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What would you do with 1 million pounds?

66Mustang66Mustang Posts: 301Member Pioneering
edited February 7 in Coffee lounge
I thought I’d make a thread about this as a few people decided to answer it on the “ask the next person a question” thread.

I would:

Buy a small cottage up north somewhere where it is cheaper.
Buy a Ford Mustang.
Also the usual go on holiday etc.
But I would put at least the remaining £750,000ish in investments with a decent yield. With a yield of 4% (£30,000 a year) you could live very comfortably.

A bit boring but that is what I would do...

What about you?

Replies

  • woodbinewoodbine Posts: 309Member Pioneering
    £50,000 to a local foodbank, 50k to a homeless charity, 50k to each of my 2 kids, 25k to my 2 grandchildren, small cottage in the south lakes 600k to see me through (20years maybe?)
  • FranstrahanFranstrahan Posts: 896Member Pioneering
    A small cottage with 6 acres of land for my smallholding. Dogs, horses, donkeys, chickens, geese, sheep, peacocks etc. And a large outbuilding for my fish house and a couple of ponds, one ornamental, one natural. Also a rose garden and a large greenhouse for cacti. Somewhere in the country with a sea view.
  • 66Mustang66Mustang Posts: 301Member Pioneering
    Very nice ideas. :)

    I notice the constant theme so far is that we would all buy a small cottage!
  • April2018momApril2018mom Posts: 2,625Member - under moderation Disability Gamechanger
    I want to treat myself. 

    This is my list:

    A holiday. 
    A new boat
    A never-ending supply of makeup. 
  • 66Mustang66Mustang Posts: 301Member Pioneering
    edited February 7
    Very nice @April2018mom

    Do you drive boats or would you have someone to drive it for you?

    My other idea would be to not buy a house but permanently move around countries as I love travelling. A bit like a permanent holiday but I wouldn’t live in luxury just a normal life in a rented house for maybe 1-2 months then move on. This would be w good way to explore many many countries. I’m not sure how long the money would last though!! A million is a lot but not enough to last a lifetime these days especially with inflation!!
  • FranstrahanFranstrahan Posts: 896Member Pioneering
    If I was going to do something really crazy I could go back down to London and buy the little 3 bed semi my parents bought for £3000, and still have £250,000 left over!
  • 66Mustang66Mustang Posts: 301Member Pioneering
    If I was going to do something really crazy I could go back down to London and buy the little 3 bed semi my parents bought for £3000, and still have £250,000 left over!
    Wow! :D I bet it would be a good investment and keep going up in price though!
  • Ami2301Ami2301 Posts: 6,127Community champion Disability Gamechanger
    I would love a bungalow, with a big garden. Preferably living in the city as it's more accessible. Pay off my families debts. A better bed, the one we currently have is not ideal for my back. Donate to a few charities. Things that make my life a bit easier, like equipment and aids. The rest I would put in savings :)
    Disability Gamechanger - 2019
  • tommtomm Posts: 200Member Pioneering
    Emigrate, to a safer country outside of the EU and avoid paying these self-serving pigs in Westminster anything
  • poppy123456poppy123456 Posts: 17,332Community champion Disability Gamechanger
    The first thing i'd do is buy my eldest daughter and her partner a house. Buy myself and my other daughter a house, have it adapted to make it easier for me. Take my family on holiday, once my first grandchild is born. Have a headstone put on my late grandmothers grave and the rest i'd save.
    Community champion and proud winner of the 2019 empowering others award. This award was given for supporting disabled people and their families for the benefit advice i have given to members here on the community.
  • Firefly123Firefly123 Posts: 362Member Pioneering
    Set up trust funds for my 3 dependent kids well adults just about.family holiday somewhere hot would be nice. Buy an electric scooter so I could get some independence back instead of having to rely on someone pushing my wheelchair. X
  • thespicemanthespiceman Posts: 5,992Community champion Disability Gamechanger
    edited February 8
    Hello @66Mustang  Great ideas but some one such as myself has been wealthy now from riches to rags but do not care about money.

    As long enough to be happy is that more important, we all think money is the answer.

    Sometimes not. First year of my business turned over a hell of a lot of money. Suddenly I was the most attractive gentleman on the planet.

    Socially and the rest could not cope with the attention not me the money.

    The time had was working and then the business then the feed bucket family.

    Million pounds would never entertain it, does last that long.

    Remember something important the reason many of 7% of the country who are rich beyond your wildest dreams own 87%.

    Due to clever schemes, plans and behind the scenes avoidance of tax.

