interestrateripoff Posted August 21, 2012 Share Posted August 21, 2012 http://www.thesun.co.uk/sol/homepage/news/4497146/The-Bridge-not-too-far-for-101m-Dave.html They swapped their £70-a-week one-bed flat in Wisbech, Cambs, for a £9million mansion in Weybridge, Surrey.But Chelsea fanatic Dave has also splashed out £3.5million on a flat in plush London’s Chelsea Harbour — close to the Blues’ Stamford Bridge home. A pal said: “Dave is Chelsea mad and when he won he said he wanted to buy somewhere close to the ground so he could walk there on matchdays, have a few beers and walk home.” A bargain buy for a few beers Not sure I'd have blown £9m on a mansion, although I think I'd have been interested in that house in Nevada which was on here a few days ago. Still they've got another £90m to blow... Quote Link to comment Share on other sites More sharing options...
200p Posted August 21, 2012 Share Posted August 21, 2012 hehe the HPBull site would say they "snapped up two long term wise investments" Quote Link to comment Share on other sites More sharing options...
blackgoose Posted August 21, 2012 Share Posted August 21, 2012 Well they have already given 20 million away to friends and family. No doubt, some of these friends and family will get into money difficulties again after blowing the windfall, and need some more 'help'. If they stay together, they will not manage to spend all of their money. However, it can't be long before they realise that they could both go off with much better looking younger model. That is when the money will really start to leak away. Quote Link to comment Share on other sites More sharing options...
Odysseus Posted August 21, 2012 Share Posted August 21, 2012 http://www.thesun.co...-101m-Dave.html A bargain buy for a few beers Not sure I'd have blown £9m on a mansion, although I think I'd have been interested in that house in Nevada which was on here a few days ago. Still they've got another £90m to blow... Just a shame that Chelski are planning to move to a new ground at Battersea Power Station. I suppose he can always expand his portfolio with another property there. Quote Link to comment Share on other sites More sharing options...
Squeeky Posted August 21, 2012 Share Posted August 21, 2012 Well the guy is 48 and has 101 million to spend. Assuming everything he spends money on becomes instantly worthless, he needs to spend at least 2 million a year, otherwise it is just wasted. - you can't really spend it when you're dead. Would be such a hardship, lucky sod Quote Link to comment Share on other sites More sharing options...
winkie Posted August 21, 2012 Share Posted August 21, 2012 There are only a few things that you can do with money when you have too much of it....bit of a headache, a responsibility, can upset too many people, lose good friends, create bad feeling, loss of privacy, sharks surround you....oh dear "be careful what you wish for" as they say. Quote Link to comment Share on other sites More sharing options...
Lepista Posted August 21, 2012 Share Posted August 21, 2012 Well the guy is 48 and has 101 million to spend. Assuming everything he spends money on becomes instantly worthless, he needs to spend at least 2 million a year, otherwise it is just wasted. - you can't really spend it when you're dead. Would be such a hardship, lucky sod Given that the money he doesn't spend is accruing interest, then he more likely needs to spend £4million a year in order to spend it all by the time he's dead. Quote Link to comment Share on other sites More sharing options...
JohnLennon Posted August 21, 2012 Share Posted August 21, 2012 Why do most lottery winners 'appear to be' ugly fat tossers, the type who shout in beer gardens and 'think' they are 'hard'? Quote Link to comment Share on other sites More sharing options...
Squeeky Posted August 21, 2012 Share Posted August 21, 2012 Given that the money he doesn't spend is accruing interest, then he more likely needs to spend £4million a year in order to spend it all by the time he's dead. Yup, fail to spend enough and the damn stuff just keeps growing. Then add to that, half the stuff you buy with it goes up in value and still you haven't got rid of it all. It's a curse I tell ya. Quote Link to comment Share on other sites More sharing options...
porca misèria Posted August 21, 2012 Share Posted August 21, 2012 Well the guy is 48 and has 101 million to spend. Assuming everything he spends money on becomes instantly worthless, he needs to spend at least 2 million a year, otherwise it is just wasted. - you can't really spend it when you're dead. Would be such a hardship, lucky sod Was it not Carnegie who said that he who dies rich, dies disgraced? Once it becomes clear that your fortune exceeds what you can ever spend, your thoughts can turn to legacy: hence the tradition of endowments, philanthropists, et al in which Carnegie himself was prominent. Not that £100m puts them in that league, unless they invest it successfully. Are they young enough to have the energy to be building a business from scratch? Quote Link to comment Share on other sites More sharing options...
bendy Posted August 21, 2012 Share Posted August 21, 2012 Good luck to him – seems a little shallow in my view but each to their own. Will the relationship last? When a major purchase is ‘Great, I can enjoy more time at the footy’, it doesn’t give the impression of that strong of a bond in the first place, but who knows – she might like footy too! Quote Link to comment Share on other sites More sharing options...
Bob Loblaw Posted August 21, 2012 Share Posted August 21, 2012 http://www.thesun.co...-101m-Dave.html A bargain buy for a few beers Not sure I'd have blown £9m on a mansion, although I think I'd have been interested in that house in Nevada which was on here a few days ago. Still they've got another £90m to blow... When does spending money become 'blowing' money? Will you 'blow' your money on a house when they become affordable? Seems tabloid language is rubbing off on people. Quote Link to comment Share on other sites More sharing options...
