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

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    Pffft.

    I'd buy myself a Tesla electric car (let's say this costs me £75k for the high end one rounding up), spend £500k-600k on a decent house in a nice area, then live life to its full, using the remaining £325k to ensure I am optimally primed in a good job to make more money.

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    (Original post by william walker)
    That depends where you are. In some places they will drop. However the price of the house doesn't matter if you are renting. So you should be thinking about the rental market and if that will increase or decrease. You are at the mid level of the price for rents. So less people looking to rent and less competition than the lower level. So you may want £1,000 a month, but you could get 800 a month a year from now. Then you have a problem of people not renting for months. So you have no income at all. Stocks aren't risky, it depends which plan you use. Some things are risky, other things aren't.
    There is a shortage of houses around my area and my dad knows plenty of people looking for homes to rent where I live for that price.
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    Pay off the mortgage, take a few months off work, bank some, invest the rest.
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    (Original post by hihihihihi)
    There is a shortage of houses around my area and my dad knows plenty of people looking for homes to rent where I live for that price.
    So would you dad be renting the houses? Or an estate agents?
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    (Original post by william walker)
    So would you dad be renting the houses? Or an estate agents?
    I'd rent them out privately.
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    (Original post by hihihihihi)
    I'd rent them out privately.
    Good luck with that.
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    (Original post by william walker)
    Good luck with that.
    If you have nice houses, in really good areas you can let them privately without estate agents really easily.
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    (Original post by DiddyDec)
    Why would you go to gun club with a pair shotguns? Surely you would go on a shoot with your custom made Holland and Holland Range Rover. And if you simply wanted to show off how rich you were you would go for the Damascus barrels they are the definition of sexy.

    http://hollandandholland.com/lifestyle/range-rover/



    That "military" rifle has enough power to take down elephant in one shot.
    When at the gun club are you going to need enough power to take down an elephant in the UK? Sure, bragging rights and everything, but unless you're going hunting for real you aren't going to need that kind of power behind you. In that case you wouldn't be taking a Purdey with you hunting anyway.

    Damascus barrels are good looking but can't be that expensive as I have a Damascus steel knife that I got for about £40. Purdeys cost upwards of £70,000. Anyone who knows anything about guns knows how prestigious Purdey guns are.
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    (Original post by doctor_2_be)
    treat my family to whatever they want,
    buy my brother the Armani suit he's been eyeing up since forever
    open an orphanage in a poor country
    invest 20%
    give 10% to charity
    don't really want anything for myself, I like my life the way it is and would still work hard and earn money because I like the feeling I get when I earn everything I want regardless of how big or small. makes it so much more worth it
    You do know how much 1million is right...?


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    (Original post by CherryCherryBoomBoom)
    Ooh, lots of things:

    - buy a nice house with a garden/farm for my boyfriend and I
    - buy us loads of pets
    - get married to said boyfriend
    - buy myself a Fiat 500
    - give some to my parents and sisters
    - go travelling to every country I've ever dreamed of visiting
    - buy and run my own pub/bar and backpackers hostel
    - give some to charity
    - talk to a financial adviser about other ways I could invest the money so I don't have to work much throughout the rest of my life
    Again it's only 1million......


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    If you want security of investment then by £700,000 worth of land a plant trees on it. Some hard wood and some soft wood, a 30/70 split. Plant 20 acres a year then wait wait 25 years and you have the crop which you can then cut down and sell. You would be looking at 400,000-450,000 each crop. So within 300 years that would be looking at 4.8 million. This the main way the Aristocracy makes money now. They cut down a few hectares of tree and sell them for £40,000, spend 10,000 getting the wood out and then you have a 75% profit.
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    (Original post by Masih ad-Dajjal)
    If you have nice houses, in really good areas you can let them privately without estate agents really easily.
    Again, good luck with that.
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    (Original post by william walker)
    Again, good luck with that.
    My parents are landlords, I know this from experience.
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    (Original post by Masih ad-Dajjal)
    My parents are landlords, I know this from experience.
    So are mine. I know this from experience.
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    (Original post by william walker)
    So are mine. I know this from experience.
    Know what? :confused:

    You are just odd, go away shoo.
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    (Original post by Masih ad-Dajjal)
    Know what? :confused:

    You are just odd, go away shoo.
    I was here first.
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    Save a third, buy a decent house with some to rent out, split the rest with my mum
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    £10 thousand to each of my immediate family,keep enough for uni then the rest to charity, I don't need it.....
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    Invest it all.
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    (Original post by drbluebox)
    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.
    Oh OK, good point. I have heard stories of a bit too much charity money going on admin costs and senior manager pockets, rather than to the actual cause, so yes I'd have to research a charity and its spending before I decide to invest a lot of money into it :yep:

    (Original post by Failingstudent98)
    Again it's only 1million......


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    Ha, fair enough. Well, I am a dreamer, and perhaps I couldn't really afford to buy and run a pub or hostel along with everything else on that list unless I had multi-millions; but I'm sure I could just about manage to afford all the rest. For travelling, I would do mainly backpacking trips flying economy, rather than really expensive holidays in 5 star hotels and stuff. I'd probably have to still keep working my day job for a while and see a financial adviser very early on about how I could best spend some of the money and invest a decent money for me to be able to keep living off, via properties and stuff like that.
 
 
 
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