I've just nipped to the shop to buy a few tickets for tonight's unique EuroMillions lottery draw. Besides the usual prize structure, there is also a raffle ticket number on each ticket.
If you haven't heard about it, there will be a guaranteed 100 UK millionaires created tonight from the raffle ticket numbers.
Clearly, the odds of winning are tiny, but that didn't stop me handing over 6 quid for 3 tickets, or thinking about what I would do with a million quid. So, walking back from the shop, this is what I decided.
£60,000 - pay off existing mortgage/other debt
£500,000 - buy four 1-bed apartments in counties such as Buckinghamshire or Hertfordshire to create a monthly rental income of around £3,500, which I would then live off and then retire, to have a very nice lifestyle watching sports and seeing more of the world. Then when I reach normal retirement age, I would sell the flats.
£50,000 - gift to my brother
£25,000 - gift to my mother
£50,000 - smaller gifts to close friends
£125,000 - sell my existing house and add this to the proceeds to have a better house
£3,000 - laser eye surgery
£50,000 - speculative and long term investments
£20,000 - very nice car, probably a BMW
And then bank the rest - about £100K.
What would you do with £1,000,000 if it landed in your bank account, tax free, next week? OK I know half of you will say things like take out a contract on Owen Coyle, but what would you really do?
If you haven't heard about it, there will be a guaranteed 100 UK millionaires created tonight from the raffle ticket numbers.
Clearly, the odds of winning are tiny, but that didn't stop me handing over 6 quid for 3 tickets, or thinking about what I would do with a million quid. So, walking back from the shop, this is what I decided.
£60,000 - pay off existing mortgage/other debt
£500,000 - buy four 1-bed apartments in counties such as Buckinghamshire or Hertfordshire to create a monthly rental income of around £3,500, which I would then live off and then retire, to have a very nice lifestyle watching sports and seeing more of the world. Then when I reach normal retirement age, I would sell the flats.
£50,000 - gift to my brother
£25,000 - gift to my mother
£50,000 - smaller gifts to close friends
£125,000 - sell my existing house and add this to the proceeds to have a better house
£3,000 - laser eye surgery
£50,000 - speculative and long term investments
£20,000 - very nice car, probably a BMW
And then bank the rest - about £100K.
What would you do with £1,000,000 if it landed in your bank account, tax free, next week? OK I know half of you will say things like take out a contract on Owen Coyle, but what would you really do?