If you won the lottery....

  WhiteTruckMan 22:19 27 Sep 2008
Locked

Where would you stash the cash? We got to wondering about this today. Banks dont seem such a safe haven these days, especially with only the first 35k protected.

The stock market doesnt look too good either at the moment.

Falling property prices mean that bricks and morter are no longer as solid as they used to be.

You'd need an unfeasably large bed to stuff it under.

So what would you do with your millions, in an attempt to at least conserve your capital?

WTM

  josie mayhem 22:30 27 Sep 2008

I would go for bricks and morter, but this is because I leave in rented accomdations, then I owuld have a good spending spree the rest of the money I think that I would spread my money around in different banks and building societies to beat the 35k limit...

  rdave13 22:38 27 Sep 2008

Shove it all in the Bank that's served me well for 37 years. Sit on the problem for a while and decide to what charities, and how much, to donate to.
That problem will be relatively easy to figure out for me.
Then I'd make sure that, with the same bank, my many offsprings would come to a possible windfall when they are aged 35 and no sooner. The thinking behind that is that by that time they'll have learnt the value of money.
What little I'd have left then I'd buy a brand new Fiesta , preferably a diesel, and just enjoy life.

  Fruit Bat /\0/\ 22:50 27 Sep 2008

I'm sure a nice Nigerian man will contact you and tell you how to make even more money.

;0)

  Brumas 22:50 27 Sep 2008

"You'd need an unfeasably large bed to stuff it under." - you know what I'm going to say, don't you......?

If I were ever that lucky I think I would opt for a Swiss bank account as I should imagine that is still pretty safe?

  MAJ 23:22 27 Sep 2008

"I think that I would spread my money around in different banks and building societies to beat the 35k limit..."

That solution needs a lot of reseach as a great many are owned or run by the same parent company, so you might not "beat the 35k limit" to the extent you might imagine, josie mayhem.

  Forum Editor 23:26 27 Sep 2008

some in property, and leave some in the bank.

  Forum Editor 23:29 27 Sep 2008

In my experience your children need money at precisely the time when they have the least of it - when they're struggling to get their first home, and haven't been working long enough to command a very high salary. In my family that happens (and still is happening) long before they're 35 years old.

I think the way to teach children the value of money is to give it to them, not deprive them of it.

  josie mayhem 23:31 27 Sep 2008

You can tell that I've never managed a million;-)

I do wonder whether the 35k safety net is based on what a individual account holds or whether it is based on the total a individual as in different accounts in total?

And would I give any to my kids? well I just tell them that they money they've already borrowed and yet to repay is cancelled I think that pretty fair as it seems I'm already there personal banking that doesn't charge intreast on loans or overdrats ;-)

  rdave13 23:46 27 Sep 2008

I somewhat agree to your statement. Offsprings will always need money, here and now!
Unless they learn for themselves the value of working hard for rewards then no lessons will be learnt in my humble opinion.
Remember we are talking of largish amounts of money here and if given on a plate will somehow diminish the need to better themselves in the work place and to learn how to survive.
Give them support, now and again, while they build up their lives, then yes, I agree.
To give a windfall at too early an age might deflate their ambitions.

  laurie53 10:29 28 Sep 2008

I'd put it in any account where the interest is tax free.

Since governments have been the cause of most of my misfortunes, I don't see why they should benefit from my good fortune!

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