Gambling bad etc etc. But, it’s a fun hypothetical!
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Monzo 1p challenge (x4)
Just to be sure of ongoing financial stability.
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I feel the sensible thing to do is put £100k in HSBC to qualify for Premier, put £20k into the GIC, £50k into the bonus saver, and £30k into a fixed rate saver.
Then every tax year deposit another £20k into the GIC, and for the rest of the money just put it in the highest possible interest savings. With a mix of easy access, limited access (either by withdrawals or by notice), and fixed rate savers.
But not too many savers because you’re going to have a fun SATR to send in to HMRC with all that interest (you’d need 8 savings accounts + HSBC UK to split a £1m Premium Bonds win for example).
If it was a lottery win then one would be looking to save this with NS&I so the entire deposit is protected by HM Treasury. If it’s a multi million lottery win though then the investment side of things matters less. If you win £10m then you don’t need to invest, as you’ve enough for a comfortable retirement if you set aside £2m.
- Any debts (student loan etc)
- House
- Family
- Wedding
- Friends
- Retirement
- Holiday
- ALL THE STUFF I WANT
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After settling all the debts and figuring out all tax liabilities, I’d pay for an IFA to help me plan for a life not tied to the UK - maybe a golden visa route for retirement in a Mediterranean country. 
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I really hope life takes you far because this is the dullest way anyone could have replied to this topic.
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A house probably in/around Chester, with a big garden and trees for the cats. That’s half gone, the other sat in Lloyds or some other biggy bank wilting away.
I’d still work, I’d get bored very quickly but might use up my sick leave and annual leave going back.
Edit: for some reason I thought this post was about £1mil. That’s my plan for it anyway.
Anything more, who knows.
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I think even suggesting that with £10 million you wouldn’t invest some of it is mad!
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Lottery is tax free in UK, no?
For me, probably a house in Bristol, Paris, Barca, Shanghai, Seoul and one in Tokyo or Osaka. Then just go live in an EU country for a few years to get a passport. After I rotate between all the different countries based on what friends I want to hang around with at what time.
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It is yes
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Big house, fast McLaren and delete my Monzo Community account.
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It is, but your interest isn’t.
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Run into Coutts with briefcases full of my winnings
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How much we talking? £3 million on the Lottery, or 150 million on the Euromillions?
I’d behave differently depending on which I win.
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Usually, yes.
However, the top prize in the new Powerball is taxable due to the way it is paid over 30 years.
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Think some people have missed the question? What’s would be your financial setup not what would you buy?
Anyway probably upgrade to a premier NatWest account or something and invest a bunch so I never had to work again.
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That is more what I had in mind! A lot of discussion about banking products here, but not so often chatter about the banks for the super wealthy! I like to imagine there’s a forum of people debating the private banks out there…
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Depends on how much but probably just dump it in the highest interest account there is at the time and leave it for a bit and then take the interest out but again depending on how much the win was.
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Not seen anybody answer as ambitious as this guy yet
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One easy access savings account/investing and a current account that has a branch. I don’t care about the FCS limit or whatever it is, £100k on my millions is irrelevant and im not opening 10+ to keep it all protected. Most of it would be invested anyway.
Then whatever the top top top they kiss your something to get your business AmEx is. I don’t care about miles or points or cashback, I want the concierge service. I have money, I don’t have access.
“I’m going to be in NYC in 3 days. I want a table at X and I want tickets to see Y” Done! I’m far too rich to be fumbling around trying to get things that I can’t even find to buy.
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