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spyguy

Model Lottery Winner

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Just read the post about the LL competition.

I was going to post in it in there but decided it deserves a post of its own.

Model lottery millionaire invests in property and fireworks

http://www.ft.com/cms/s/0/5bc74ca8-2d0d-11e3-8281-00144feab7de.html#axzz2gpQAxrYW

Article about how not all lottery winners p1ss it away.

Won £5.5m

'£1.5m given away to family and friends or spent (she keeps a list of where it went), about £1m on property and £1m on stocks and shares, £500,000 on starting up a fireworks business and £500,000 “floating about”'

. . .

“Hopefully, if we give it 10 or 15 years, we will get back to where we were [when she won the lottery],” she said. “The way to go is definitely property.”

I assume she's buying property in and around Wigan.

She's spent 500K on a fireworks and fancy dress shop FFS! In Wigan!

She could have bought most of Wigan centre for that!

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As buying a lottery ticket isn't a sensible punt, you wouldn't expect the typical winner (who probably does several lines) to be particularly sensible with the winnings.

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“Hopefully, if we give it 10 or 15 years, we will get back to where we were [when she won the lottery],” she said. “The way to go is definitely property.”

What an odd way to live. 5.5 million put into a crappy savings account would have yielded her around a 110k (pre-tax) per year today - last year it would have been nearer 150k.

Is that not enough? Probably works out at about 6k p/m net income. I would struggle to spend that month in, month out. It'd basically be enough to travel the world in style for the rest of your life, without even dipping into the principal.

Each to their own. Weird, as you say.

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Well, there are no winners or losers, we all end up as worm food so all that matters is enjoying yourself before you do.

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Get money spend money. Get money spend money. baaa baaa

Hopefully, if we give it 10 or 15 years, we will get back to where we were [when the day before she won the lottery]

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