What will you spend it on?

ON Friday, the EuroMillions lottery draw will see a jackpot worth more than £100million up for grabs - the biggest in the competition's history.

Supposing your numbers are drawn, what could you spend all that cash on?

And more importantly, would it really make you happy? JOSH WARWICK reports.

MONEY, it is said, makes the world go round.

But if it is you whose numbers are picked on Friday, it is more likely your world will be turned upside down, because in an instant life will never be the same.

Never again will you have to think twice about buying those clothes, or that car or even that house.

All the financial worries which have plagued you - the mortgage, loans or dwindling savings - will vanish in the time it takes a set of multi-coloured balls to fall out of a machine.

The £85million pot rolled over again last week, prompting a flurry of ticket buying despite the fact that the odds are a whopping 75,000,000 to one.

But even if the odds were overcome, would instant riches really bring the happiness many of us imagine?

Suffolk chartered counselling psychologist Lilian Powers suggested not - especially when it comes to deciding on who your friends really are.

“If you do not handle it very carefully, that sort of money could be psychologically very damaging,” she said.

“There are two different aspects to consider - the way in which you relate to other people and the way you feel about yourself.

“Old close friends may feel very anxious about remaining close to you in case they are suspected of having ulterior motives and people who didn't used to be close to you may start becoming friendly.

“It is very difficult to know how affected your relationships will be following on from a lottery win.”

Many of the aspects of our lives which bind us together may also be undone by a £100million cash injection.

Ms Power said: “The whole relationship could change. We work with our friends or we live near them. If someone wins such a large amount of money, that might no longer be the case.”

And what about the old adage often quoted after a windfall - the one about it not changing you. Is it possible to carry on as before?

“No - the only way you could would be to give it all away, but even then you would always be known as the person who gave it away,” said Ms Power.

“We are defined by our work, because it gives us a sense of purpose.

“People who win the lottery would need to find a new sense of purpose. It is impossible for it not to change you.

“The standard advice is take out a very small amount to celebrate with friends and then put the rest away for a year while you work out what your purpose will be.

“People who are strong characters will find a way of living with it - they won't let it define them.

“But if you're fragile in any way, it won't make your life any better.”

The draw, run by the National Lottery and operators in eight other countries, was not won last week for the tenth week running.

It now means this week's jackpot is the biggest in European lottery history, beating the £79m won by Ireland's Dolores McNamara in the EuroMillions draw last July.

EuroMillions is the UK's first taste of a super lottery. In the United States, hefty prize pots are a regular occurrence and in Spain the El Gordo lottery - which translates as the Fat One - is a national obsession. It pays out more than any other draw in the world, with last year's prizes totalling 1.8billion euros.

But what to do with a sudden windfall?

Winners of the domestic lotto have tended to have unsurprising shopping lists including a hand-out to family and friends, a collection of fine cars and a new home.

And as with any sudden purchase, some get a bit carried away. One winner bought a car but couldn't drive, while another dined in a succession of exclusive restaurants only to realise that fish fingers were still a favourite dish.

Even though charities are beneficiaries of the lottery, some feel that the money given to one individual winner should have a ceiling imposed.

Patsy Johnson, from St Elizabeth Hospice in Ipswich, said: “It seems a bit crazy for one individual to win all that money - unless they want to give half to us!

“If someone was to win it, they could help so many people by giving it away.

“Nearly every charity has trouble in raising money to meet their running costs and we are the same.

“This year, we have to raise £1.7m to keep us going so when you think of that, it could keep us going for more than 50 years.

“However, we wouldn't want to lose the support of the community which is very important to us.”

Case Study - Michael Carroll.

Carroll, nicknamed the Lotto Lout, scooped £9.7m on the national lottery in November 2002 still wearing an electronic tag.

At the time, he vowed to change his ways and leave behind his life of crime.

But since then, he has hit the headlines on countless occasions, upsetting his neighbours and regularly re-appearing in court for a range of offences, including possession of drugs.

The former dustman, who now resides in a £350,000 mansion in Norfolk, was also abandoned by his wife and baby daughter.

ONCE you have won £100million investing a fortune would require a shrewd head and common sense approach.

Mark Marshall, investment manager for Ipswich-based stockbrokers Charles Stanley and Co Ltd, in Northgate Street, said the money would need to be invested across a variety of markets.

He said: “You would need the best legal and financial advice before even considering investing it. You would want to look at tax efficient ways particularly of avoiding inheritance tax to pass on the vast majority the fortune.

“There would be no need to worry about a pension and the money on deposit would provide more than enough income to meet your needs.

“Having taken advice the best way to invest would be to spread it around. Property, cash, bonds, equities (shares) but also abroad.

