EuroMillions - Why
When it was announced only last week that a syndicate in Liverpool and a lucky couple in South Wales had shared the top EuroMillions prize of £90 million (£45 million each) - they must have been over the moon. How lovely it would have been to go to work on the Monday, stick your fingers up to the bosses and tell them to stick their jobs - or maybe, just maybe, if you get 6 months full pay when off sick, you might just have to go on extended sick leave due to the stress of winning all that money!!
What would you do in such circumstances?
The other side to the coin is what you do about financial planning and your family. How many people would be expecting to share in your wealth, and if you gave your nearest and dearest even £1 million, would they then think how stingy you were because of the amount you had won? Playing in a syndicate certainly has its advantages in that case! You would also need to think about inheritance tax planning - if you give money away and die within 7 years, the tax man might just grab 40% of it or even the full £45 million if you passed away tomorrow. But then advice on tax planning and investment planning is also expensive - certainly you would not want to go somewhere that was going to charge 5% or more of the amount invested!
I guess in the long term, the best way might be to consider setting up a company which would have the £45 million to invest - it could purchase houses for you and family which were let rent free and then you could hand out shares in the company to friends and family if you wanted to spread your wealth - although again that has its pitfalls around the value of the shares on death, and also Corporation Tax and tax on dividends.
I mean, after having bought houses and cars for yourself, your family (or paid off their mortgages and debts), it would be drop in the ocean compared to the capital - you could expect to earn at least £5000 a day in interest without even trying! What would you do with the rest of the money?
Who knows - we can all but dream of what we would do.... It just reminds me of Brewster's millions, as fast as you could spend, you would be probably earning it back in interest!
Oh well - you have to be in it to win it, so they say... And when I won it I might just have to give some serious thought as to what I was going to do with it.
At least with the EuroMillions, this chance comes up often enough and through being in an online lottery syndicate, you have a much greater chance of winning a prize.
Talking of EuroMillions - I am not sure what they hope to achieve with the increase in the ticket price from £1.50 to £2 - yes, you get a raffle ticket which guarantees to pay one UK player £1million - but I am not sure if everyone wants to pay £2 for a ticket that they never win on.
At least Virtual World Direct has responded to this - you still only pay £5 a week for 36 entries into the Euromillions Draw but now you also get 36 raffle tickets. To pay for this, they have increased the number of people in each sydnicate to 59 which means you get a smaller share of the winnings - however, that has to be worth it, with EuroMillions still being one of the biggest lottery draws over Europe.
I still don't know why they don't expand into the thunderball draw, which gives better odds of winning the top prize. It would seem most suited to an online lottery syndicate scheme, as you could then be guaranteed to match the thunderball at least once every game!
What would you do in such circumstances?
The other side to the coin is what you do about financial planning and your family. How many people would be expecting to share in your wealth, and if you gave your nearest and dearest even £1 million, would they then think how stingy you were because of the amount you had won? Playing in a syndicate certainly has its advantages in that case! You would also need to think about inheritance tax planning - if you give money away and die within 7 years, the tax man might just grab 40% of it or even the full £45 million if you passed away tomorrow. But then advice on tax planning and investment planning is also expensive - certainly you would not want to go somewhere that was going to charge 5% or more of the amount invested!
I guess in the long term, the best way might be to consider setting up a company which would have the £45 million to invest - it could purchase houses for you and family which were let rent free and then you could hand out shares in the company to friends and family if you wanted to spread your wealth - although again that has its pitfalls around the value of the shares on death, and also Corporation Tax and tax on dividends.
I mean, after having bought houses and cars for yourself, your family (or paid off their mortgages and debts), it would be drop in the ocean compared to the capital - you could expect to earn at least £5000 a day in interest without even trying! What would you do with the rest of the money?
Who knows - we can all but dream of what we would do.... It just reminds me of Brewster's millions, as fast as you could spend, you would be probably earning it back in interest!
Oh well - you have to be in it to win it, so they say... And when I won it I might just have to give some serious thought as to what I was going to do with it.
At least with the EuroMillions, this chance comes up often enough and through being in an online lottery syndicate, you have a much greater chance of winning a prize.
Talking of EuroMillions - I am not sure what they hope to achieve with the increase in the ticket price from £1.50 to £2 - yes, you get a raffle ticket which guarantees to pay one UK player £1million - but I am not sure if everyone wants to pay £2 for a ticket that they never win on.
At least Virtual World Direct has responded to this - you still only pay £5 a week for 36 entries into the Euromillions Draw but now you also get 36 raffle tickets. To pay for this, they have increased the number of people in each sydnicate to 59 which means you get a smaller share of the winnings - however, that has to be worth it, with EuroMillions still being one of the biggest lottery draws over Europe.
I still don't know why they don't expand into the thunderball draw, which gives better odds of winning the top prize. It would seem most suited to an online lottery syndicate scheme, as you could then be guaranteed to match the thunderball at least once every game!
posted by RWAP at
1:04 AM
0 Comments:
Post a Comment
<< Home