You can get a flat in my area in move in condition for 15 grand on the rough estate, or about 2 grand for one in need of repair, by move in condition I mean maybe some paint on the walls and floor needs varnished or carpeted but apart from that perfectly fine, the ones that need repair would be like a boarded up flat on same estate that may have damp.
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    (Original post by AzimH)
    lol at all these people wanting to give the money to charity. They are either lying or I'm one selfish *******.
    Well, I certainly wouldn't give a huge percentage of £1million to charity - certainly not over ~20% anyway. But I currently help out charities when I can anyway, and sometimes wish I could give more, and so if I was a millionaire then of course I'd do more to help where I could :yep:.

    But you shouldn't feel bad if you don't want to - your money, your choice.
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    (Original post by chantalc)
    yah, my dad did that. Bought houses in Stratford when they were cheap, and now they are worth a lot plus he has done them up.
    Your father is a smart man.. Ooh tell him I said that, also while you're at it can you tell him to let me rent one of his houses for cheap You can't blame me for trying.
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    (Original post by AzimH)
    You're father is a smart man.. Ooh tell him I said that, also while you're at it can you tell him to let me rent one of his houses for cheap You can't blame me for trying.
    your* . and he'll be really happy I've found him a random tenant of the internet
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    Fund a chair professorship at The Chancellor Masters and Scholars of University of Oxford, naming it Her Majesty The Queen of Pop Madonna's Most Loyal Little Medonster's Ray of Immaculate Praying Virginal Rebel Erotic Heart Professorship of Hard Confessional Kabbalah Musical Studies.
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    (Original post by william walker)
    So you spend 75,000 on assets which will only lose value? So you generate 5% return a year on three properties. Not include building upkeep, renting costs, insurance and red tape. You would be lucky to come out with 11,000 on each property by the end of the year. Buying property is the the second most silly thing people can spend money on after cars if they want to have a good percentage profit. Bond and stocks are fine, but it depends on what about of risk you want to take and it depends how much the market grows. So the market is high right now, so your return on a moderate investment risk rating would be 4-6% on 175,000. So your return would be 7,000-10,500. After tax you would be lucky to generate £40,000 a year, not including the money lost on your cars. Which you have to live off, unless you would keep a job. You have no house and only 25,000 which you can get all. To be honest you are going about this totally the wrong way if you want to make money.
    I would like to have some fun and I'm happy with 40k a year at 21 (reinvest this of course). I'm at uni right now so don't need my own house, and I live with my parents during the holidays, they own 3 houses themselves.
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    (Original post by AzimH)
    I know right? It's a more smart move to buy cheap property and renovate them. The property prices are already heavily inflated.
    No because then you have the costs have renovating them. I wouldn't buy house at all.
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    (Original post by CherryCherryBoomBoom)
    Well, I certainly wouldn't give a huge percentage of £1million to charity - certainly not over ~20% anyway. But I currently help out charities when I can anyway, and sometimes wish I could give more, and so if I was a millionaire then of course I'd do more to help where I could :yep:.

    But you shouldn't feel bad if you don't want to - your money, your choice.
    For the big charities the vast majority goes on costs around 90% id say as an average.

    I know this as my father runs a charity and has been invited to multiple events over the years in places like London only for the people to be shocked when he says he can't afford the expenses even if reimbursed, they said to him on phone "oh its only a few thousand" or such words, and the ones he did turn up for the big names were either using private planes or those £500 a time plane tickets, then over £500 a night for London hotels then even charge for things like the minibars taxis, expensive lunches.

    Hey recently my parents local womans group had a visit from a big name charities high up person, he travelled 60 miles by HELICOPTER! despite literally the base of the charity being 3 minutes drive from dual carriageway and then motorway to the town, it takes less than 90 minutes by car.
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    (Original post by chantalc)
    your* . and he'll be really happy I've found him a random tenant of the internet
    lool fml I'm always a grammar nazi but I flopped this time. Why am I in uni? :confused: Cool tell him that I require at least 4 bedrooms and 3 bathrooms (don't ask why) also, I can only pay him with vouchers.
 
 
 
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