    Mr Taxman loves a new business starts on you straight away any one who knows that , tries to get some sort of agreement.

    I am honest and open too honest paid my tax and VAT  claimed for everything argued in offices IRS ones . Some accountants are hell bent on making your life hell as you do employ  them but have the experiences of being in control of your money.

    I once had the misfortune to have an accountant who deceived me and ended up costing me more in payments.

    Great to have a lot of money soon gets ebbed and sucked dry by those who thought were helping you but not.

    Including banks family close friends and worse the women whom you supposed to love you care for you . Taking money out your cash box or expected you to support them for them, fine first but not the whole time every time.

    Add to that the ever presence of some one you might meet who is interested in you, great fantastic love each other. In reality deceit, conned lied and finds the bulging wallet the best friend.  Roll of cash with an elastic band . 

    So here I am going to buy a car, with cash I mean not a cheque cash. Big expense why not earnt my money done well.  Go to the cash box and find it empty.

    In my own bedroom at home with my Parents my Mother . I still reeled from that one.

    Need I say more.

    Lonely man I ever met was a guy who got a compensation claim.

    Talking millions here used his wealth and attitude to buy people use and abuse them and control.

    All took as he offered them money, in a pub one time with me present.

    Not pleasant not nice at all..  On his own and lonely died.

    So there you all go have a million pounds . Enjoy it but will not.

    I do have wealth actually not money but of experience, knowledge, expertise. Wealth of being associated with my friends and support I get on here.

    Wealth of riches in love, trust and respect. Is that more important being the person you are and using the skills talents to enrich your life.

    You can be rich and enjoy life by education, learning, listening from each other.

    Must add my cup is filled but if it spills over have enough  of my riches to help others.

    Just a thought every one.  Poignant and true.  Think of the recent lottery winners.

    @thespiceman
  • OverlyAnxiousOverlyAnxious Posts: 277Member Pioneering
    edited February 8
    Spend 4 hours trying to explain my sudden change of circumstances to DWP... :p


    But realistically, very little.  I'd still be stuck with this body & brain, money wouldn't change my problems at all.  I still wouldn't be able to drive a fast/sporty car.  I still wouldn't be able to get more than ~20 minutes from home, or stay out for more than an hour, let alone take a holiday and stay somewhere else.  I wouldn't even be able to switch from value to the Finest range because the posher the food, the more ingredients I'm intolerant to.

    I don't like animals...or people...and I can't say I've had any helpful advice from the various mental health charities I've tried so there isn't really a specific charity I'd want to give any to either.  (Well, maybe a little to Scope! ;) )

    Sadly I wouldn't even be able to take the plane to Switzerland.  

    So yes, I'd buy a bungalow within my ~20 minute radius but hidden away from people and with a garden to potter in.  I'd buy a new (but boring & comfy) car, and I'd replace a few of the dodgy appliances I have now, but I wouldn't be any more content with life.



    A million isn't even that much though...if we face the terrifying thought that I might have to be alive for another 50 years; even living as frugally as I do now, £1m wouldn't cover it when you take inflation & tax into account.
  • 66Mustang66Mustang Posts: 301Member Pioneering
    Hmm @OverlyAnxious a bit concerned you want to go to Switzerland for the same reason as I do.

    Hope it’s not as sinister? 
  • OverlyAnxiousOverlyAnxious Posts: 277Member Pioneering
    66Mustang said:
    Hmm @OverlyAnxious a bit concerned you want to go to Switzerland for the same reason as I do.

    Hope it’s not as sinister? 
    I think you know exactly what I mean...

    I'd like to drive through the Alps in a red Lambourghini Muira, wearing wraparounds with a cig on the go, bit of Matt Monroe playing on the radio...and head straight into that tunnel without suspecting a thing! B)
  • 66Mustang66Mustang Posts: 301Member Pioneering
    Well, I’m into watches and you get the best ones from Switzerland! :D
  • JurphJurph Posts: 329Member Pioneering
    I have similar thoughts.

    Nice little cottage somewhere in or near the Peak District. A hot tub and a new car. Then live off what's left. I like simple things so I'd be happy.
  • FranstrahanFranstrahan Posts: 896Member Pioneering
    Love that quite a few people would like a nice little cottage in the country!
  • pollyanna1052pollyanna1052 Posts: 1,628Member Disability Gamechanger
    Like some of us have said or thought.......no amount of money would give us better health. I`d still need carers...but I`d give them the decent wage they deserve!

    I thought I`d answered this thread yesterday..but cant see my comments.

    I said I would donate money to;

    MS Society
    HSP
    Scope
    My hospice and the one my daughter works at.

