What would you do with a R10Mil+ windfall?

Garson007

Garson007

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Basic premise: My parents are after a long process going to sell a high value property. They're both semi-retired, and not dependent on the windfall in any way - but it would push up the liquidity of their net worth astronomically. I'm interested in knowing what you as a random forumite would do with that kind of money, given the premise (or hell, even under a different context).
 
Garson007 said:
Basic premise: My parents are after a long process going to sell a high value property. They're both semi-retired, and not dependent on the windfall in any way - but it would push up the liquidity of their net worth astronomically. I'm interested in knowing what you as a random forumite would do with that kind of money, given the premise (or hell, even under a different context).
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All on black 22
 
So assume they've spent their lives building up and saving and now want to change gear and have a little fun!

Assume zero debt - would probably invest it in a level 2 - 4 risk unit trust that has returns of 7 - 10%, do some sums of monthly costs and then draw out 6% to do what I wanted, travel would probably be first on the list
 
Neoprod said:
Are they old-old or just normal old (70's versus 50's)?
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My father hit retirement age (65) last year, which has forced him to retire from a permanent position. He currently works on a four-day month-to-month contract, which is likely to run out end of next month. I don't even think he's finished with setting up his pension, but it will be effective in keeping his current upper middle-class lifestyle.
 
Garson007 said:
Basic premise: My parents are after a long process going to sell a high value property. They're both semi-retired, and not dependent on the windfall in any way - but it would push up the liquidity of their net worth astronomically. I'm interested in knowing what you as a random forumite would do with that kind of money, given the premise (or hell, even under a different context).
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Hookers and blow.

But really with that sort of money I agree with Konfab, debt, then invest in such a way that I can keep busy with my hobbies (travel, photography etc.), or invest in new hobbies to pass my semi-retirement. If neither of them have dual citizenship I'd consider looking at a Golden Visa program, just to keep international options open (not just for me but for my kids).
 
10 bar should easily get you 1-2 bar a year on interest along.

You should be able to live well and still save on that.
 
Neoprod said:
who gives you 10%-20% interest? Banks suck, man.
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There are many investments that have been returning annualized returns of 15% and more for the last 5 years.

If you keep your money in a bank account or money market, well, you making someone else rich.
 
I work with a charity that has been given notice at their current property. I would donate them a new one.
And the rest I would save in a different country.
 
Garson007 said:
Basic premise: My parents are after a long process going to sell a high value property. They're both semi-retired, and not dependent on the windfall in any way - but it would push up the liquidity of their net worth astronomically. I'm interested in knowing what you as a random forumite would do with that kind of money, given the premise (or hell, even under a different context).
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Dissappear ........

Seriously,
Pay off all debts,
Invest the rest
 
whatwhat said:
There are many investments that have been returning annualized returns of 15% and more for the last 5 years.

If you keep your money in a bank account or money market, well, you making someone else rich.
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Investment returns <> interest.
 
Invest half and share the remainder with close family members. Charity begins at home...
 
Pay off all debt and live off interest of short term fixed deposits at 2 separate banks.
 
Hemi300c said:
Pay off all debt and live off interest of short term fixed deposits at 2 separate banks.
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this isn't a bad idea...one smaller portion for a shorter term than the other to provide access in case of emergency. You can negotiate a higher interest rate for a significant deposit (over 100K at my bank, Standard).
 
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