• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

Safely investing £10m in cash

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    Safely investing £10m in cash

    I don't have £10m (not yet) but I was thinking about if you won £10m on the lottery, how you could safely invest it, as cash, given that the government only guarantees a pretty tiny amount per personal account?

    I can't imagine walking into HSBC with my £10m cheque and asking to put it in my current account, are there special "high wealth" accounts with additional protection?
    Last edited by d000hg; 28 July 2015, 09:16.
    Originally posted by MaryPoppins
    I'd still not breastfeed a nazi
    Originally posted by vetran
    Urine is quite nourishing

    #2
    Whack the majority in property surely
    Socialism is inseparably interwoven with totalitarianism and the abject worship of the state.

    No Socialist Government conducting the entire life and industry of the country could afford to allow free, sharp, or violently-worded expressions of public discontent.

    Comment


      #3
      Originally posted by MicrosoftBob View Post
      Whack the majority in property surely
      That's not the question I'm asking.
      Originally posted by MaryPoppins
      I'd still not breastfeed a nazi
      Originally posted by vetran
      Urine is quite nourishing

      Comment


        #4
        Use the £10M as a small deposit for a flat in central London. Problem solved.

        3 bedroom flat for sale in One Hyde Park, 100 Knightsbridge, London, SW1X

        Comment


          #5
          You will always be limited to the £85k per institution, so you would need to open up a fair few new accounts.

          With that much you would just need to play it safe, some index trackers etc to give you 2-3% on the bulk of the money, say £5m will give you an income of £100,921 a year (@2%) which is more than enough to live off, say £3m for a respectable house somewhere nice and then you have £2m to blow on anything that takes your fancy

          With that much cash most places will give you access to their private banking and a nice shiney black card
          Last edited by SimonMac; 28 July 2015, 09:24.
          Originally posted by Stevie Wonder Boy
          I can't see any way to do it can you please advise?

          I want my account deleted and all of my information removed, I want to invoke my right to be forgotten.

          Comment


            #6
            Originally posted by DimPrawn View Post
            Use the £10M as a small deposit for a flat in central London. Problem solved.

            3 bedroom flat for sale in One Hyde Park, 100 Knightsbridge, London, SW1X
            It needs to be easily accessible for spending Where/how can large amounts of cash be kept with some sort of guarantee, without the need to split across every bank you can find?

            Thought you'd know about this DP with all your millions

            Originally posted by SimonMac View Post
            You will always be limited to the £85k per institution, so you would need to open up a fair few new accounts.
            You can't buy insurance or similar?
            Originally posted by MaryPoppins
            I'd still not breastfeed a nazi
            Originally posted by vetran
            Urine is quite nourishing

            Comment


              #7
              Originally posted by d000hg View Post
              You can't buy insurance or similar?
              Its only cash that is "at risk" buy equities and you will still have "something" although it might be worthless over time
              Originally posted by Stevie Wonder Boy
              I can't see any way to do it can you please advise?

              I want my account deleted and all of my information removed, I want to invoke my right to be forgotten.

              Comment


                #8
                Originally posted by SimonMac View Post
                Its only cash that is "at risk" buy equities and you will still have "something" although it might be worthless over time
                FTSE 100 erases gains for 2015 amid China stock market meltdown | City A.M.

                All of 2015 gains wiped out.

                Comment


                  #9
                  I'd buy 100 slum BTL and live off the state by proxy.

                  Comment


                    #10
                    Originally posted by d000hg View Post
                    I don't have £10m (not yet) but I was thinking about if you won £10m on the lottery, how you could safely invest it, as cash, given that the government only guarantees a pretty tiny amount per personal account?
                    More lottery tickets surely? Since you would have to be the lucky one to win £10 mln in the first place...

                    btw, half of that money would go to your ex-wife, and quarter to lawyers, so only £2.5 mln left.

                    Comment

                    Working...
                    X