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Author Topic: What do you do with your Lotto winnings?  (Read 12801 times)

Steve M Smith

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Re: What do you do with your Lotto winnings?
« Reply #40 on: August 24, 2016, 02:56:30 AM »

Some people call it a tax on stupidity.

In the UK, lottery winnings are not considered as income so are not taxed.

I don't do the lottery so I am 2 a week better off than those who do.


Steve.
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James Feenstra

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Re: What do you do with your Lotto winnings?
« Reply #41 on: August 24, 2016, 07:32:07 PM »

I should also mention that I do not have a million dollar portfolio, though you did not qualify return based on the size of the investment.
its all about %s, and you have to think of it as such or you'll get caught up. 10% of a million or 10% of a hundred is still a good return. Bigger risk gives bigger reward, but would you really want a 5-10% swing on a million dollar portfolio?

Generally with more assets it's more about preserving capital than growing it. $1000 isn't a huge risk on something that may turn out well, $50k-100k is better in something 'safe'
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TrevorMilburn

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Re: What do you do with your Lotto winnings?
« Reply #42 on: September 07, 2016, 09:28:42 AM »

In the UK, lottery winnings are not considered as income so are not taxed.

I don't do the lottery so I am 2 a week better off than those who do.


Steve.
Lottery winnings aren't taxed anywhere in Europe - the stake is what is taxed, certainly in the UK. Spending money on the Lottery, hoping to win and buy a boat/fast car/PA System/loose women etc is cheaper than actually having any of those things!
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Steve M Smith

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Re: What do you do with your Lotto winnings?
« Reply #43 on: September 08, 2016, 03:06:40 AM »

Spending money on the Lottery, hoping to win and buy a boat/fast car/PA System/loose women etc is cheaper than actually having any of those things!

I have been doing it all wrong.  I spent all my money on loose cars and fast women!

I have a friend who says that if he won the lottery, he would spend half of the money on booze and women... and waste the rest!


Steve.
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Re: What do you do with your Lotto winnings?
« Reply #43 on: September 08, 2016, 03:06:40 AM »


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