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To think winning £110M overnight would solve a lot of problems but bring a whole set of new ones?

284 replies

SereneFinch · Yesterday 08:04

Someone in the UK won £110M last night and I was just thinking about how they’re feeling this morning.

All your money worries are gone, you can buy a nice house, quit your job etc.

But I wonder if those problems are replaced with new ones. Some people in your life might be jealous. Or expect handouts and get angry about who gets what.

And then your DC. Do you tell them they still need to do their homework? That they’ll still need to have a job/career one day?

I’m not saying it wouldn’t be great, I'm just wondering if it swaps one set of problems for another.

OP posts:
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frugalkitty · Yesterday 16:44

My daughter and I were talking about this just now! We've got as far as I'd keep the round £100 million and the kids (three of them) can split the £11 million!

Notonmyland · Yesterday 16:31

Well I've been browsing rightmove in anticipation of them emailing me, but I think it's a bit late in the day for it to be me.

I would do so many nice things with the money.

likelysuspect · Yesterday 16:20

RedFatball · Yesterday 12:10

I'd be quitting my job in a heartbeat and spend my days cooking nice food, running, going to the gym and planning long walking holidays. I don't have expensive tastes, but a house somewhere remote with good walking trails would be amazing

Same here I want a house on a flat long bike trail that I could go out on every day.

Also would get a chef and a housekeeper to look after me!

likelysuspect · Yesterday 16:18

Nope. No problems at all

I wouldnt tell anyone.

I would simply hand in my notice, work my notice which is several months anyway

Buy a different property on the quiet, move after the notice period runs out and live the life of riley.

I would say I came into an inheritance that allowed me to retire early.

I wouldnt live a life of ferraris and holidays to Barbados anyone, Im more like a Skoda and Devon or Nice holiday vibe but in any case i would just enjoy myself, do some voluntary work, keep a low profile and radiate smugness from the inside.

jonnybriggswasgreat · Yesterday 16:15

RikthePoet · Yesterday 15:45

Yeah, it would be really unfair for you to have to stomach paying a small proportion of your multi-million unearned fortune to help fund public services after you had invested two quid on your lotto ticket.

You must be naive to think to that all our taxes go to improve public services.

Bimblebombles · Yesterday 16:01

I wouldn’t want to stop work, I like my job. What I don’t like is working from home and having no divide between work / house. I would buy myself a smart office, kit it out with a fridge stocked with amazing food and a coffee machine, a huge wooden desk and panelled walls. A new computer. Maybe a driver to take me there everyday. And I’d sit in my nice surroundings enjoying my work. While a housekeeper visits my house every day while I’m out. Come home to an immaculate house, having done a good days work and been productive. That would make me happy.

Bloodysquirellls · Yesterday 15:50

Davros · Yesterday 08:13

I won £2.60 last night, I’m rolling in it

Lol same!

I had lost my engagement ring a week prior and bought tickets because I thought I was owed some luck.

My son found it at bedtime. Which now I think about it is the time the balls would have come out!

So very pleased, and pleased we had a British winner.

RikthePoet · Yesterday 15:45

jonnybriggswasgreat · Yesterday 15:42

I wouldn’t be able to stomach paying a shed load of tax if I were to put most of £110 million in savings or even a quarter to a half.

Yeah, it would be really unfair for you to have to stomach paying a small proportion of your multi-million unearned fortune to help fund public services after you had invested two quid on your lotto ticket.

jonnybriggswasgreat · Yesterday 15:42

I wouldn’t be able to stomach paying a shed load of tax if I were to put most of £110 million in savings or even a quarter to a half.

Biker47 · Yesterday 15:41

SparklyBlueDress · Yesterday 08:44

I haven’t a link but I’m sure I’ve read somewhere that lottery winners of huge amounts statistically end up less happy. I reckon half a million is a perfect amount.

Can you imagine just existing for the rest of your days with no real purpose? I appreciate I’m lucky that I (mostly) enjoy my job but days and days of wafting around being rich sounds lovely for a week or 2 but then a bit dull.

I can think of literally 100 things right now that I would rather spend my time doing than working and while a lot might not have any actual purpose, I'd rather do them than work.

