"It could be you"............ What a pipe dream. (What would you do if you won the lottery?)

Member Name: yackers1

Product:	What would you do if you won the lottery?
Date:	12/12/08 (182 review reads)
Rating:

Advantages: A win would remove the stresses of everday life

Disadvantages: The odds are not stacked in our favour

The state of the economy has a major influence on my job and how busy I am. Since the economic downturn I am finding that I am getting increasingly quiet. As the banks have tightened their purse strings and decided not to lend cash merger and acquisition activity has become scarce.

All the clients trying to buy a business can't get the funding to close the deal and all our clients trying to sell their business can't get rid because the buyer cannot get funding. It is a catch 22 situation.

During a quiet spell yesterday I got thinking the reason why we work - to live. Whilst some people love their job, I think these are in the minority, I don't. If I didn't have to be here I wouldn't be, and the only reason I am is to pay the mortgage. It is then my attention drifted to a what if I won the lottery.........

It is hard to believe that the National Lottery has now been going for just over 15 years. It was the passing of the National Lottery Act 1993, through the Department of Culture, Media and Sport, who allow this game of chance.

When the Lottery started the UK was in a state of "lotto Mania". Everyone went crazy expecting to hit the big time and win the jackpot and become millionaires. As time went by and the reality of actually striking it rich hit home the popularity of the lottery decreased to today's levels.

The odds of winning the jackpot are so vast that it is not even worth calculating, however, what would you do if you won the jackpot?

Whether we like it or not, it is money that makes the world go around. Those pieces of paper and small shiny pieces of metal are so important that they dictate how we live our lives. It's sad but true.

To show how much money plays such a large part of our lives an interesting statistic released on 6 December 2008 is that from October 2007 to November 2007 calls to relate stood at 4,850. For the same period this year the calls were 7,700. The increase in calls is due to money related issues such as mortgages, the general cost of living, redundancies in these uncertain times, and the cost of kids. Relationships are being put under strain because of money.

Many people say that if they won the lottery then it wouldn't change them. I think this is a load of rubbish of course it would change you. Be it for the better, or for the worse it would change you.

A lottery win would be great to take away a large part of the stress of daily life. Knowing that the cash is going to be available to meet the next mortgage payment, the next load of utility bills, to put food on the table and to do what you want to do must be a great feeling. Knowing that this is achievable would make me less stressed out, which would definitely change my outlook on life. Knowing I can spend more time with family, friends and my other half would also change me.

If I won the lottery I would prefer to keep it private and not flaunt it. I would remain in the same house, as I love where I am, it is quiet and peaceful and the location is great. I would, however, spend a lot of the money doing it up and kitting out the inside so it was a lot more lavish.

I would buy a nice car but it would not be over the top. I would not go out and buy a Bentley, Aston Martin or anything else that would draw too much attention or show that I have some money. You are just asking for it to be vandalised. I would buy something German engineered, like a top spec Audi or BMW.

My only area of extravagance would be to buy a brand new motorcycle of my choice. Since these are not that expensive lots of people have brand new bikes and these do not confirm these people have money since they are easily affordable on a payment plan or finance agreement.

I would go on nice holidays although I would not stay in luxurious 5 star and all-inclusive hotels. I would continue to stay in the lower rating hotels (as I currently do) and eat out to experience local food and culture.

Whilst I would give up my current day job I would work otherwise I would get bored. Rather than going for a job with a high enough salary to pay the mortgage and bills, I would go for a job that I actually wanted to do. The salary wouldn't matter that much since it would be used as pocket money. I would do some charity work, bar work or work with animals.

So, how big would the win have to be to achieve the above?

Many people seem to think that that £1million would be enough to retire and live on. Whilst £1million is a lot of money, more than both I and many other people are likely to see in a life time, is it actually enough?

Working in corporate finance I have a friend who is a qualified independent financial advisor. His organisation have just purchased a program that, theoretically, lets you know how much money an individual is likely to need to retire and maintain a certain lifestyle.

By inputting expected income (interest, dividends etc), expenses (normal living expenses, such as utility bills, and irregular expenses, such as buying a car) and making assumptions with regards to future interest rates, inflation and other economic factors this program will predict times that you are likely to be cash positive or negative and your cash balance.

Whilst there are a lot of variables and assumptions so it is difficult to be accurate, this program does give some interesting results. If I maintain my current standard of living and just exist until I die £1million is not enough for me. I would need double that, and if I wanted a more lavish lifestyle I would need even more.

Based on the above I would need to work or supplement my income in some way and that is just to live the lifestyle I am now, which is not exciting or lavish.

Property would be a good purchase in these times since the housing market has nearly bottomed out (although they are still expensive) and rental properties are still in high demand because the banks have tightened the purse strings and are not lending as much money as they have been over the last couple of years.

In order to live a lavish lifestyle and retire now I would need to win big time. Guess I had better go and buy a Euro Millions ticket or wait for a rollover. Here's dreaming guys and just remember as we keep being informed by the advert "It could be you....." Yeah right.

Summary: Here's dreaming.