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Monday, August 4, 2014

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Tuesday 5 August 2014

Irish Lottery winner: I'm giving away €33m

Maureen Coleman

Published 04/08/2014|07:41
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Margaret Loughrey, the Euromillions winner from Strabane.
Margaret Loughrey, the Euromillions winner from Strabane.
A Northern Ireland woman who won €34 million on the Euromillions lottery is giving away a whopping €33m
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Big-hearted Strabane woman Margaret Loughrey plans to keep just €1.25m of her massive fortune. Since the windfall she's been handing out money to help people in need and has already parted with €17m.

Margaret, who was unemployed when she scooped the big prize, says she wants to use the other £12.5m to give her beloved home town a facelift.

In an interview with Sunday Life, she said: "As soon as I won the money I said it would go for the good of the town.

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"I've already given half of it away. I always said one for me, and the rest for the town."

Margaret (48), who bought the lucky dip ticket on the way home from the Job Centre, has already splashed out around €1.25m to buy the historic Herdman's Mill in Sion Mills. She plans to transform it into a leisure and tourism destination.

However her plans to buy Strabane's vacant 22-acre business park site were turned down by Invest NI on the grounds that they didn't meet with criteria.

Margaret had been hoping to build a craft village but Invest NI said a business plan which focused on export growth was needed. But she won't let that deter her from turning Strabane into a focal point for tourism.

"You've got the American Folk park in Omagh, the walls of Derry, Donegal," she said. "There is so much in that area and Strabane could be the focal point for that.

"There is so much talent in the Strabane area, people just need to be given a chance. Everyone has the right to work for a living, to support their families, to buy their own home, to run their own business – these are things everyone should have a right to do."

Up until a few months ago, Margaret was unemployed and living on benefits of €70 a week.

She said her previous circumstances had influenced her decision to help other people.

"I know what it's like to have nothing," she said. "That's why I'm giving it away – I can't miss what I never had."
Belfast Telegraph

