Lottery madness

February 05, 2006

I read on Friday that the Euromillions jackpot was £125 million, and I was passing a lottery kiosk so I absentmindedly bought a ticket.

Later that night, I started thinking about what I'd do with £125 million. That's insane money. We could pay off our mortgage, then we could pay off our family's mortgages, then we could pay off all our friends mortgages. We'd buy a new house. We could have whatever car/bike we wanted. We could go on holiday, whenever and wherever we wanted. I could buy a pair of Jimmy Choos. Ten pairs, if I wanted.

I'd have to give up my job. I've always said I'd carry on working if I won a lot of money - say £5 million - because it would help keep my feet on the ground. But there is no way you could have £125 million and expect your life to ever be the same again. I work for a small business as their office manager/bookkeeper. I couldn't just quit - it would cause havoc! It would be totally irresponsible.

What about Isabel? How could I refuse to buy her Disney Princess magazine when we'd got £125 million in the bank? Or for that matter, a dog, a horse, a princess castle, where does it end? I suppose we'd have to think about sending her to private school, even though I'm totally against it. How could we possibly avoid spoiling her? Her lifestyle would be changed overnight, forever. In a bad way.

All my time would be taken up making arrangements. I would have to get a PA. I would have to get an accountant, a solicitor, a cleaner, a personal trainer. For months I would spend half my life on the phone, trying to get things arranged. I would be absolutely terrified. Remember, I fear change!

I sat on my bed and thought, "Oh shit".

I suddenly realised, I don't want the money. I don't even want the responsibility of giving it all to charity - who am I to say who deserves it? I don't want my life to change that radically. I'm actually quite happy with things the way they are, thanks.

I was actually physically trembling. I thought, "I shouldn't have bought the ticket. Oh god. Oh please don't let me have won, please don't, oh holy shit what have I done?"

With great trepidation I checked the numbers.

We only matched one. Thank fuck for that.

You did say that if you won the lottery, you would give it all to us.

So theres no need to worry about what you would do!
Do you really think it would be all that bad? I reckon the way to deal with that kind of money is set a side a chunk for taking care of family friends, a chunk of "stupid money" and then invest in a diversifed portfolio with the aim of paying myself a modest monthly salary while leaving as much of the remaining prinicple untouched.

The idea being leaving a legacy that should in theory be capable of support my decendants for a generation or two at the very least alot longer if managed properly.
Tarik, that's what a sensible person would do. But I'm not a sensible person :)

Will's right. Keep 5 million, use 2 to give to friends and family, 2 to give to charity, then keep 1 million for ourselves. Gordy and Will could have the other £120m. It's the only way.
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