    Pollsxx
  • SeanchaiSeanchai Posts: 240Member Pioneering
    edited February 10
    Great question , I think I would buy a small holiday home in the sun ....which was actually our plan when we retired.( until ill health put a stop to our plans )...My wife has now retired and i retire officially in January 2021. 
    The good weather helps our health problems greatly ( breathing problems and my wife has bad arthritis ) ... I would give a chunk to the charities I already give to just now ...and my three children and grandchildren would get a chunk . Myself and my wife have learned to live modestly ...but happy . 👍🙂
  • 66Mustang66Mustang Posts: 301Member Pioneering
    Really nice answers everyone. I notice we all would continue living relatively modestly which I thought was interesting. 
  • JurphJurph Posts: 329Member Pioneering
    66Mustang said:
    Really nice answers everyone. I notice we all would continue living relatively modestly which I thought was interesting. 
    Very interesting!

    I think illness and disability changes our priorities. 10 years ago, I would have splashed half of it on luxuries.

    Now, those luxuries are a new bed, accessible car and a better sofa.
  • 66Mustang66Mustang Posts: 301Member Pioneering
    I absolutely agree. I’ve also noticed that many of the disabled people I have met are not impressed or intimidated by wealth as lots of people are, I guess for many reasons. 

    I’ve had my issues all my life so have no past life to compare with but even my priorities have definitely changed over the last few years. As I went through education I always had dreams of getting a good job and earning lots of money but I guess as I come to terms with what I can and can’t do, achievement for me now would be to simply own a nice small house somewhere and have food in the cupboards and a reliable car for if I want to travel.

    I remember someone questioning whether a luxury lifestyle is earning £100,000 a year and having all the trappings that come with that, but no time; or is earning £20,000 a year but having time to spend with family, enjoy fresh air in the park, etc. a luxury in itself?
  • JurphJurph Posts: 329Member Pioneering
    Exactly!

    I'd take that £1m on top of what I have now, but I wouldnt give up what I have now for that £1m.
  • FranstrahanFranstrahan Posts: 896Member Pioneering
    I dont think the world views one million as a lot of money any more. Not when you can win multi millions on various lotteries. People now talk about 'a couple of hundred quid' as if it were small change. Quite frightening really when the CAB say a lot of people would be hard pressed to find £500 in an emergency. 
    The gap between the haves and have nots is now a yawning great chasm.
  • 66Mustang66Mustang Posts: 301Member Pioneering
    I think it is still a lot of money, but you are right - it is no longer a licence to live in absolute luxury for the rest of your life, as it once would have been. I think most people could still retire on a million and live modestly though.

    I remember hearing that too about finding £500. If I remember correctly it even included a lot of the middle class who, really, should have £500 stored away somewhere but in reality are spending their high monthly income each month instead of saving some of it!
  • NaughtynanNaughtynan Posts: 61Member Courageous
    A nice house with a gym and a personal trainer and a chef lol I'm a terrible cook.
  • deb74deb74 Posts: 496Member Pioneering
    Like Pollyanna. I thought I had already answered this question but my post isn't on here. I would buy myself a bungalow and go on a long awaited holiday (not been on holiday for 13 yrs)!  then I would bank the rest until I decided what to do with it.
  • zeesmumzeesmum Posts: 5Member Listener
    A world trip with my close family. Maybe bring a carer along to help with my youngest when the able-bodied family members want to go and do crazy things which are not accessible or too old for my youngest daughter.
    A nice bungalow fully kitted out so every single nook and cranny is totally accessible to my daughter. 
    All the equipment I could only dream about my daughter having atm. And IF IF there’s anything left after that I would put it away for equipment as my six year old daughter grows.
    very different things than I would have thought about buying five years ago x
  • April2018momApril2018mom Posts: 2,625Member - under moderation Disability Gamechanger
    66Mustang said:
    Very nice @April2018mom

    Do you drive boats or would you have someone to drive it for you?

    My other idea would be to not buy a house but permanently move around countries as I love travelling. A bit like a permanent holiday but I wouldn’t live in luxury just a normal life in a rented house for maybe 1-2 months then move on. This would be w good way to explore many many countries. I’m not sure how long the money would last though!! A million is a lot but not enough to last a lifetime these days especially with inflation!!
    To answer your question it would only be for the summer. My partner and I know a lot about how to operate a boat. He grew up on a boat and I spent part of my childhood on a boat. Every year my family would go away for one or two weeks on a boat trip around Surrey or Britain in the summer. So we know we can handle one without too much difficulty. 
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