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Hold at least 10 million because you could need it. You really never know what misfortune will strike you or someone you know in the future and you could wind up broke and unable to help. It seems to you like a lot of money but it isn't. Inflation could come along and rip it apart leaving you with a lot less than you planned for. My advice. Keep at least 10 million in a bank account for yourself.
I think just about every scavenging financial advisor, bank manager and other carpet-bagger types have  thrown in his or her  tuppence-worth of 'advice' to this generous woman!  One wonders why there is so much 'concern' for what happens to the lady's millions?  I doubt of any one of them cared a tuppenny-damn about her when she was living on £70 per week!  I am sure that the good lafy has lived and done well for herself  thus far without the need for all this feigned-concern for her millions!  What patronising  idiots! Do they think that she should not be trusted to carry on her own life according to her own wishes?  Or is it just the money they see- and not the person?
Margaret, keep well away from financial advisors, banks and various other shysters!  Do waht you wish with your own money and do not be said by others who are so knowledgable about what others should do with their money! Do your own thing and you can't go far wrong!
Margaret,You are a very generous woman, but you're going too far with your wealth distribution program.   You need a responsible advisor, a financial planner, lawyer or bank manager, who can advise you on how much you need to keep for your own needs, at your age and stage.  If you feel compelled to give the bulk of it away, my advice would be to keep about one-third, or at least, one-sixth, for yourself, because you owe it to yourself  to enjoy your good luck  and ensure a comfortable life from your winnings.
I know a lady who had everything, a nice family a house with swimming pool, horses, seven toilets, a porche, lambourgini, house maids and lost it all.  I know because she is a relative.  Money, wealth position and power do not bring eternal happiness. Keep praying
The comments seem to suggest that Ireland is full of insecure misers. ( Is the word "miserable" related?) Since the woman has survived in good spirits on £70 per week, she knows she can survive.  Too many are possessed by their possessions. "Consider the lilies of the field........."
Is there anybody out there willing to shout 'STOP' and help this delusional lady???  She is 48 years old (not ninety) and will soon find out what the money she intends keeping will not last long ... her future needs to be secured and it seems as if nobody is out there guiding her in her decisions.  This is a sad situation.
@ikayr I'd say you're right, and even the few bob she has left, someone will take advantage of her.  She seems like a wonderful, kind caring person and it'd be great if some honourable professional financial manager would step in and maybe organise trusts or a definite pension etc. for her, 'cos I'd say she won't be entitled to the state pension with that amount of winnings maybe? 
@abroad @ikayr - An honourable, professional financial manager? You ask too much altogether. And what right would such a rare bird have to 'step in' to anyone's private affairs- without invitation? You don't seem to credit the good lady with an ounce of sense or independence- or privacy.  Maybe when you win all the millions you will take your own advice.
@ikayr yes, unfortunately she should of first invested it and generated an income for her plans. 
I suppose she's made sure she's all debt free already. Living in a small town or village on interest from 1.25 millions is more than possible. If you live on the countryside there are lots of ways to reduce your living costs to nearly 0. Yes, if she wants to buy a new Bentley every spring, she'll run out of cash pretty quick... But if that was the case, she would get broke really fast no matter how little she gave away. :)
@ikayr It is great to see that there are still some people in Ireland who have a heart. For you to say. she is delusional says more about you than her.I think this lady understands that sharing and caring is what lifes about, not putting 33 million away in some bank. What a pity other people in Ireland who have a lot more than her by the way would do the same instead of hiding the millions in offshore accounts.This lady has put our politicians and super rich to shame.
@splodge @ikayr  I believe delusional is the wrong word.  Misinformed would be better.  She obviously has a heart of gold, but she could do so much more long term for others if she was better advised.  Bless her, but if she keeps going this way she will have nothing left and little to show for it.  Investing the majority of the money and using the income generated for her 'charities' would ensure that they could keep going for many years to come.
@ikayr Have to agree. She has already given away half of it and unfortunately, my fear for this kind, generous, lady, is that some unscrupulous people will weedle the rest of it away from her on the pretext of some 'hard luck story'. Any town anywhere on the planet is full of such chancers. Some solid individual needs to take her aside and speak seriously to her before it's too late. Nonetheless, this lady has a heart of gold.
@ikayr - Why not everyone mind their own business? If she refused to part with any of her money, there would be another outcry!
Well done Margaret. Your an inspiration to us all. Get someone to help you think outside the box to make the best use of the investment.
i think margaret should buy i nice big house with a swimming pool and relax and enjoy the wealth

I'm sorry but despite the illusion of generosity, someone needs to step in and help this woman before people strip her of her wealth. Bleeding heart letters will all sound worthy but most will be nothing more that opportunists. If €17m is already gone, the €12.5m remaining with do squat to regenerate a town. The NI should still not allow this woman acquire Strabane's vacant business park. Someone that squanders €33m is not business minded enough to realise the pipe dream she has. The NO will end up having to plug the massive hole she'll quickly dig. It's really sad.
@CathalByrne
A slight over use of the word; ''Sad'' don't you think ?
As I would imagine that there are many things much ''Sadder'' in this world of ours.
a generous and heartwarming human being ,she gets satisfaction from helping others ,,good luck to her
Well fair play to you Lady and I hope that I would have the bottle to follow in your footsteps THAT IS OF COURSE IF I WON. Enjoy the balance on yourself.
Very laudable but do yourself a favour, keep the rest of it and enjoy it - it will be gone before you know it and if you may have to go back on benefits, you'll have to prove where every penny went and those who received it will in turn be investigated.
Why is it only the articles of politics and corruption people bother commenting on?  Are people not interested in celebrating the wonderful good natured people there are out there?

What a generous and giving lady, good on her - may there be many more like her.
Well done to this woman. I doubt if somebody who already had money won it they would think the same way. Its never enough for some people. Its a shame that more people do not think her way. I would do the same thing if I won money. I would bypass the bureaucracies and charities and directly change peoples lives.
Crazy
@Cynical How about wishing her the best with her win Cynical instead of just entering Crazy - unless you're talking about yourself of course.
Mike Allen of Focus Ireland
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