Sherararara · Yesterday 15:36

Kirschcherries · Yesterday 12:41

The interest is only c£5m a year if you invest the £100m. Once you start buying property, giving it away etc. you reduce the capital so the interest drops.

Yeah, so you spend 10m in your first year while investing the remaining 100m. After a year you have 5m (more in reality) and you limit yourself to spending that per year for the rest of your life. It might be a struggle to live off such a paltry sum but I’m sure most of us will find a way to cope.

FishersGate · Yesterday 15:35

Littlebitpsycho · Yesterday 08:15

I wouldn't tell my DD if I won the lottery, as whether or not she'd ever need to have a job, I still really value education

Same here.

JudyTeeny · Yesterday 15:31

My SIL has already told us that if she ever wins the lottery she won't give us anything (DH is her brother), so I wouldn't have to worry about how much to give her, because it'd be £000!

clapalongnow · Yesterday 15:28

PalePinkPeony · Yesterday 11:19

Different life perspectives. Where i live you can’t get a 4 bed house for 500K. And if you somehow did manage to find one, it would be tiny with no garden. I have to watch pennies and we earn 130k and our house is worth £650. It’s got a very small garden and a dozen things broken. Carpet worn to the floorboards can’t afford to replace a broken tap, washing machine almost gone. Sofa not enough to seat everyone in our family (only 3 seats) so people sit on the floor if we all want to watch a film.
So yeah- I think your perception of how much stuff costs is a bit skewed. I can easily see how a luxury lifestyle would cost 2 million per person per year. Easily.

Not skewed at all, different maybe, but absolutely normal for my area. It’s n any case I was reasoning to the poster who suggested the money wouldn’t last a lifetime because of spending 5-10 million on a house. So let’s say your area costs 3/4 times mine, that’s still nowhere near the amount of money that poster was suggesting

ohyesiknowwhatyoumean · Yesterday 15:27

PoloThePolarBear · Yesterday 08:12

I think having a lot of money does create problems in your relationships, if people realise then there starts to be a lot of hinting/outright asking for financial help and gifts. A certain kind of person will always want money from you, but will also resent that they “have to” ask for it, and think that you should be giving them more, so the relationships become very odd.

You also have to worry more about security - if you suddenly have enough wealth to be worth kidnapping for ransom then you need to consider all of your movements and how much security you might need.

It’s also hard to bring up kids sensibly if they know that ultimately you can just pay for anything, and buy them out of trouble.

We have a lot of very very wealthy friends, and while we enjoy visiting (and I occasionally wish we had a private chef) I’m not sure we would overall be happier with that kind of money.

This in spades!

I have an old Uni friend who went into "the City", started his own company, recently sold it, evidently he's worth almost £100m now. He's a nice guy, and generous, I know he's supported in laws and some of his own family members - but it's also caused a lot of angst. Two of his siblings are not talking to him - they are committed lefties (evidently 🤷🏼‍♀️) LP members who don't think anyone should have that amount of money. (The fact they both live in detached houses in the S of England and have no mortgage and holiday abroad doesn't seem to register with them.)

Anyway - last time I saw him we had a coffee at his mum's, he said it was astonishing how many old friends and acquaintances came out of the woodwork when the sale was announced and word got around - all with ideas that needed finance.

£1m would suit me nicely as a lottery win!

EmmaB1309 · Yesterday 15:16

I understand what you mean. With that sum of money you could live the life you want, potentially never work again (if that’s your preference), and you could make life a lot lot easier for all of your loved ones. I’d rather have it than not.
But it also raises a lot of questions.
Where do you draw the line with people trying to mooch off you all the time after you’ve already helped them?
Would you feel bored and unfulfilled with never working again?
Do you want your kids to feel like they don’t need to try in education ever again because they’ll always be taken care of? How do you foster a good work ethic and desire to be independent?
Does it feel morally right and fulfilling to have lots of ‘things’ and ‘experiences’ you haven’t earned?
If you want to invest or give some to charity or do something philanthropic how do you decide what to do?
Not to mention the media scrutiny and trying to maintain some privacy through it all.