“Investing abroad gives you the opportunity to spread your assets as much as possible. Some markets are on the ascendancy others in decline.”

Mr Marshall said Japan and China are the “powerhouses” of the global economy.

He said: “Sooner or later the economy here is going to run into trouble. The huge public sector pensions bill will cripple the economy and Britain will be bankrupt. It would also be sensible to invest in Eastern Europe.”

Commodities like gold, platinum and precious metals as well as art and wine may be sensible areas to invest part of the winnings.

Mr Marshall said: “You would want to invest in property in some of the more stable areas of the world like Canada, New Zealand or Australia as well as the UK. Commercial property is also a very good idea. It is easier to invest a slug of £10m in office building than buying houses to let.”

Originally a London-based firm, Charles Stanley and Co Ltd has advised the wealthy for 250 years. The firm moved to Ipswich in 1986.

Mr Marshall said: “We are like a general practitioner putting people in touch with other experts.”

Farmland, which has tax advantages, business enterprise schemes and venture capital trusts would also be worth looking into.

Mr Marshall said: “With £100m you could have a bit of everything. James Bond's Aston Martin which sold for £1.1m last week wouldn't make a very big hole. I hope it goes to someone level headed.”

Fast Facts - EuroMillions

Players are required to match five main numbers from one to 50, plus two Lucky Star numbers from one to nine.

Coleen McLoughlin, girlfriend of England footballer Wayne Rooney, has been chosen to promote the draw in the UK.

The draw is also open to players in Austria, Belgium, France, Ireland, Luxembourg, Portugal, Spain and Switzerland.

The UK's top EuroMillions jackpot winner is Marion Richardson, from Gateshead, who won £16.7m on April 9, 2004, two months after the game was launched.

The UK's biggest single winner revealed to date is Iris Jeffrey, from Belfast, who won £20.1m in July 2004.

Proceeds from the EuroMillions tickets, which cost £1.50 in the UK, raise money for good causes.

Did you know?

£100,000,000 is equal to 214,410,896,276 Tanzanian Shillings, 5,004,789,480 Russian Roubles or 226,083,000 Swiss Francs.

Did you know?

£100,000,000 would buy you 172,274oz of platinum.

Ten things you could blow £100m on:

1 - Ipswich Town Football Club - 16-and-a-half times over.

2 - Your own personal tropical island.

3 - Make a dent into world poverty.

4 - The Mona Lisa - three times.

5 - Wayne Rooney, Thierry Henry and Ronaldo.

6 - 320,128oz of gold.

7 - 125 Bugattis.

8 - Make 99 of your friends millionaires with you.

9 - 10,000 Ford Fiestas.

10 - 100,000,000 lottery tickets!

Britain's ten richest celebs:

1 - Sir Paul McCartney - £800m

2 - J K Rowling - £500m

3 - Madonna and Guy Ritchie - £235m

=5 - Sir Elton John - £185m

=5 - Sting - £185m

6 - Sir Mick Jagger - £180m

7 - Tom Jones - £175m

8 - Catherine Zeta-Jones and Michael Douglas - £170m

9 - Keith Richards - £165m

10 - Eric Clapton - £130m

Vox Pop: What would you do with all that cash?

Penny Alexander, 17, from Witnesham, said: “I think I would get rid of most of it, giving loads to my family and friends.

“I would certainly take a holiday though.”

Amy Dearden, 17, Belstead, said: “I would give some of it to my family, invest some and also buy myself a Bugatti.”

Diane Taylor, from Ipswich, said: “It would great to win because the money could be used to take the pressure off the family.

“It would put a smile on a few people's faces.”

Ron Taylor, also from Ipswich, said: “Perhaps I would get a new car and a new set of golf clubs.

“You would have to sit down and really give it some thought.”

Chris Almond, 25, from Shetland Close, Ipswich, said: “I would buy my beloved Bolton Wanderers Football Club, but I wouldn't give any to charity!

“My family and friends might get a bit too.”

Chris Rose, 25, Ireland Road, Ipswich, said: “I would buy Ipswich Town a few times over as well as an Aston Martin.”

Doreen Closs, from Avondale Road, Ipswich, said: “I would give quite a lot to charity and my family as well.”

Vic Closs, from Avondale Road, Ipswich, said: “I have lived in Suffolk all my life, but I think it could be the end of that.

“I would buy a very nice villa somewhere and maybe change the car.”

Steve Pasteris, from Framlingham, said: “I would put some into savings and buy a big house. I would also get a new car.

“I would make sure my family were looked after.”

Wayne Howarth, 32, from Elmswell, said: “The first thing I would do is pay off my mortgage, then I would retire from work.

“I'd also take a long holiday.”

Weblink:

www.lilianpower.co.uk

www.national-lottery.co.uk