200p Posted August 21, 2012 Share Posted August 21, 2012 (edited) Well at least they didn't spend it all on BTLs. Let's see £150m debt free BTLs at £150K each, that's 150m/150K = 1000 BTLs If each spewed off a low void rent of £500pcm (allow a few each year % for inflation linked rent increases) that's gross £500,000 per month (4%pa yield) they could spend for the rest of their lives, any many generations after them, as long as they never resell the assets, minus paying their taxes due, and allow for building repair and maintenance. --- Edit, whoops I've not really followed this story too closely, I thought it was £150m - but you get the drift. The numbers are perfectly scalable. Edited August 21, 2012 by MrTReturns Quote Link to comment Share on other sites More sharing options...
Stainless Sam Posted August 21, 2012 Share Posted August 21, 2012 Why do most lottery winners 'appear to be' ugly fat tossers, the type who shout in beer gardens and 'think' they are 'hard'? ...........or work in a charity shop like the wife did, despite the fact they lived in a 1 bed flat. Quote Link to comment Share on other sites More sharing options...
200p Posted August 21, 2012 Share Posted August 21, 2012 48 - aren't they boomers with 4 bed detached homes! But they lived in a 1 bed flat! Does not compute. Quote Link to comment Share on other sites More sharing options...
JohnLennon Posted August 21, 2012 Share Posted August 21, 2012 ...........or work in a charity shop like the wife did, despite the fact they lived in a 1 bed flat. why does having a 1 bed flat negate working in a charity shop? Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted August 21, 2012 Author Share Posted August 21, 2012 Yup, fail to spend enough and the damn stuff just keeps growing. Then add to that, half the stuff you buy with it goes up in value and still you haven't got rid of it all. It's a curse I tell ya. Brewsters millions. Quote Link to comment Share on other sites More sharing options...
Austin Allegro Posted August 21, 2012 Share Posted August 21, 2012 There are only a few things that you can do with money when you have too much of it....bit of a headache, a responsibility, can upset too many people, lose good friends, create bad feeling, loss of privacy, sharks surround you....oh dear "be careful what you wish for" as they say. Here in Hungary, lottery winners are never named or given any publicity, in case the Mafia goes after them. Of course, that could mean that nobody actually ever wins it! Quote Link to comment Share on other sites More sharing options...
Diver Dan Posted August 21, 2012 Share Posted August 21, 2012 Why do most lottery winners 'appear to be' ugly fat tossers, the type who shout in beer gardens and 'think' they are 'hard'? Would it really make a difference if he had said that his flat in London was to be closer to Covent Garden because he loves the opera? Quote Link to comment Share on other sites More sharing options...
200p Posted August 21, 2012 Share Posted August 21, 2012 They haven't got the billionaire mindset luckily. £100m is never enough. You could buy a UK factory for £100m, offshore it, sell the land to Taylor Wimpey, and double your money. Keep doing it until: 1. You are a billionaire or a trillionaire 2. You run out of factories to buy 3. Home prices drop because you have added so much supply, and you can't do this no more 4. They can't drop interest rates no more or lengthen mortgage terms no more Quote Link to comment Share on other sites More sharing options...
zugzwang Posted August 21, 2012 Share Posted August 21, 2012 I'm happy they've managed to keep a bit to invest in property. I was worried they were going to blow it all on ipods. You could get a really massive iphone with that much cash. Quote Link to comment Share on other sites More sharing options...
gadget Posted August 21, 2012 Share Posted August 21, 2012 Given that the money he doesn't spend is accruing interest, then he more likely needs to spend £4million a year in order to spend it all by the time he's dead. Doubtful, i'd guess you're out by about a factor of ten. Ironically if you have a very large amount of cash you'll struggle to get much interest at all, probably no more than 0.5% . Check out the "maximum amounts" on all the savings accounts. Quote Link to comment Share on other sites More sharing options...
JustYield Posted August 21, 2012 Share Posted August 21, 2012 Was it not Carnegie who said that he who dies rich, dies disgraced? Once it becomes clear that your fortune exceeds what you can ever spend, your thoughts can turn to legacy: hence the tradition of endowments, philanthropists, et al in which Carnegie himself was prominent. Not that £100m puts them in that league, unless they invest it successfully. Are they young enough to have the energy to be building a business from scratch? On the Felix Dennis scale they have unexpectedly become "comfortably rich". They have zero chance of growing this wealth. They are exactly the wrong age (late 40s going on 50s given their hard life up to now) for this to change their lives in any moral or inspirational way... they will squander it, whether by giving it away to people who then squander it, by buying over-priced assets, tax leakage and/or by creating drama (probably by leaving each other for younger partners as mentioned above). And what's up with their teeth? Quote Link to comment Share on other sites More sharing options...
Nationalist Posted August 21, 2012 Share Posted August 21, 2012 OK, let's start taking bets: how long before they end up back in the 1-bed flat with nothing to show for the win except cirrhosis of the liver and a ruptured septum? Quote Link to comment Share on other sites More sharing options...
Executive Sadman Posted August 21, 2012 Share Posted August 21, 2012 Why do most lottery winners 'appear to be' ugly fat tossers, the type who shout in beer gardens and 'think' they are 'hard'? Because that's about 9/10th's of the UKs adult population? doesnt seem that way if you live in a middle class enclave, dine only at gastro pubs and shop only at M&S, but im afraid to say over the last 15 years, the UK has turned into some giant nature reserve for chavs, both native and third world. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.