How much would be too much?
 

A conversation the other night turned to the national lottery. We ended up deciding that about £350,000 would be around about the right amount to win. If you got over a million it would change your life but could affect your life and friendships too much. You'd be stuffed with taxes if you tried to give it away and even though you'd want to change your life it wouldn't be enough these days - a big house and a few holidays and it would be spent.

£350k would be enough to solve all immediate money problems, may be set up a business etc and have a few great holidays.

So what amount would everyone else settle for?

Re: How much would be too much?
 

A couple of nhundred grand would do me just to have a nice little place and a good holiday. If I won any more than that then I would proberly be miserable as you become a magnet for many. Its not that I would give to charity its just the thought of suddenly having best friends coming out of the walls On a plus point it could set my mum up for retirement and a little nest egg for my daughter.

Re: How much would be too much?
 

Re: How much would be too much?
 

I could easily handle a million or two but half a million would do at a pinch. When I've speculated about a substantial win (we all have our dreams) my first thought is always how much to give each of my 3 children and my second thought is how much would have to be invested so I could live comfortably on the interest to, hopefully, a very ripe old age. So you can see why I need at least half a million. :p

Just listen to me! - I get excited if I win £10. :D

Re: How much would be too much?
 

I'm quite happy thanks.:)

Re: How much would be too much?
 

i do the lottery every wednesday and saturday,,but i would NOT like to win a fortune..
your inlaws would become outlaws ,,,your real friends probably would think they were scrounging ,,,,,you would probably find that you had friends that you did not know exsisted,,,,,,,,and what could you do better with 17 million that you couldent do with 1 million.....but i supose you could help a lot of charities....:engsmil:

Re: How much would be too much?
 

It would also help towards paying for my Audi TT when I win the 'Last Person To Post' thread :D

Re: How much would be too much?
 

I dont do the lottery cos theres not enough money in to satisfy me, and if there was I wouldnt be satisfied. So I dont do the lottery. Although I am rather disturbed I didnt win the egg and spoon race when I was 8. :D

Re: How much would be too much?
 

I never lost a race at sports day.:)

God made me a winner, maybe that's why I'm happy with my lot.:)

Re: How much would be too much?
 

a cool 20 million would just about do it for me thanx.

sod the inlaws peopel i like can have a credit card with a reasonable limit :D

id be happy with enough to buy me a house im not a greedy person...........but then again the house would be worth about £5 million ...pmsfl :D :D

Re: How much would be too much?
 

I don't do the lottery either.....but hubby has an occasional flutter.....but he never wins a carrot. I have never wanted a lot of money.....as long as there is enough to pay the bills.....and a bit extra for a treat now and then I'm happy. Though IF I ever came into pots of money I would employ a vet and go to Spain.....round up all the feral cats and get them neutered. Would a million be enough for that do you think?

Re: How much would be too much?
 

You'd better make that a couple of mil Margaret, you know how expensive vets are these days..:D

I would like a cool million but a couple of hundred grand would do at a push...:D

Re: How much would be too much?
 

I won twenty-five quid on the Accy Stanley draw yesterday. By the time I'd bought everyone a drink & paid the next months subs I was 30p out of pocket. I could have done with 350K, or even better, the Euro-jackpot of £50m -now that would be nice.

Re: How much would be too much?
 

I suppose I'm greedy - I would like to win the biggy. One of my children lives in London, the other down in Sussex. The Sussex one rents a cottage, because the cheapest one-bed house/flat down there is about £200,000 minimum. So, I could give her £500,000 to buy a decent property. My son would need a large amount to buy into his partner's house, so he could have £500,000 as well. I would love to trade up from a flat to a house in London, so that would cost about £1 million. Trust fund for grandchildren's education, and enough money to set them up when they start out.

I would love to travel more - I have a list of places I want to see before I die, so I could spend on that, too.

Helping out friends would be a real pleasure, and providing for a comfortable old age - with a few luxuries thrown in.

Spent it already!

Re: How much would be too much?
 

Bear in mind that any gift you give that's over £70k (I think that's the amount) would have to have 40% tax deducted from it.

Re: How much would be too much?
 

Ok in that case gifts of 69,99.95 :D or less New Year Sales style.

Re: How much would be too much?
 

There is currently no gift tax in the Uk. The problems can arise where the person makes the gift and then dies, leaving the open question of inheritence tax. If you die within 7 years of making the gift, your Estate is responsible for 40% tax on the gift, provided your Estate is more than £263K.

Re: How much would be too much?
 

Untold riches didn't bring much happiness to the Onassis family.

Somethings like health and love can't be bought, even by lottery winners.

Re: How much would be too much?
 

Bill Gates, said to be the richest man in the world, doesn't look too miserable though. :cool:

Re: How much would be too much?
 

£200k for a decent house on a better council estate
£100k to blow on furniture and new clothes to put in my new wardrobes
couple of decent holidays
£50k slush fund
£50k rainy day money
£5k for a few hundred weight of chippings for the Stanley car parks
£150k for a roof and new bogs for the Clayton end terrace
£150 for a new sasusage warmer for the away end at Halifax (cos my sausage was really cold)
£29.99 a month for AOL Gold.

Re: How much would be too much?
 

Yes well the less said about that then the better.
;)

Re: How much would be too much?
 

WestEnder is right, Gayle. Provided you can go for seven years before you pop your clogs, there is no tax on such lifetime gifts. Also gifts made out of income are free of CTT. So, if your income is £150,000 net, you can happily hand over £70,000 without attracting tax, as you still have plenty to live on. £1 million will bring in, at a conservative estimate, £50K before tax, so with a big lottery win, you are sitting pretty.

Whatever happened to "Unto those who have not shall be given ....."?

Re: How much would be too much?
 

[quote=pendy]WestEnder is right, Gayle.


It's my job!!!! ;)

Re: How much would be too much?
 

Would the same work if a bundle was donate to ASFC?

Re: How much would be too much?
 

Depends on whether it's a business, a charity or whatever.