I'm lucky enough to know someone who won £2.3m ($3.1m) on the UK lottery a few years back, which got me thinking about this fairly seriously at the time and here's conclusion I came up with.
The interest he receives is approx £32,000pcm so more than enough to live very nicely on. I would buy everything of medium/high value on credit and pay this off with the interest accrued every month, thereby getting what I want without dipping into the main sum of money. Boring I know, but financially sensible.
The interest he receives is approx £32,000pcm so more than enough to live very nicely on. I would buy everything of medium/high value on credit and pay this off with the interest accrued every month, thereby getting what I want without dipping into the main sum of money. Boring I know, but financially sensible.