Id put 1m In index funds that historically yield 6-7%, you could safely drawdown 40k a year and your pot will never run out.
Each year, move 20k out, into a S&S ISA to benefit from tax free gains.
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I think that’s something that sounds good in theory but you’d need a heck of a lot of discipline to stick to it.
All you need to do is buy a car outright (not even an expensive one), or think of treating yourself to a fancy cruise or something and it’s all out the window. I can’t see how you can live on 40k with millions sat in the bank - it’s far too low.
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That’s based on the draw down on a £1m investment though. Lottery wins in the sense of “winning the lottery” are usually tens of millions.
I’m sure you could live quite happily on £400k a year!
EDIT: Looks like I’m drastically over valuing lottery wins. £5m could equal an income on £200k, so I feel the point still stands though.
To reply to my own point from December, I went back to Berlin for the first time in a decade for a city break in mid March, the week before lockdown (timing), and I saw no such building in that part of town - disappointing
Walking around the city we did spot a few lovely streets that have definitely gone on the list of potential locations!
I’d have one built, it would no doubt cost a small fortune as I’d have the bedrooms / bathrooms / cinema room etc built underground with the living space all on the ground floor and maybe a mezzanine to a chill out space
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