Buy home for around = £300.000
Aston martin, Evo,range rover,subaru and audi A4 = £200.000
holidays round the world= £100.000
season ticket at Liverpool FC , corporate box = £10.000
then chill out on the rest , a few investments, set up business for a regular income...............and then wipe the ass with a few pound notes
I'd buy real estate in the U.S. with the 1M British Pounds. The dollar is so weak versus the pound you'd get twice what you could have gotten a couple years ago.
Then I'd wait a few years 'til the dollar strengthens vs. the pound at which point I'd sell. That way I'd gain on two fronts: the real estate appreciation as well as in the strengthening of the US dollar.
There are some soft spots in the US. If you're going to use the property then it may be a great time, even to leverage a purchase, but otherwise you may be looking at a very small gain, or loss as the market absorbs the inflow of capital in the real estate market from low interest rate driven buying. The market giveth and the market taketh away, just when you're feeling most cocky. At this point I think large cap US stocks are most out of favor and are at attractive multiples. I'm 0% invested in reits and only 5% invested in property I have title on.
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