How much do you need to win on the Lottery to pack in your Job

**aftermath** · 13th September, 2009, 08:40 AM

I would give my job up tomorrow if i could win ?100,000

**gmb45** · 13th September, 2009, 08:47 AM

depends on a number of things if u got a morgage, other debts etc, but i think if u lucky enough in these times to have a job, then i think at least ?500,000 invested wisely and safely in an high interest account which pays out the interest monthly, so say 5%ish aer interest = ?50,000ish interest would be ample for most people

**westkill** · 13th September, 2009, 08:51 AM

probally about ?250.000

working it out say for argument sake you earn 25k a year
at my age of 41 theres 10 years work off happiness

**Lainie** · 13th September, 2009, 02:19 PM

?100,000 never enough - would need to be over ?250,000 for me. i got my redundancy from an ex civil service post nearly 2 yrs ago and its amazing how quickly it was spent!!

**myheadhurts** · 13th September, 2009, 02:35 PM

?500,000 would certainly make me re-consider what i want to do as a career. might even be enough to let me go do something i actually want to do!

**maca** · 13th September, 2009, 02:42 PM

i'd buy the wife a house outside her work place so she could walk to work

**yorkslad** · 13th September, 2009, 03:23 PM

for me it would have to be about ?500,000+ thats so i never have to work again

**ruudvandan** · 13th September, 2009, 06:11 PM

?500,000 would be enough to buy a couple of houses, rent them out and live off the rent, but that would not leave anything over for you to have a rich lifestyle. If you want the sports car, big house and investments to be able to sustain a millionaire's lifestyle for the rest of your life then I would guess ?4-5 million would be about the minimum.

**Bulld0g** · 13th September, 2009, 06:18 PM

Personally. ?100,000 would do me.Pay me mortgage up an have a nice wedge in me arse pocket for hols an footy

**mojo2745** · 13th September, 2009, 06:31 PM

how old are you?
I'm 64 and I've always reckoned that you need what you earn yearly including overtime / bonus etc before tax multiplied by the number of years to retiring plus all debts cleared. That's the minimun. eg: 10 years to retiring @ 25k before tax (before tax allows for inflation and pay rises ) ....10x25k=250k plus all debts .

good luck x

**badapple** · 13th September, 2009, 06:35 PM

About ?200.000 would be good for me.
Then I can send the wife out to work for a change.

Well, we can't both sit at home, drinking, eating and sleeping!

**Bulld0g** · 13th September, 2009, 06:37 PM

Originally Posted by badapple

About ?200.000 would be good for me.
Then I can send the wife out to work for a change.

Well, we can't both sit at home, drinking, eating and sleeping!

You can if you wanna pack your jobs in an go on the dole . Works for millions of others

**miss h** · 13th September, 2009, 07:53 PM

If you could win ?10000 you should be able to win ?100000, if you apply the same principles. Most major bookies should let you win that much, after that it's the exchanges. I can't see much point in fantasy betting or investing because there's no pain if you lose. In my opinion successful betting/investing is all about not losing. Start small, but real, and then grow. Good luck.

**chroma** · 14th September, 2009, 05:02 AM

A LOT at present.

0.5% Interest rate is what we're currently sitting at (and have been since 5th of march) To make that figure real say you have ?100,000 in your bank.
That means at the end of the first month you'll get ((investment/200)/12) = ?41.66

In real terms if you have ?668,720 in your account sitting doing nothing then you'll earn the same in interest as you would accrue claiming Jobseekers Allowance (single over 25yrs old value)

AER is compounded though, so in the first month you get ?41.66 from 100k the second month the investment column in the formula changes to 100,041.66 giving you a grand total of ?41.68 the second month.

For the truly hardcore out there who want to know how much you'll earn on your investment over a set period of months ive written a simple program to display it in C++:

Code:

#include <iostream>
#include <iomanip>
#include <conio.h>
using namespace std;

int main (void)
{
    double aer, compound, invest;
    int month = 1;
  
   // welcome message
    std::cout<<"Hello, this is a simple program to calculate"<<endl;
    std::cout<<"the compounded interest on a given investment"<<endl;
    std::cout<<"for a specified number of months"<<endl<<endl<<endl;

    //input stage
    std::cout<<"Please specify the AER"<<endl;
        std::cin>>aer;
    std:cout<<"Thank you, now please tell me your initial investment"<<endl;
        std::cin>>invest;
    std::cout<<"Thank you, now please tell me how many months"<<endl;
        std::cin>>month;
        std::cout<<endl<<endl<<endl;

    //floating point mathjiggery and intergerpokery mah gubbins
    std::cout.setf(ios::fixed,ios::floatfield);
        std::cout.precision(3);

    int i;
    for (i=0; i< month; i++){
        compound = (((invest/100)*aer)/12);
            invest = compound + invest;
                std::cout<<"Compound interest for month: "<<i+1<<"= "<<compound<<" : Total Growth: "<< invest<<endl;
    }
    
    std::cout<<"Please press any key to terminate";
    


_getch ();
return (0);
}

For the less hardcore but still vaguely interested theres a compiled build linked (built via MS VC++) the source is merely so you know im not doing anything dangerous to your machine with the executable or to build your own and modify the setprecision to more than 3 decimal places.