John asks a good question, let's listen.

Hello Pete, if you suddenly came into an eight or nine digit sum of money,

what would you do?

Hmm, got me thinking. Okay in this question John specifically said what would I do with an 8 or 9 digit sum of money

so I presume that we're excluding decimal points from that. So we're

talking tens or hundreds of millions of pounds here. So let's dream a

little bit, shall we? We're going to put five minutes on the clock. Say a

quick thank you to my friends at 7 Investment Management for continuing to sponsor this show,

this show, and we're going to crack on.

Okay, let's work up here.

Let's say, first of all, what if I came in to a million quid what would I do with it?

Well I'm 44 so that's probably not enough to retire on and last me say 50 years because you know I like stuff right so I think if I came into a

million quid I would do the following firstly I would definitely pay my mortgage off.

I got about 10 years left on it, hopefully less, trying to overpay that as much as possible,

but I would definitely get rid of it because it would just free up monthly income, or rather

it would reduce the expenses significantly.

Next I would put some money aside for each of my two daughters.

I would definitely keep the money in my name for now but I would ring-fence it for them.

My eldest Ellie is 19. She's at university and when she

graduates I might consider paying off a student loan but maybe not because it's

easily the best loan she'll ever get. My youngest Kate is 16 so she's not going to

need the money for a while. I would invest it on a balanced approach probably

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