AnneKipankitoo · Yesterday 15:07

I think there is a family in a French village that won a huge amount. They still live the life they have always done but fund things for their community anonymously. ( Old folks home, amenities…)

JamesGetIn · Yesterday 14:53

Nolongera · Yesterday 09:19

Here's a problem if you won 110 million, what about the begging letters?

I would continue to send them.

Spike Milligan I think.

🤣

anyolddinosaur · Yesterday 14:27

If I decide to fly first instead of economy on my holidays no-one is likely to notice. Not interested in massive cars or yachts but I'd have private medical care - again most people are not going to notice that. I wouldnt want anyone to know if I'd paid off their mortgage but I suspect they might then start to figure it out. I might have to do some random paying off of their neighbours mortgages just to confuse the issue 😁Or maybe I'd just pay to install solar panels and other money saving things for random roads that they live in.

Perhaps I'll buy a lottery ticket, I could have so much fun with that.

RikthePoet · Yesterday 14:12

PalePinkPeony · Yesterday 11:19

Different life perspectives. Where i live you can’t get a 4 bed house for 500K. And if you somehow did manage to find one, it would be tiny with no garden. I have to watch pennies and we earn 130k and our house is worth £650. It’s got a very small garden and a dozen things broken. Carpet worn to the floorboards can’t afford to replace a broken tap, washing machine almost gone. Sofa not enough to seat everyone in our family (only 3 seats) so people sit on the floor if we all want to watch a film.
So yeah- I think your perception of how much stuff costs is a bit skewed. I can easily see how a luxury lifestyle would cost 2 million per person per year. Easily.

Wow, your house is worth £650?

You must live in a pretty shitty area

RikthePoet · Yesterday 14:06

Catza · Yesterday 08:32

Look at statistics. The vast majority of people fritter lottery money away on a space of a few years. 110 million doesn't stretch as far as you might think. Especially if one thinks they have access to unlimited money. But it's not unlimited, is it?
The kid isn't going to go backpacking through Europe on this money, they would want to go to Maldives or Dubai and stay in premium hotels, dine out every night and raid designer shops. A house in London will set you back 5-10 million. Again, they are not going to want a three bed mid terrace. Someone mentioned the kid might be able to start a business. What business without education?! And how much investment will this business require?
We are looking at, at best 25 years of financing if we assume a conservative spend of 2million per year for the child and the same for parents. Then what?
Look at children of wealthy people. Most of them are in education. Private schools, top universities abroad. Those who aren't, have a drug problem or similar.

Edited

We have found the ultimate Mumsnet "especially in London."

£110million doesn't go that far, "especially in London"!

Campanulaceae · Yesterday 14:00

I'd buy a house for us, some land, and get some sheep and cows and employ a farmhand or two. I'd also buy a small property for each of my kids eventually. DH would keep working, and I'd raise the kids and animals.

We'd have nice holidays but not so crazy luxurious that it would raise eyebrows.. although I'd fly business class when going abroad 🤣

I'd probably be quite philanthropic... So build a new swimming pool for our town, and maybe something to do with families in the local area. Not sure what, but something.

PoloThePolarBear · Yesterday 13:35

Timeforachange26 · Yesterday 12:24

But why tell all and sundry?

If you spend the money then people start to notice!

Takethehuntingquiche · Yesterday 13:34

Weeellokthen · Yesterday 12:23

I've always told my dc that if I won big, they would get enough to do something but not enough to do nothing.
We all still need purpose in our lives, whether it be charity work or setting up your own business.

That's a great attitude to have

Takethehuntingquiche · Yesterday 13:32

Oliveoy · Yesterday 09:36

Really? What if your child wasn't academic, or had some other barrier to establishing a decent career, such as disability or neurodivergence? Would you seriously let them rot on benefits or in a minimum wage job whilst you enjoyed your 110 million?

Don't be ridiculous.

You are the ridiculous one saying that the poster's child could put down her a level book & never had to study again, due to being funded by their parents. What would that teach them? Budgeting is an essential life skill and they'd be up shit creek if the money disappeared. You should never be reliant on anyone for money

Of course I'd never see my children struggling financially but I wouldn't spoil them with money either